Why should or should not the Credit Union use myspace, facebook, or other social media outlets?

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I believe that if used properly, social media is the most effective method of consumer influence in today’s market.

I can’t source the following numbers, but I know that I’ve seen them somewhere credible before:
-30% of online consumers find a manufacturer website to be credible.
-70% of online consumers find media and/or journalists credible.
-68% of online consumers find other consumers (people whom they have never met) to be credible.

Pretty powerful stuff, no?

Create a video blog

This sounds kinda like an essay question for school.

“Should” reasons/rationale:
* social media is a way to reach a target market, much like advertising on specific tv shows or cable channels
* social media is influential
* social media is new marketing avenue
* other companies are doing it successfully
* stay competitive
* keep in touch with current trends
* young people have lots of questions about money management & credit unions can provide answers

“Should not” reasons/rationale:
* potential for credit union to lose credibility (if they’re not upfront about who they are & what they do — like when a company’s marketing person “disguises” him/herself as average citizen who says good things about products, services but who is really just pitching for the company)
* social media is unknown territory with lots of potential pitfalls
* young people may resent adults entering their “turf”
* adults aren’t as savvy when entering the cyberspace world of young people

Hope this helps put you on track for answering the question.

Good luck!