Social media is a shifty animal. It’s constantly changing. If it were in a zoo, the researchers would have no idea what to do with it.
But shifty or not, your credit union or community bank must know what to do with it. It’s a vital part of your marketing that can’t be ignored. You have to work within the changing landscape to produce content that connects with consumers.
So, how exactly is the landscape changing? Here are just a few things to watch out for…
Should you quit Twitter?
Who are the Twitter Quitters? They are people fleeing Twitter following the recent upheaval and changes at the company. They’re a group that ranges from normal people to entire companies upset about alterations to Twitter’s privacy policies, security features or new monetization plans.
And you should be a Twitter Quitter too. Not because of any policy-related reasons. Simply because it’s a waste of your marketing resources.
The statistics say it all. Twitter is only the seventh most popular social media platform in the world (below Facebook, Instagram and TikTok). But it’s the number one platform for news and current events, with 23% of users posting political tweets and 66% of links leading back to news sources.
That means any posts about your community service, your mission, your loans, your CD rates or any other related content won’t get much traction. You’re simply speaking to the wrong audience.
Go where the audience will be more receptive. Facebook is still a great place to connect with many Gen X consumers. TikTok (which we’ll discuss in greater detail next) is popular with Gen Z if you know what you’re doing. These users are also more interested in entertaining or commercial content, rather than news-related discussions.
Will TikTok controversy affect its popularity?
In the same vein as Twitter, TikTok is another social media platform mired in controversy. Much debate exists about their use of consumer data – to the point that the state of Montana recently passed a bill banning TikTok.
Does this mean you should ignore the video-sharing platform? Not at all!
TikTok is working with Oracle to store US data on US servers, and bans are likely to face legal challenges. The app is also widely used and great for establishing a brand personality attractive to young people. Most TikTok users are either ages 10 to 19 (32.5%) or 20 to 29 (29.5%).
The social platform can help you reach these groups (if you know how to use it). One credit union doing incredible work in the TikTok space is Honor CU. They appear over and over again in our TikTok-related articles for good reason…they do everything right.
How can you “do everything right” on TikTok? Here are some quick tips:
- Keep track of the audio trends
- Use real employees excited about the videos
- Avoid talking heads and boring topics
- Don’t be afraid of using humor
- Have fun!
What other trends do you need to know?
There are a couple more important trends you need to know if you’re optimizing your social media strategy. They are:
1. Micro-Influencers – Influencer marketing isn’t a fad. It’s a vital part of the social commerce ecosystem. Micro-influencers aren’t celebrities, and they aren’t particularly well-known. But they have 150 percent the engagement rate of celebrity partnerships! It’s more important to find someone relatable to your niche than a big name.
2. “Edutainment” – People respond best to your educational material if it’s also entertaining. That could mean funny, but it could also mean it’s just visually appealing. Chime is one financial organization using engaging visuals to spice up educational content on their TikTok.
3. Gamification – This is a common trend beyond social media. You can easily see its effect in apps like Duolingo (using gamification to help you learn languages) or Zogo (a financial education app letting players earn pineapples). But it’s present on social media too. Social media platforms from Twitter to Instagram to LinkedIn allow you to create polls. Social media contests are also incredibly popular. How can you gamify your social media?
Do you need help with your creative strategy? Book a free consultation with On The Mark Strategies to stay on top of the trends and generate content that matters.
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