If you build it, they will come. While that mantra may have worked for Kevin Costner in “Field of Dreams,” it doesn’t necessarily work for credit union websites. It would be great if the popularity of your credit union and its products and services were enough to draw the traffic you need, but it’s not likely. The real traffic will come from well-crafted website copy and carefully placed online advertising.
Online Attraction
Statistics show 84% of new car buyers do extensive online research before applying for a new car loan, traditional or online. Being where consumers are when they are shopping is the best way to capture their loan. You can do this by practicing search engine optimization on your Web pages and through pay-per-click advertising.
Statistics show 84% of new car buyers do extensive online research before applying for a new car loan, traditional or online. Being where consumers are when they are shopping is the best way to capture their loan. You can do this by practicing search engine optimization on your Web pages and through pay-per-click advertising.
Over the past several years, traditional advertising has
started taking a backseat to the fast-growing trend of online advertising. This
growth is the result of more dollars spent per business versus more businesses
jumping on the online advertising bandwagon. These numbers are growing because
companies are quickly learning that the Internet, specifically social media
networks, is where the consumers are, in particular the sought after younger
generation. A study called Social Habit 2011 from Edison Research has found
that one in four social media users knowingly follow brands. 24 percent of them
name Facebook as the most influential to their purchasing decisions.
Getting Social
By now your credit union more than likely not only has a website but a Facebook page and Twitter account. And for those of you that are even more forward thinking, you may even have a Google+ page, LinkedIn and Pinterest account. Whichever social media platforms you’re participating in, they may also be well-deserving investments of your online advertising dollar. We’ll focus on the two largest social media platforms, Facebook and Twitter.
By now your credit union more than likely not only has a website but a Facebook page and Twitter account. And for those of you that are even more forward thinking, you may even have a Google+ page, LinkedIn and Pinterest account. Whichever social media platforms you’re participating in, they may also be well-deserving investments of your online advertising dollar. We’ll focus on the two largest social media platforms, Facebook and Twitter.
Facebook
Facebook has 156.8 million users in the U.S. who can be reached through FB advertising. With a site like Facebook, you have the advantage because the consumer is coming to you! A study from GroupM and comScore shows that 40 percent of consumers who search for companies online look at social media as being the next step to finalizing their purchasing decision. And 80 percent of Facebook users follow a brand.
Facebook has 156.8 million users in the U.S. who can be reached through FB advertising. With a site like Facebook, you have the advantage because the consumer is coming to you! A study from GroupM and comScore shows that 40 percent of consumers who search for companies online look at social media as being the next step to finalizing their purchasing decision. And 80 percent of Facebook users follow a brand.
What does this mean for your
credit union? The Facebook Ads trend is more than growing, it’s booming – and
the perfect opportunity to reach consumers at the perfect time. Facebook offers
several ways to advertise:
- Facebook Ads – These work like Google AdWords where you can pay per click or per impression. You can set the maximum amount you want to pay per day or pay a bid price. It’s in your best interest to monitor and revise your ads throughout the campaign so you can get the best results for your advertising dollar.
- Sponsored Stories –Use organic interactions between your credit union and its fans with various “story” types including Like Stories, Page Post Stories, Check-in Stories and others.
Another benefit to Facebook advertising is it enables you to
focus your reach. You can target your ads by your credit union’s surround zip
codes, the age and gender of your targeted audience and even if they’re married
or single.
Twitter
In 2011, Twitter averaged 500,000 new accounts created daily and 80 percent of their advertisers renewing their campaigns. An ExactTaget survey has uncovered that Twitter users are the most influential online consumers with 72 percent of them publishing blog posts monthly or more, blog comments come from 70 percent of them and 61 percent write at least one product review per month. Twitter offers two forms of online advertising:
In 2011, Twitter averaged 500,000 new accounts created daily and 80 percent of their advertisers renewing their campaigns. An ExactTaget survey has uncovered that Twitter users are the most influential online consumers with 72 percent of them publishing blog posts monthly or more, blog comments come from 70 percent of them and 61 percent write at least one product review per month. Twitter offers two forms of online advertising:
- Promoted Tweets – Advertisers can pay for a Promoted Tweet in search and a Promoted Tweet in timelines enabling you to target followers or users like your followers. You can narrow your efforts on a local or national level. Promoted Tweets are priced per engagement, so you only pay when someone retweets, replies to, clicks or favorites your Promoted Tweet.
- Promoted Accounts – This form of advertising is great if your credit union is looking to either expand its online presence or is about to launch a new product, service or campaign. A Promoted Account is featured in Twitter search results and in the Who to Follow section.
The Future is Online
A recent study by Filene Research Institute entitled Credit Union Digital Branding had a significant main takeaway. “It is not enough to turn traditional collateral and messaging into digital collateral and messaging. Instead, credit unions need to capitalize on the deeper trend of social connections to make sure their marketing reaches the right audience in the first place and has its intended effect when it arrives.”
A recent study by Filene Research Institute entitled Credit Union Digital Branding had a significant main takeaway. “It is not enough to turn traditional collateral and messaging into digital collateral and messaging. Instead, credit unions need to capitalize on the deeper trend of social connections to make sure their marketing reaches the right audience in the first place and has its intended effect when it arrives.”
Industry projections all point to online advertising with
estimates forecasting one-quarter of all local ad spending will go online by
2014, according to eMarketer. Whichever online advertising platform your credit
union utilizes, be it Google or any of the aforementioned social media
channels, make the most of your online advertising dollars and efforts to drive
prospective members to your credit union’s website. And before you know it,
they will come.
And if all of these options seem a bit overwhelming, CU
Solutions Group has online advertising and social media experts to help you
through the process.
I Hope CU's will start to fully see the potential that social advertising has; versus the less sales driven "social engagement" philosophy. FB ads despite the recent IPO related media criticism is one of the most advanced marketing platforms on the planet and anybody and everybody has access to it.
ReplyDeleteSocial media has long been recognised as a powerful platform for affiliate marketing purposes. You can use simple techniques to sell your products online.
ReplyDelete