Synergy Credit Union
Harnessing the Power of Facebook and Viral Video
Challenge
Synergy Credit Union wanted to find a way to aggressively increase their membership. When they asked for our advice, we put the idea of social marketing on the table.
Solution
We created a contest that would appeal to new members by offering a prize that would be an ideal fit - a Blackberry phone and a 1-year contract. Then we went looking for where this group "hangs out" online and found them in high numbers on Facebook. We created a campaign that was targeted exclusively to the communities served by Synergy Credit Union. Then we used the power of social marketing with a viral video component that enticed viewers to invite friends and family to be a part of the contest as well.
Result
Synergy saw a dramatic and immediate increase in membership. Not only did they acquire new members, but also the cost of this acquisition went from $50 per new member to a significantly lower $7 per new member. In addition, Synergy Credit Union was the happy recipient of being recognized as the first Credit Union in the region to leverage the power of FaceBook in reaching a very hard-to-reach demographic - 18-34 year olds.
