'Fun' First--or How Would You Phrase it?

Posted by Lisa Hochgraf

I've been having trouble articulating an idea that came into my head during FORUM Symposium early this month in Indianapolis. Maybe you can help.

The idea is basically that entertainment in marketing brings people in and makes it possible to effectively tell people the "boring" stuff they need to know.

Here's an example of what I'm driving at: Larissa Walkiw made Young & Free Alberta's blog so fun that young people got charged up about it--and, ultimately, signed up for a lot of free checking accounts from Common Wealth Credit Union, Lloydminster, Alberta. My guess is they didn't come for the checking accounts initially. They came to be entertained and then happened to sign up.

And then yesterday I (belatedly) read Melissa Troiano's "Banks ... one step ahead" post on the Filene blog (Thanks, Mary, for pointing this one out!). The post discussed how widely known personal finance adviser Suze Orman is now FDIC's paid spokesperson. There were lots of good comments on the post, but a key takeaway for me was that the FDIC wasn't afraid to get people's attention now--entertaining them with bronzed and blonde Suze Orman--and follow up with the details later.

Ron's "Game-Based Banking" post on this blog yesterday suggests that gaming can bring people in and form connections with them. Again, fun first, product sales later.

So is "fun first, detailed explanations later" a new mantra for communicating with members and potential members? How would you phrase this mantra better? Do you have additional examples of entertainment leading the way for good information about financial products and services?

Comments

[Tim McAlpine]

Lisa, I couldn't agree more. I hear people in CU-land complaining that banking is boring. Nonsense. It is what you make of it. Tell me an interesting and entertaining story that aligns with your CU brand and I will come back for more. Each visit to your branch, your website, your microsite, your blog, your whatever should leave visitors wanting more.

Blenders are boring right? Well, Blendtec has made them an Internet sensation with its 'Will it Blend?' microsite - http://www.willitblend.com/ - which has translated into huge PR and in the end sells a warehouse full of $500 blenders.

[Lisa Hochgraf]

Tim, Right on! In the comments on the Filene discussion, the relevant informational Web site from NCUA was mentioned as being of better quality than Suze Orman's advice on Oprah.

But I can't help thinking of the difference in headline: Visit Good Informational Government Web Site vs. Hear Oprah Discuss With Suze Orman What You Should do With Your Money. Suze and Oprah, hands down, get more attention.

[Morriss Partee]

I am all for for making learning fun, and for CUs to tell their stories in a fun and entertaining way.

http://everythingcu.wordpress.com/2008/02/06/rock-and-roll-baby/

But just because the FDIC hired Suze Orman doesn't make THAT kind of thing (celebrity spokesperson) the right route to take. For 99% of credit unions, celebrities are the WRONG way to go, because what are CUs all about? Regular people helping regular people. The minute you start using celebrities, (ala CUs of Washington campaign featuring Carl Weathers), you are sending a message that is in direct conflict with your core values, which only ends up confusing and alienating the people you were trying to connect with.

[Lisa Hochgraf]

I'm certainly not suggesting that CUs use Suze specifically. But I am suggesting that they not be afraid to be a little shallow (if that's the right word) --to make a big splash, to tie in to national players-- in order to hook their audience.

On the other hand, that means that their substantive follow up has to be GOOD.

[Morriss Partee]

I think we are agreeing that Ms. Orman as a spokesperson shows a certain kind of shallowness on the part of the FDIC. And I advocate that it's a shallowness that should be entirely avoided by the CU movement.

Instead of thinking about this in terms of fun first, "spinach" second, let's think about education that simultaneously entertains (or entertainment that simultaneously educates). It is possible to do both at the same time, and the hit video games Guitar Hero and Rock Band are proof.

I've elaborated on what CUs can learn from Rock Band here.

http://everythingcu.wordpress.com/2008/10/24/what-cus-can-learn-from-rock-band/

[James]

Servus Credit Union won't be asking its CEO to return a $3.6-million bonus. Steve Blakely was given the bonus in 2008 during a merger with two other Alberta credit unions, Community Savings and Common Wealth credit unions.