I was chatting with some of my colleagues at myCUmortgage this week, and a few mentioned that they needed to get to a store to purchase Father’s Day cards, which happens to be Sunday, June 16. If you haven’t chosen something for your dad, grandfathers or father figure yet, the clock is ticking.
While I appreciate the concept and meaning behind Father’s Day (and Mother’s Day, for that matter), I simply can’t embrace it. The residents of my home planet, Amicitia, are very equivalent to Earth’s amphibians, meaning we are hatched from eggs and never really form a bond with our parents. I’ve witnessed these parent-child relationships on Earth, and they are fascinating, diverse and unique. To try and get my tentacles wrapped around this subject, I made it a point to talk to my colleagues about their parental relationships, particularly with their fathers.
A common theme was that many fathers (and grandfathers alike) enjoy spinning yarns. I asked if they were tailors, and I got a lot of eye rolls, which I learned is symbolic of disbelief. I’m still learning the quirky sayings of the English language, obviously. No, those yarns, I was told, are stories. I asked what kinds of stories, and I was fortunate to get some examples.
The day when I heard these stories, I recall, was filled with a lot of work, meetings and metrics, and do you know what? At the end of the day, it was the various stories I heard that stuck in my cranium. One dad reliving the winning touchdown he scored in the regional finals. Another claiming he was childhood friends with a drummer from a famous band. And yet another casting a tale about catching a fish so big, it actually pulled him out of his rowboat and into the lake.
As a quantum physics enthusiast with a thirst for numbers and calculations, the fact that these stories stuck with me was surprising. It also led me to research this personal phenomenon further, which I quickly discovered wasn’t that personal at all.
The cranial functions of Earthlings and Amicitians are very similar, so this factoid totally applied to me: According to cognitive psychologist Jerome Bruner, “People remember stories 22 times better than facts alone.” I went on to find some interesting articles about the power of using storytelling in marketing. I immediately told this to our Marketing Team, and they looked at me like I had a third eyestalk – they were well aware of the power of these “Hearts and Homes” stories already so I asked them to divulge the details, as they could prove valuable to my credit union mortgage lending subscribers.
While numbers tell a story, they’re only part of the picture. That is, to better understand the numbers, they must be relayed through said stories, resulting in higher interest, better understanding and greater retention of information. Plus, a good story builds what can only be described as a “connection” between the communicator and the receiver.
What I learned from our Marketing Team and my research is a good story has several requirements or elements. According to Oregon Printing Communications, the requirements include character, conflict, journey and resolution. “Your character should be someone with whom your [members] can find empathy – a person who has benefited from your [credit union], for example. Presenting the conflict engages your [members] while the journey toward resolving that conflict keeps them invested. Remember, a good story leads to a resolution that inspires action and leads back to your goal.”
As a credit union mortgage lender, you know good member stories – you simply need to identify them. Following the requirements above, this story probably sounds familiar: A young couple who are members of your credit union (characters) were eager to purchase a home and start a new family. However, they faced some credit and debt challenges that they assumed were insurmountable (conflict). As their trusted financial institution, they visited your credit union to see if homeownership was even in their future. You looked at various options and found a first-time homebuyer program perfectly suited for them. You remained by their side through the mortgage process all the way to the closing table (journey). Your above-and-beyond service led to them getting the keys to their new home (resolution).
As a credit union mortgage lender, you’ve heard and/or experienced this story – and multiple variations of it – many times. These stories illustrate the credit union way of doing business, people helping people in unique and heartfelt ways, making homeownership a reality. The emotion of these stories is important to convey as are impactful results. Work with your members and colleagues to identify and craft these stories. And, of course, make sure you have their permission to share their stories and/or names and pictures.
What do you do with these stories once you have them? That’s where marketing comes in. Social media posts on platforms used frequently by your target audiences (e.g., members, potential borrowers, Realtor contacts) are excellent places to tell your stories. And on social media, we know how impactful graphics and video are in maximizing post visibility and interactions, so be sure to incorporate them when possible. Plus, don’t forget those previously mentioned metrics and numbers! They are a crucial part of the story – make them even easier to understand through graphs, charts and infographics.
In addition to social media, all these stories can be used throughout your marketing endeavors: digital marketing, flyers, posters, branch handouts, website testimonials and features, blogs, advertising, word of mouth… and whatever other marketing channels your credit union utilizes. What are some of your stories, and are you using them to their greatest extent?
The stories are there – you just need to identify them and tap into the emotions they convey. Become the resident storyteller in your credit union mortgage operations and you’re sure to see those homeownership metrics start trending in the right direction.
A very happy Father’s Day to all the dads and other father figures out there from me and everyone at myCUmortgage!