4 Steps to Increased Social Media ROI

  • Share:
marketing

4 Steps to Increased Social Media ROI

Marketers should already be familiar with using promotions or contests to generate awareness of their credit union on social media. These events can turn followers into brand advocates who share the credit union's content via their own social networks and draw in new prospective members and followers. Before launching a promotion or contest, however, credit unions should make sure they have followed these four steps to increase the overall ROI for the program.

1. Have a clear goal for the promotion

Running a promotion without a clear goal in mind is a plan for failure. Promotions and contests are investments that should not be taken lightly. Whether it’s as simple as building an audience or creating awareness for a new product or service, marketers need to cater each aspect of the promotion or contest to suit the overall goal.

2. Understand your audience and what they value

Marketing teams need to speak the same language as their followers, which means they need to understand the demographics, interests and pain points of their audience. This will determine the theme of a social media contest, how copy is written and what prizes are awarded.

For example, holding a contest that asks people to post pictures of their summer cookouts would be a lot more common for a condiment company than for a B2B software company. The same holds true for prizes, as the software company isn’t very likely to give out a lifetime supply of hotdogs.

Impact of social marketing graph

3. Incentivize social sharing

One of the primary benefits of holding a contest on social media is the opportunity to incentivize sharing. Posts from followers sharing content stamped with your brand will increase awareness, but properly utilizing hashtags, links and other tools will extend the promotion’s reach. Referrals are also useful.

4. Take advantage of a captive audience for messaging

An audience that is constantly checking back to see if they have won prizes is a committed one. They are open to messaging, and now is a great time to convince them to consider the credit union difference, to open an account at their nearest branch or to consider mobile options. Some steep discounts or promotional deals don’t hurt either.

  • Share:


« Return to "Trends"
TrendScan logo
<< Back to Articles

Latest Trends

  1. Identifying Marijuana-Related Businesses
  2. Cut Through the Noise and Deliver Value Members Want
  3. 3 Key Factors for Creating Good Content
  4. A Content Management System Will Make Your Life Easier
  5. Preparing a Transparency Communication Plan
  6. Credit Unions Could Replace Predatory Lenders
  7. Enterprise Risk Management — Where to Start
  8. Why You Need ERM in Your Strategic Planning
  9. Just How Distracted Are Consumers?
  10. Are You Properly Rewarding Your CEO?
  11. The Quickest Way to Understand Enterprise Risk Management (ERM)
  12. What Borrowers Wished Credit Unions Knew
  13. The Easiest Way to Deliver Content for Employee Development
  14. Opportunities and Risks of Banking for Marijuana-Related Businesses
  15. Experience Company Growth and Discovery with Employee-Driven Communication
  16. 5 Things Credit Unions Can Learn from Cyber Attacks
  17. Should You Still Be Concerned about ADA Website Compliance?
  18. What Is a DDoS Attack and Why Should Credit Unions Be Concerned?
  19. Become a Tax Resource for Members
  20. The Member Service Experience
  21. Are You Ready to Adopt a Continuous Performance Management System?
  22. Consumer Attitudes Toward Digital Advertising
  23. Don't Get Snagged on ADA Compliance Requirements
  24. Building a Website with the User in Mind
  25. Learning Management Systems: What Credit Unions Should Consider
  26. The Role of HR and Hiring Managers in the Candidate Experience
  27. The Quest for a One-Stop Shop Financial App
  28. The Planning Process - Improved
  29. Anticipating Change with a Succession Plan
  30. How Useful Are Member Personas for Credit Union Marketing Teams?
  31. The Performance Management Conundrum: Structure vs. Creativity
  32. Americans' Lack of Financial Literacy Is an Opportunity for Credit Unions
  33. 2 Big FinTech Goals for Credit Unions
  34. Volunteer and Young Board Members Need Development
  35. Credit Union Compensation: Philosophy or Strategy?
  36. Popular DDoS Mitigation Methods in 2019
  37. 7 Tax Changes Your Members Need to Know About
  38. 3 Website Design Trends for 2019
  39. What's Hot in Performance Management Technology
  40. Is Your Executive Compensation Still Appealing?
  41. Preparing for Compensation Transparency
  42. Content Marketing: Well Worth the Effort
  43. Your Social Media Accounts Deserve Quality Content
  44. Continuous Performance Management is Disrupting HR
  45. What Credit Unions Should Do with Ambiguous ADA Standards
  46. 3 Succession Plans Your Credit Union Needs
  47. Consumer Appetites in Mobile Innovation
  48. Why You Should Invest in an Applicant Tracking System
  49. Do You Know Why Payday Loans Are Used so Much?
  50. Omnichannel Delivery: Banking Based On Members
  51. Shifts and Trends to Know About in E-Learning
  52. Build Up Membership Through Supportive Savings Programs
  53. 3 Ways Credit Unions Can Prepare for a Cyber Extortion
  54. The Website Audit Your Credit Union Needs
  55. Why HR Should Take Advantage of Employee Self Service
  56. The Importance of Creating Quality Content
  57. Selling Payments and Wealth Management Services
  58. Is Your Credit Union Supported by the Four Pillars of Digital Banking?
  59. Optimizing Websites for Voice: What You Need to Know
  60. Bankers associations’ opposition to mergers does a disservice to member banks and to consumers
  61. People Analytics: Bringing HR and Data Together
  62. The Win-Win Results of Prize-Linked Savings for Credit Unions and Members
  63. Content, Tools, and Channels to Capture Consumer Attention
  64. Credit Unions Have an Opportunity to Help Their Members Through Tax Season
  65. Wanted: Apps for Clarification and Simplification
  66. 5 Guideposts to Measure Your Brand Promise Against
  67. Prioritizing the Credit Union Employee Experience
  68. 6 Factors for Choosing the Right ESS System
  69. The Quickest Way to Find the Right (and Safest) CMS
  70. The Best Compliance Training with New Topics You Will Need
  71. The Credit Union Advantage for the Digital Customer
  72. A Simple Way to Unify Your Marketing Efforts
  73. Is Your CMS the Right Fit?
  74. Americans Trust Their Financial Institutions for Tax Advice
  75. How to Identify What You Want in an ESS
  76. Are You Missing Out on the Power of Video?
  77. Keeping Up with Digital Lending Convenience
  78. Are Your Landing Pages up to Snuff?
  79. How Credit Unions Can Formalize the Branding Process
  80. 4 Steps to Increased Social Media ROI
  81. Making Sure You Have the Right Leaders in the Right Seats
  82. The Dream Team for Successful Online Customer Interactions
  83. Empowering Employees and HR with the Latest Technology
  84. Caution: Customers Don't Always Ask for What They Want
  85. What the C-Suite Wants out of Social Media
  86. Credit Unions Can Compete with Shadow Banks
  87. Serving the Underbanked and Millennials
  88. Don't Undervalue Your Brand Promise
  89. How to Generate Content with Fewer Resources
  90. Don't Underestimate the Power of Financial Education
  91. If Your Site Isn't Mobile Optimized, You're Losing Out
  92. 3 Factors Impacting Credit Union Compensation Plans
  93. How Credit Unions Can Embrace Storytelling in Marketing
  94. Protect Your Credit Union with a Website Accessibility Response Plan
  95. Underestimate the Onboarding Process at Your Peril
  96. 3 Brand Promises Credit Unions Can Learn From
  97. Leveraging Social Media for Member Engagement
  98. Remaining a Player in the New Home-Buying Experience
  99. You Know You Need an LMS — Now What?
  100. Achieving the Golden “Narrative Transport” in Brand Storytelling
  101. Finding the Best Platform for HR Technology
  102. The Process of Crafting a Relatable, Moving Brand Story
  103. Predict the Future of Mortgage Lending with Analytics
  104. You Might Already Have the Solution to Your Current Talent Competency Gap
  105. The Secret to Future-Proofing Your Organization
  106. Leverage the Resources of Trusted Experts for Tax Season 2019
  107. Three Ways to Enhance Compensation Strategy for an Age-diverse Workforce
  108. Common Mistakes in Compliance
  109. Identify how chatbots will help you
  110. Keep content relevant, short, iterative and engaging
  111. Three ways to up your social media game
  112. Do you need a new compensation strategy for multigenerational staff?
  113. Conversational Commerce and the Rise of the Chatbot
  114. Prepare for integration
  115. What others are doing

Related Trends

  1. Keep content relevant, short, iterative and engaging
  2. Three ways to up your social media game
  3. What others are doing
  4. Credit Unions Have an Opportunity to Help Their Members Through Tax Season
  5. Leverage the Resources of Trusted Experts for Tax Season 2019
  6. Americans Trust Their Financial Institutions for Tax Advice
  7. Achieving the Golden “Narrative Transport” in Brand Storytelling
  8. The Process of Crafting a Relatable, Moving Brand Story
  9. Cut Through the Noise and Deliver Value Members Want
  10. Consumer Attitudes Toward Digital Advertising
  11. Content, Tools, and Channels to Capture Consumer Attention
  12. Just How Distracted Are Consumers?
  13. 3 Key Factors for Creating Good Content
  14. Become a Tax Resource for Members
  15. Americans' Lack of Financial Literacy Is an Opportunity for Credit Unions
  16. Build Up Membership Through Supportive Savings Programs
  17. 7 Tax Changes Your Members Need to Know About
  18. The Importance of Creating Quality Content
  19. The Win-Win Results of Prize-Linked Savings for Credit Unions and Members
  20. Content Marketing: Well Worth the Effort
  21. Your Social Media Accounts Deserve Quality Content
  22. How Credit Unions Can Formalize the Branding Process
  23. How Credit Unions Can Embrace Storytelling in Marketing
  24. 4 Steps to Increased Social Media ROI
  25. What the C-Suite Wants out of Social Media
  26. Leveraging Social Media for Member Engagement
  27. Are Your Landing Pages up to Snuff?
  28. Don't Underestimate the Power of Financial Education
  29. If Your Site Isn't Mobile Optimized, You're Losing Out
  30. 3 Brand Promises Credit Unions Can Learn From
  31. How to Generate Content with Fewer Resources
  32. 5 Guideposts to Measure Your Brand Promise Against
  33. How Useful Are Member Personas for Credit Union Marketing Teams?
  34. A Simple Way to Unify Your Marketing Efforts
  35. Are You Missing Out on the Power of Video?
  36. The Member Service Experience
  37. The Dream Team for Successful Online Customer Interactions
  38. Don't Undervalue Your Brand Promise
  39. Selling Payments and Wealth Management Services

Industry insights
to your inbox!

Subscribe