Upping the Ante With Facts

If everything we've told you so far hasn't convinced you that you need to up the ante with video for your credit union, maybe these facts will help...

Video Climbing Even Higher

A CROWDED SPACE

eMarketer estimates that online video advertisement spending grew 48% to $1.5 billion in 2010 and will hit $5.5 billion by 2014. About a third of online retailers offer video on their sites, according to Vovici Corp. Focus your message, your story, on your particular audience. Relevance cuts right through all that background noise.

SOCIAL VIEWING 

Facebook has become the third most popular video viewing destination online. Nielsen reports online video viewing on social sites was up 98% in 2009. Videos viewed on Facebook was up 1800% in 2010. Add video to your social media routine, even if it’s just a regular face-to-face update for members.

PLAN AHEAD

Hey, people get camera-shy sometimes. Consult with your HR and marketing team. Figure out a video policy that works for your credit union so everyone is on the same page.

Did You See That Video?

DID YOU SEE THAT VIDEO? 


...with the kid after visiting the dentist…


...where the soldier comes home to his dog…


...where the deaf girl hears for the first time…


YOU GOTTA SEE IT!


We’ve all had that experience, where we want to share what we just saw with our friends. What spurs that urge? It’s a touch of reality. A dash of authenticity. The storyful moment captured.

WATCHING ON THE CLOCK 

65% of online video views were streamed between 9 a.m. and 5 p.m., Monday through Friday, making this video primetime due to the faster Internet connections available at work, reported Nielsen Online. If this is your audience, make sure your video is safe-for-work. (You don’t want to get your viewer in trouble with the boss.) Also keep your video very short so your viewer gets the gist quickly.

PLAINLY PASSIONATE

According to crowd-funding website Kickstarter, projects with video pitches are 90% more successful than those without. The reason? “Audiences respond to passion, sincerity, and an ability to execute. They want to see that in your video.” Whether it’s pitching a project or delivering a promise for your brand, audiences know when you’re true to yourself. You don’t need a high-gloss production if the storyful moment feels authentic and real. In fact, many big-budget campaigns try to look a little more plain, just to feel more homemade.

It's Happening Now

GO CAPTURE IT

These days it’s very easy to get started. With just a cameraphone and a keen eye, you can capture a storyful moment as it happens and share it just as quickly. Here are some juicy statistics and tips to keep in mind as you start snapping videos.


MORE THAN JUST CAT VIDEOS

In 2008 alone, 80 percent of U.S. Internet users watched five hours of video, an average duration of 3.2 minutes per video, according to comScore. But the secret to keeping a viewer’s attention is hooking them  the first ten seconds. It helps to have a video shown in a relevant context, such as a like-minded blog. With viewers already in a receptive state of mind, your video has much more impact. When your video is part of a series, you start building anticipation for each installment.

The Emotional Impact of Video

Laugh or cry, shock or pride, nothing beats video for 

emotional impact. 

A good video captures a singular moment, a “storyful” moment, that begs to be shared. Video can be experimental, immersive and flavorful.

But is it really right for credit unions? Video is more accessible than ever. The average Joe can record more, do it more frequently, and get more use of existing videos all without breaking the budget. When you host videos on your website – or on a hosting site like YouTube and Vimeo – you effectively have your own video channel to tell your credit union’s story! It doesn’t end there either. When you have video assets, you can run them on a loop in your branches. When you combine that with a well-trained staff and useful collaterals, you have a complete campaign right there! You can even get super-localized with your videos, playing certain ones in certain branches based on your demographic research in that area. Heck, you can even play videos on ATMs.

Even with all these options, the question remains: Is video right for credit unions? Spoiler alert: Yup. You just have to find your storyful moment. It’s a story, scene or scenario that captures attention and embodies what it
means to be a part of your credit union.

10 Things To Consider During A Change In Leadership

Over the past couple of weeks, you eavesdropped on a conversation between myself and a credit union CEO, Thad Angelle. Thad told us what he did to make the internal culture at his credit union strong and even gave you a good book recommendation! But if you don't have time to sit down and read "Thank God Its Monday" and you want some action items to put to action, we have some for you.

10 THINGS TO CONSIDER DURING A CHANGE IN LEADERSHIP: 

1. Focus first on shoring up your internal culture and earning the trust of your staff.

2. Foster collaboration among leadership and staff at all levels to sync up the team.

3. As the leader, find a principle or philosophy you can personally champion – and then live it.

4. Acknowledge staff uncertainty about what change means to them. So set high expectations for the organization but also work to calm the fears of the individuals.

5. Take a break from the C- suite and visit the front lines often.

6. Address challenges swiftly, rationally, realistically and with confidence.

7. Acknowledge fall out with any change in leadership. Use the opportunity to build the right team.

8. Embrace your leadership style. Be who you are, but seek ways to integrate that style with as little disruption as possible.

9. Focus on one manageable initiative at a time. Complete it and move on to the next opportunity.

10. When you reach the top, make sure you’re not alone. You can’t do it all on your own.

How Internal Culture Affects MCT's Bottom Line

Have you been enjoying the conversation so far? Don’t worry, it doesn’t stop here…

HOW HAS THIS HELPED YOUR BOTTOM LINE? 

People now make better decisions. We’re not going back to fix things. Our quality of work is better. There’s a new mindset that if it’s not great, it’s not good enough. Now, we hold each other to a level of accountability. Looking at the numbers, we’re pacing to meet our year-end income goal. While consumer loans outstanding declined for almost five years in a row, the first quarter of the year we grew consumer loans by $3 million.

This was unbelievable. Managers set more aggressive goals and in the first quarter every branch manager met them. Wow. But the biggest result is the unity within the executive team, the encouragement all around, and a staff believing in themselves, doing the right thing. That’s building member loyalty. Employee turnover was a revolving door in the past, but now that door has slammed shut.

WHAT IS STILL YOUR PAIN? 

There was once a time in my career when I might try to bulldoze over people. I got where I wanted to go, but found that I was alone. Today I care about more than just people’s work. I care about them personally. So now, the most important thing is making the right decisions together when we are faced with a challenge. Staying ahead of the curve like with regulatory changes that are coming along every day, week and month creates a lot of pain. What may be the case today, may not be tomorrow – but our culture will not change. 

WHERE DO YOU GO FROM HERE?


MCT is really walking our talk. But no one outside knows it, yet. And the message has got to get out to the people. If we can get the word out, I can’t believe anyone wouldn’t want to do business with us.

So that was MCT’s story… what’s yours? Is your credit union undergoing a change in leadership? Wondering what next steps to take?  Tune in next week for 10 Things to consider during a change in leadership.