“I would highly recommend Meredith Olmstead and Social Stairway for your Credit Union social media needs. She understands the market and what our members want, She’s thorough in her research and deliverables from the strategic goals all the way to the tasks required to meet those goals, and knows the importance of ROI.” – AVP Marketing, AERO FCU
CREDIT UNION CASE STUDY
Client Website: https://www.aerofed.net/
Industry: Financial Services, Credit Union, Community Banking
Dates of Social Stairway Consulting Service: June 2014 – Present
Platforms Implemented: Facebook, Twitter, Google+, LinkedIn, Blog, Email Marketing Integration
MUST READ: Our recent blog on how we helped turn AERO Facebook fans into new CU members!
- Quadrupled the Credit Union’s Facebook Engagement
- Helped turn one contest into 171 new Credit Union Members
- Reached over 135,000 users on Facebook with CU’s content
OVERALL IMPLEMENTATION NOTES:
Our services for AERO are ongoing and we came on in the Summer of 2014 to help AERO staff refine their online marketing strategy and fully optimize their company social media platforms and daily posting efforts. We trained key marketing personnel in social media best practice and helped devise and implement their internal and public policies, procedures, and response plans. Social Stairway staff supplement AERO’s daily/weekly posting needs and also provide them with monthly analytics and ROI reports for Board review. AERO’s monthly Ad’s budget is quite limited, the results below have been achieved with a monthly budget of only $300-$500 for Facebook Ads and $115 for Twitter Ads.
We are currently implementing an extensive email automation campaign for AERO to better connect leads from social media to actual new member application and loan product conversions at the credit union.
FACEBOOK STATS: https://www.facebook.com/AEROFedCU
Page Likes (at beginning of each month) –
June 2014– 121
December 2014– 1,280
June 2015 – 2,389
December 2015 – 2,722
Facebook fan growth has been driven by internal staff page like contests, member page like contests, Facebook ads implemented and maintained by our efforts, and a special holiday contest co-sponsored with local TV affiliate ABC15.
Facebook Engagement – Average weekly engagement on Facebook went from 3.2% in May 2014 to 14.43% in December 2015! This later level of engagement for a Financial Institution is VERY high, where industry standard is more in the 1-2% range, or even less than 1%. Average cost per engagement through these ads was $0.17 per post.
It’s also important to note that prior to working with us the credit union was posting on Facebook but was not receiving the organic or paid reach that we helped them achieve. This is clearly shown in the reach graph below which shows that organic reach also improved with paid reach.
Website Conversion Ads Running Monthly –
Since July 2014, when Facebook ads commenced, AERO has been able to confirm 3,490 key page views of AERO website revenue generating pages, and have reached 135,000+ unique users on Facebook! These key website page views cost on average $0.84 each, and pages with traffic include the apply now pages fore loans and Visas and the membership application page. Conversions continue to grow now that all the final landing pages are set.
Facebook Page Like & Engagement Ads Targeting Confirmed AERO Members –
As of mid-February 2015, 1093 of the new Facebook page likes achieved were from confirmed AERO FCU members via custom audiences created with member email lists. In addition, members have engaged with AERO Facebook posts 11,000+ times and have clicked through to the website 456 times!
TWITTER STATS: https://twitter.com/AERO_FedCU
Followers To Date: 750+
AERO’s Twitter account is used primarily for Credit Union industry connections and best practice and general CU government policy advocacy, with some limited interaction with members.
Twitter Followers Growth-
When we started working with AERO in June, they had a small following on Twitter (~68 followers). Once we began AERO’s Twitter ads campaign in July, we saw a steady growth in followers.
Twitter Ads Progress
AERO’s Twitter ads campaign consists of two separate kinds of ads:
i. New Followers from Competitor Credit Unions and Banks in New Mexico and Arizona.
ii. Promoted Accounts specifically targeting people whose interests are Honeywell Aerospace and personal finance, and live in Phoenix Arizona, and Albuquerque, New Mexico, the communities served by AERO.
Both of these campaigns have performed well. From July 1, 2014, until mid December, the combined campaigns had 277K impressions, 898 engagements, and the total spend was $488.10. Both campaigns also contributed to a follower growth of 242 new followers.