Why credit unions should transform their digital presence
Technology is transforming the way we live. It is changing the way people communicate, connect and discover. It’s turning the average consumer into an informed consumer, and continues to influence their behavior. Businesses with an active digital lifestyle tend to maintain a competitive edge by furthering their engagement with consumers and establishing trust. However, there are many businesses that do not see the importance in digital marketing or lack the resources to achieve results. Fortunately, there are a number of online practices your credit union can adapt to keep up with digital transformation and deliver your best brand experience.
Social media is a major component of digital transformation. It appeared quickly, and just as swiftly dominated business-marketing strategies and consumer behavior. According to Hubspot, 80 percent of US online users prefer to connect with brands through Facebook. Other social media platforms, such as Twitter and LinkedIn, have seen dramatic results as well. Forbes reports 21 percent of financial service industries gained new clients through Twitter. And LinkedIn reports that 71 percent of financial services report finding their target audience of customers active on the site.
If your credit union wants similar results, active management of your social media platforms is essential. Digitally active consumers expect real-time engagement and the best experience you have to offer. Regular support and engagement on social media platforms will build stronger relationships with current customers and extend your reach to potential ones. Answering questions and offering advice is an easy way to establish trust among your followers. Share relevant articles with your followers and join appropriate conversations to demonstrate industry knowledge and establish your online presence.
Invest in a Quality Website
A strong digital presence also includes a comprehensive, dynamic website. Customers will often be directed to the company website from your social media platforms, requiring that your website is informative and easy to navigate. A website is your opportunity to tell your company’s story and demonstrate unique qualities. Provide a clear sense of what your company offers, and the value of your services. Customers should be able to find the information they are looking for quickly and effectively. This also requires a quick loading time. According to KISSmetrics, 40 percent of people abandon a website that takes more than three seconds to load.
Not only do customers expect quick-loading websites, they also expect a useful mobile site. Google found that 72 percent of mobile users say it’s important that websites are mobile-friendly. With a majority of consumers using their smartphones on the go, your credit union should offer mobile services for easier access. Aside from mobile friendly websites, you can provide further mobile services through smartphone applications. A recent study conducted by Flurry Analytics found that 86 percent of the time US mobile consumers spend on their smartphone is spent on applications. To maximize your credit union’s mobile reach, determine the online services your customers are using most and develop them into a simple application.
Transforming your credit union’s online presence is an effective way to engage with your consumers and stay on top of digital transformation. Managing an active digital lifestyle through your social media platforms and websites will improve your credit union’s online reach, and ultimately your bottom line. What marketing strategies are your credit union implementing to keep up with digital transformation?