MADISON, Wis.–The CUNA Marketing & Business Development Council has published a new white paper, “5 Stars or Bust: Digital Reputation Management.”
“The significance of reputation management, specifically in online and digital environments, is coming to the point of ‘make or break’ for an organization—and that includes credit unions,” the Council said. “At points in the not-so-distant past, restaurants and retailers were the core industries that concerned themselves with online star ratings. Today, that field of vision is much broader.”
The broader vision, the Council, noted includes reviews on platforms as diverse as Yelp, WalletHub, Glassdoor, Google, Indeed, NerdWallet, Consumer Reports, Deposit Accounts, Facebook, Bankrate, Super Wallet, and more.
“Some of those reviews are glowing and others are scathing,” the Council said. “It makes one pause and wonder, ‘What are members and other consumers saying about my credit union through these review platforms?’”
Issues Examined
In the white paper, the Marketing & Business Development Council examines:
- The definition of digital reputation management, and why it should concern credit unions
- How to determine and track a credit union’s “digital footprint”
- Some common misconceptions about digital reputation management
- The benefits a proactive, well-managed digital reputation management plan can provide, and how digital reputation can affect revenue, non-digital reputation, growth and other key performance indicators
- How a credit union can actively build a favorable digital reputation and how a credit union can recover from an unfavorable digital reputation.