The Virginia Credit Union League has launched a new statewide social media campaign with a dual goal of raising awareness about the benefits of not-for-profit cooperatives among young consumers (age 18 to 35) and encouraging them to become credit union members.
The social media campaign is based on research that shows consumers “feel they are taking a ‘hit’ from the economy and are suffering the impact of higher prices and rising fees,” according to the VCUL in Lynchburg.
The league said a creative team leveraged that consumer research to develop an amusing video that takes the feeling of being hit to a literal level. The video features a George Washington-type character, representing money, who taunts an average guy going about his day.
The video can be viewed on Facebook, YouTube and at the newly launched site www.quitthehit.com. The video directs consumers to this new site where they can learn about the benefits of credit unions, as well as search for a credit union they may be able to join.
“This is a bold, innovative strategy for credit unions in Virginia. We tend to be more conservative in our advertising approach, but this campaign has more edge and seeks to leverage the might of social media, said Rick Pillow, VCUL president. “I am proud of our credit unions for respecting the consumer research and for their commitment to this non-traditional campaign.”
The awareness campaign was funded by 50 Virginia credit unions, the league and other sponsors. The social media campaign will not include traditional advertising such as television and radio.
The benefits of a social media campaign include the ability to reach a large number of people on a smaller budget and measurement and tracking capabilities, the VCUL said.