OSHKOSH, Wis.– Chatter Yak!, a CUSO specializing in marketing, advertising and social media consulting, said its Yak Tracker solution helped Honor Credit Union to generate more than 800 new loan leads from social media.
The credit union, which has been using Yak Tracker since March 2015, launched its most recent campaign on March 16, and reported 4,412 unique views and 3,075 contest entries (69.69% conversion rate). Of the 3,075 entries, Honor CU has been able to match their Yak Tracker data with their core-processor data at “an astounding rate of 70% (2,306 matches),” the credit union reported. As a result, Honor CU now has 840 new loan leads that it is following up on and report that many of the leads have already turned into loan applications.
In addition to generating loan leads that the credit union was previously not getting, Honor CU also reported a net gain of 250 new likes on its Facebook page. Honor CU’s 250 new likes represent a 6% increase in seven days time. “Yak Tracker has provided us with an opportunity to reach out to members and improve their financial well-being. Utilizing Yak Tracker has allowed Honor to reach literally thousands more members than the traditional social media channels would have previously allowed us to do,” said Scott McFarland, CEO of Honor Credit Union
“Credit unions like Honor CU are now proving that a strategic approach to social and digital marketing is more important than ever,” said Yak Tracker. “Engagement and Likes are great, but being able to turn your Facebook fans and Twitter followers into new members or new loans is an even better reason to use social media. At Chatter Yak!, we believe that credit unions must grow the size of their social communities, but we also understand that likes don’t keep the lights on and loans do. CEOs and directors don’t want to hear about likes, follower count or the extent of your reach. CEOs care about the health of their credit union and how they are growing the credit union and saving their members money.”