Live From The 1: Using the Power of Social Networking to Build Your Credit Union
Tara, the author of The Whuffie Factor: Using the Power of Social Networks to Build Your Business, says that in the social media space, market capital flows from having high social capital. Without high levels of “whuffie” (I can say that word all day BTW), you lose your connections to online communities, and any recommendations you make will be seen as spam.
The first part of her presentation echoed Brent Dixon’s yesterday. Viral social media content is mostly emotional, positive…awe-inspiring. People are sharing personal information and feelings like never before via social media (even their location – gasp!). The social web is growing and changing the way we interact with each other.
One particularly interesting finding she mentioned is that social networking affects the brain like falling in love – if a company or brand raises our oxytocin levels, we are more likely to connect with them.
Some great examples and videos Tara showed the group:
- “A Vision of Students Today” video on Gen Y & technology
- Patelco Credit Union’s Facebook page (& contests – she highlighted one video in particular on Patelco CU during the “zombie-apocalypse“)
- The famed Young & Free Alberta’s “Difference Between Bank & Credit Unions” Video
- BankerSpank videos
- CU*Swag’s entry into the Young & Free HQ’s “Money in a Bank” music video contest
Tara’s final words – “This stuff is important. All you need is love. May the force be with you.”