The $644 million, St Joseph, Mich.-based Honor Credit Union reported it produced 840 loan leads in less than a week using Yak Tracker, a social media lead generation application from the Oshkosh, Wis.-based CUSO Chatter Yak!
Honor’s most recent Yak Tracker campaign, launched on March 16, has already led to 4,412 unique views and 3,075 contest entries, which equals a 69.69% conversion rate. Of the 3,075 entries, Honor has been able to match its Yak Tracker data with its core processor data at an rate of 70% (2,306 matches).
In addition to generating new loan leads, Honor, which began using Yak Tracker about a year ago, also reported a net gain of 250 new likes on its Facebook page. Honor’s 250 new likes represented 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,” Honor President/CEO Scott McFarland said. “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.”
Chatter Yak! said it believes credit unions must grow the size of their social communities. Credit unions like Honor are now proving that a strategic approach to social and digital marketing is more important than ever, according to Chatter Yak!, which also said while engagement and likes are great, turning Facebook fans and Twitter followers into new members or new loans is an even better reason to use social media.
Chatter Yak! recently announced other credit unions signed on to use its lead generation application including the $404 million, Westby, Wis.-based Westby CO-OP Credit Union; $121.5 million, Escanaba, Mich.-based Delta County Credit Union; $185.5 million, Manitowoc, Wis.-based UnitedOne Credit Union and $372 million, Frankenmuth, Mich.-based Frankenmuth Credit Union.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
