The State of Social Media in 2023 and What It Means for Credit unions   

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One of the top questions my team and I are asked regularly is, “Should we be on social media?”

The obvious answer is, yes.

The bigger question is which platforms should your credit union be on. After we ask some freaking questions to gain perspective on your credit union’s ideal and legacy members, we can prescribe a thoughtful, strategic answer.

Of course, the content you curate is one of the most important pieces of your social media strategy, but that will be for another blog post. Today, I want to share some data on social media to help you determine the right platforms for your credit union.

Facebook use has plateaued, TikTok has taken a step back after its initial burst of interest, and Discord is on the up. These were all findings in the most recent study from Edison Research.

The survey results indicated that Facebook continues to be the most widely used social media brand among Americans ages 12 and older, with 61% of users reporting being active on the platform. This puts it in the same 61-63% range it has achieved in since Edison’s 2018 edition of the report. We can assume that it has plateaued at around 6 in 10 people at this point.

Other legacy social platforms also remain flat. Twitter and Snapchat are unchanged at 27% of respondents being active users, while Pinterest’s 31% adoption is a small bump from 2022’s 28%. Additionally, the 44% reporting they use Instagram is within the 43-46% range set from the previous two years. Interestingly, Instagram is the most used platform for those between the ages of 12 and 34, so definitely a younger audience.

One legacy social media platform is enjoying new growth: LinkedIn has experienced an increase in active users, up to 26% in this year’s survey from 21% a year ago.

For those credit unions using or considering TikTok for your marketing mix, keep a close watch over the trends. TikTok has taken a step back after a huge rise in active users last year. In this latest survey, one-third of Americans over the age of 12 reported using the app, down slightly from 36% last year. Despite a dip in active users, which can be expected when the shiny new-ness wears off of any new toy, engagement among active users continues to rise. While last year twice as many social media users said they used Facebook (34%) more often than TikTok (17%), this year TikTok experienced more frequent usage than Facebook (22% and 20%, respectively).

The big takeaway from this study for credit unions using social media as part of their marketing and content strategy, the most-used social platform is still Facebook, according to this Edison study.

Social platforms are more than a place to watch cat videos or Uncle Eddie unload his political rants. It’s a strategic platform that, when thoughtful and creative content is produced, can engage with your members in an informal yet meaningful way. It’s an opportunity to educate, engage, and retain your credit union members and activate your brand personality.

Unsure of your credit union’s brand or ideal member? Let’s talk!

Let’s have this conversation today!

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Reh Harvey

Vice President of Digital Strategy

Reh Harvey, our Vice President of Digital Strategy, leads with diligence and fervor. Having previously been a member of Team YMC, he is excited to return to such an amazing culture and even more amazing people (his words)! Through his experience in the marketing world, he’s found the key to success is to stay on the cutting edge and to always keep evolving.
 
Although originally drawn to marketing for its lack of math, Reh now finds himself doing more math than he would’ve bargained for. But his self discipline and positive attitude make it easy for him to laugh and take it in stride. Hoping to one day visit Japan and enjoy some premium Sushi, Reh lives life by his creed: Be a good human. Do good work. And above all, just keep going.

Hailey Madej

Graphic Designer

As YMC’s in-house Graphic Designer, Hailey possesses an eye for detail and a drive to innovate. It’s no surprise though since being creative runs in the family! Inspired from an early age by her mom’s work as a Graphic Designer, Hailey is a seasoned expert whose talents bring vitality and accessibility to every project. As a UX/UI designer, she expertly blends the intuitive and the creative for all to enjoy.
 
In addition to the occasional freelance project, Hailey also lends her abilities to supporting art initiatives within her community, such as the Belleville Mural Project. Her favorite aspect of joining the YMC team is the friendly, uplifting culture and breadth of design tasks. When it comes to marketing, she believes in pushing boundaries and maybe breaking some rules to capture her audience’s attention. Her advice to those just starting out? “Always seek quality over quantity.”

Dexter Ochoa

Development Assistant

When it comes to blending logical thinking and creative problem solving, Dexter’s abilities are undeniable! Beginning his career as a Web Developer, he’s no stranger to the wide world of Marketing and Advertising. Calling Biñan City in the Philippines home, Dexter has a burning desire to visit the Alpine peaks and valleys of Switzerland. While that journey may be far off, he is still no stranger to international travel. While visiting Japan, he was able to enjoy his favorite delicacy: Sushi and Sashimi. He also learned unexpected facts about Japanese Yen, specifically that it has special markings for the blind to know its value!

Whether he’s enjoying a cup of coffee in the morning or the occasional Pale Pilsen in the evening, Dexter is eager to work with the talented professionals of YMC, and we’re just as eager to add his talent to the team as well! His marketing words of wisdom? “Be creative, and just do what you want!”

Andrew Wyche

Copywriter

Hailing from the NC state capital (that’s Raleigh if you didn’t know), Andrew is YMC’s Copywriter extraordinaire. That’s why he knows that “The verb form of ‘reconnaissance’ is ‘reconnoiter.’ The former is, strictly speaking, a noun.” Seriously, he knows his words and he’ll use those words to get bold and weird (in a good way) with his copy. Fuelled by a love for pasta, shellfish, a good single malt, or a meal consisting of all three, Andrew navigates life with a motto engraved in his heart: “Choose kindness. Always.” It is this guiding principle that has led him to explore the realm of marketing, driven by a desire to connect with people in meaningful ways. As he continues to chase his dreams, one bucket list item stands out above the rest – a pilgrimage to Scotland. With his heart set on adventure and his pen poised for creativity, Andrew’s journey is far from over.

Alex VanHaasteren

Senior Web Developer

Alex is YMC’s Senior Web Developer and, as the title suggests, she is an absolute pro! While she initially started in graphic design – working long and hard to expertly bring concepts to life – she also felt drawn to technology and applying her natural ability to problem solve. Web Development proved the perfect blend of her creative passion and technical savvy.

When Alex is out with friends – including her YMC colleagues – she’s up for Greek cuisine or some good pulled pork BBQ washed down with Diet Coke. Or an Old Fashioned, if the occasion demands. Someday, she hopes to go to Africa on a safari. Hopefully she’ll see a giraffe in the wild, because – as she’s pointed out – its neck is too short to reach the ground!

When she isn’t jamming out to T-Swift, she’s happy to impart some marketing words of wisdom, “Aim to create something unforgettable.” For day-to-day inspiration, she would remind you of two fundamental truths: You decide your happiness, and Ice cream is its own food group—not just a dessert.

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