I’m talking about, of course, all day breakfast! This change of policy will enable those of us who crave a McMuffin at 10:45 a.m. to enjoy a #1 combo despite a slow start to the day. Rejoice! I was thrilled to learn the news but it also created questions. How did this come about and why now? I considered titling this post “what did McDonald’s know and when did they know it?” McDonald’s has been serving the Egg McMuffin since 1972. I’m sure masses of people didn’t just decide in 2015 that it would be nice to be able to order what they wanted, when they wanted it. McDonald’s points to literally tens of thousands of requests on social media to serve breakfast items throughout the day. So, do we extoll the virtues of social media or rationalize that it was only declining sales that brought McDonald’s to this epiphany?
Either way, there is no doubt social media is changing business. People want to be heard and they now have a vehicle to voice their opinions. It’s an exciting and scary proposition for many businesses including credit unions. It seems to me that many credit unions are just going through the motions with social media. They want to have a Facebook presence and a Twitter following but they only use those tools as an electronic billboard. There are many marketing messages in a very controlled environment but no interaction with members. Are credit unions missing a chance to listen and engage with members? Do you really know what your members want without their feedback or are you satisfied with periodic member surveys? I’m sure McDonald’s already knew customers would buy breakfast items after 10:30 a.m., but what else are they learning from listening to their customers?
I can certainly understand the reluctance to give voice to disgruntled members. But in a time where consumers are craving authenticity and transparency, is it worth the risk? What are the opportunities to involve, engage, retain, cross-sell and acquire members via Facebook and Twitter? I’m certainly not a social media expert, but it does seem many credit unions are going through the motions but not embracing the potential power of social media.