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Getting More Business from Your Members with Electronic Strategies (Credit Union Conference Session Presentation Slides)


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In this 2012 Strategic Growth Conference session, learn how effectively communicating with your members and potential members has recently become more complicated. Explore how you can successfully …

In this 2012 Strategic Growth Conference session, learn how effectively communicating with your members and potential members has recently become more complicated. Explore how you can successfully integrate electronic response communications with conventional communication vehicles to stimulate your credit union’s growth. Discover the importance of your members’ data and how segmentation can make your growth strategies more valuable. You will walk away with three tools that you can start implementing immediately to make your communication strategies work better for you while developing your members’ engagement and helping your credit union grow. More info at:

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  • 1. Over 280 million Americanscarry mobile phones – thats over 90% of the nations population
  • 2. 8 trillion SMS/Text messages wereexpected to be sent in 2011
  • 3. Smartphone subscribers using Mobile Internethave grown 45% since 2010
  • 4. 88% of the Millennials text regularly- The Web hasbecome their primary source of information
  • 5. 73% of mobile usersare interested in shopping from their phone
  • 6. 45% of Web mobile use isspent checking email
  • 7. 30% of US households are wireless only
  • 8. Generating New BusinessWith Electronic Response Strategies
  • 9. Let’s Talk About• Growth• Segmentation• Technology• Results
  • 10. GrowthWhat are the objectives?• Growth in Assets• Growth in Loans• Growth in ROA• Growth in Profits
  • 11. Profit as a Metric• Not just for corporations/business• Key indicator for success• Check and balances
  • 12. Do you know your members?• Profitability• Growth• Retention
  • 13. What do your most profitable members look like?• What percent of your members are profitable?• Which of them are the most profitable?• What attributes do they hold?• What do they buy?• Why?
  • 14. How do you find more of them?
  • 15. Transformation• Use profitable members as model for growth• Grow the % of profitable members• Objective: • Better financial results • Healthier credit union • More engaged members • More satisfied members
  • 16. Successful Strategy Member Profitability Solutions
  • 17. Elements of Growth • Sell more to your profitable members • Create more profitable members from existing members • Add new profitable members from outside • Add new solutions
  • 18. Lifecycle Communications• Attract • With one-to-one communications• Retain/Convert • With new offers• Grow • With relevant products Multi touch communications to offer more products
  • 19. Statistics
  • 20. How do you communicate with members?
  • 21. Communication Channels• Monthly documents: • Statements • e-statements • Notices • Loan bills, etc.• Direct marketing• Electronic marketing (e-alerts)• Among others
  • 22. Maximizing Responses 1%‐2 Call to action: Reply Cards response  rate 2%‐4%  Toll Free  response  Numbers rate 2%‐3%  Visits to the  conversion  Website rate 8%‐9%  QR Codes response  rate 9%‐10%  PURLS response  rate
  • 23. QR Codes/PURLSQR Codes Personalized URLs•2 dimensional barcodes •Website with variable•easily scanned using any contentmodern mobile phone •URL with recipients name Using data to generate better financial results
  • 24. QR Codes/Personalized
  • 25. Process Flow Instant  Response
  • 26. The Results
  • 27. Marketing ROI Example Color promo page  Direct Mail Color promo page w/PURL, QR Code *Documents Mailed 10,000 10,000 10,000Marketing Messages 10,000 10,000 10,000Response Rate 1.0% 3.0% 6.0%Responses 100 300 600Conversion Rate 30% 30% 40%Sales 30 90 240Revenue per order $300 $300 $300Total Revenue $9,000 $27,000 $72,000Marketing Cost per piece $0.55 $0.085 $0.205Total Cost $5,500 $850 $2,050ROI 164% 3,176% 3,512% * Scans, logins are trackable for campaign measurement
  • 28. Benefits of Enhanced Communications• Increase growth• Improved profitability• Data driven personal messaging• Delivered across different channels• Instant feedback• Measurable results
  • 29. Contact Information Steve Miller National Account Director- Financial Services (315) 652-6230 Maria Del Amo Director of Marketing (315) 652-6256