Leveraging New Media to Gain Program Donor Support: Lessons from WOCCU's MatchSavings.org in Mexico
This brief discusses how World Council of Credit Unions (WOCCU) employed social media marketing techniques to support its MatchSavings.org initiative. It is the fourteenth in a series of briefs produced by the Financial Integration, Economic Leveraging and Broad-Based Dissemination (FIELD) Support Program. The paper shares WOCCUs experiences and lessons learned which can be applied to other organizations exploring the use of social media and online fundraising to generate resources for similar programs.
WOCCU created the MatchSavings.org program and corresponding website in October 2008, to tap into the success of online microlending. Individuals could match the deposits of poor people saving for the first time in a regulated financial institution through this website. WOCCU tested several viral marketing techniques in a subsequent related program. The paper discusses lessons that WOCCU learned about social media marketing, website development, reaching influencers through public relations, email and online marketing and sustainability of funding through online giving. The lessons highlight the importance of:
- Being different;
- Developing a brand personality;
- Making a personal connection;
- Reaching economies of scale.
The paper concludes that future matched savings programs can build upon the foundation laid by MatchSavings.org program and the enthusiasm it generated.