The Weight of our Words

Words have weight.

This is something we tell our children when they say something mean. As much as they can have weight in a negative way, they can also have a positive impact.

We seem to forget the importance of our words into adulthood and in business, and specifically the value of public relations. We want more people to know about the services we offer but sometimes don’t have the resources – time, money, expertise – to get the word out. We all have varying capacity in time and skill sets that can make it more difficult to spread the word, but getting the word out is one of the most important things we can do as credit unions and their business partners.

A number of factors can affect growth, from internal to external issues. One key factor is storytelling. Sharing who has benefited from your existence. Telling stories, supported by facts and backed by data, that demonstrate how your organization is fulfilling its mission.

Credit unions, for example, have hovered around 11% to 12% market share for as long as I can remember. Members’ average age has steadily increased. Leaders talk about being the best-kept-secret like it’s a badge of honor. But what if we honored the weight of our words and the impact they can have on those around us? What if we shared a story that is so relatable that others joined us?

Credit unions are the best financial services option for consumers, but people don’t know that. They don’t understand that; they don’t feel that. Why? Because we’re not catching them and grabbing their attention where they are and we’re not relating to them in a way that is meaningful for them. Consumers need to hear and understand your words. The story credit unions have to offer can genuinely improve their lives. Change lives. Save lives.

Riding the Buyers’ Cycle

Get comfortable being uncomfortable because your work is too important not to reach more people. Share your member success stories, your expertise, your mission and values, and allow the weight of your words to spark movement.

Credit unions are a movement. Do we remember that? A movement of people helping people. Do consumers know that? Do our members-owners feel that? As the adage goes, people may not remember what you said, but they will remember how you make them feel.

Some credit unions are great at sharing their stories, but as a movement we can do so much more for financial independence. Plaster your credit union’s unique mission everywhere and talk up the work you’re doing to serve your members to serve even more consumers by building brand awareness. When all credit unions do this, we can build collectively – as a movement.

With brand awareness, we typically discuss the marketing funnel but a marketing cycle is a better way to look at it. You don’t want those members to just fall out of that funnel but to come right back around for more of what you have to offer, not because you’ve got a slick sales team but because you’re helping. 

Align your content to the marketing cycle – and for this, I’m referring to everything from content marketing to advertising to public relations – with the buyer’s cycle. Brand awareness coincides with well consumers’ awareness. Engaging with thought leadership is in step with interest and desire for an outcome. No, consumers don’t necessarily want a car loan, but they often do need a car. And finally, they decide to purchase, and you’ve given your company a shot at the business because you’ve been with them all along. Once they take the loan, in this example, the cycle begins again, so they don’t forget about how you helped them the last time and made their journey easier.

Sharing Is Caring

Credit unions’ business partners can also help to spread the word. When you see a client or prospect share information on social media, give it a <3 and reshare. When a client has been successful because of the services you provide, be sure to ask if they’d like to participate in a press release or case study with you. Even offer to tweak a version of the press release your client can use in their own public relations. I recently did this with a client, which not only yielded goodwill between them and their client but will also let more people know about the credit union’s offerings.

Putting a solid angle on the end user’s experience – your clients – is always a great way to better coverage. Check out this press release I wrote for a client (Full disclosure, I own this site): Inspire FCU CEO: Our Story Shows There Is a Path for Growth, but we got coverage in other credit union trade publications as well, including CUinsight and Finopotamus.

This is how earned media through public relations can align with any company’s owned and paid marketing for a comprehensive communications strategy. Many credit unions have a marketing person of some level, but very few have public relations person despite public relations being about getting a credit union’s story told. The difference between marketing and PR is you saying you're great at something versus somebody else citing you as an expert. It provides that third-party validation and assures readers/viewers/listeners this person does really know what they're talking about. Your audience will recognize the weight of your words and appreciate it.