An annual report by The Financial Brand has found that one-third of once actively tweeting CUs have called quits on their Twitter efforts. Additionally, the study found that follower growth is lagging, and of all followers, 20 percent are "junk."
The study's authors point out that the early adopters among FIs launched their Twitter accounts in 2007. "That means Twitter has been around for six years now in the retail banking industry — hard to call it an 'experiment' any longer," Financial Brand said.
Within that six year span some larger FIs have developed traction for their Twitter programs, but others found they were just spinning their wheels, leading one-third of them to give it up.
Taken together, credit unions reach a Twitter following equal to less than one percent of their collective membership. That's an average of one follower for each $1.5 million in CU assets, or one out of every 126 CU members.
Readers can compare the full 2012 and 2013 survey results at the Financial Brand website.
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