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Over  280 million Americanscarry mobile phones – thats over 90% of the nations population
8 trillion SMS/Text messages wereexpected to be sent in 2011
Smartphone subscribers using Mobile Internethave grown 45% since 2010
88% of the Millennials  text regularly- The Web hasbecome their primary source of          information
73% of mobile usersare interested in shopping     from their phone
45% of Web mobile use isspent checking email
30% of US households are     wireless only
Generating New BusinessWith Electronic Response Strategies
Let’s Talk About• Growth• Segmentation• Technology• Results
GrowthWhat are the objectives?• Growth in Assets• Growth in Loans• Growth in ROA• Growth in Profits
Profit as a Metric• Not just for  corporations/business• Key indicator for  success• Check and balances
Do you know your members?• Profitability• Growth• Retention
What do your most profitable      members look like?• What percent of your members  are profitable?• Which of them are the...
How do you find more of them?
Transformation• Use profitable members as model  for growth• Grow the % of profitable members• Objective:   •   Better fin...
Successful Strategy  Member              Profitability  Solutions
Elements of Growth         • Sell more to your           profitable members         • Create more profitable           mem...
Lifecycle Communications•    Attract      •   With one-to-one communications•    Retain/Convert      •   With new offers• ...
Statistics
How do you communicate with members?
Communication Channels• Monthly documents:  • Statements  • e-statements  • Notices  • Loan bills, etc.• Direct marketing•...
Maximizing Responses                                     1%‐2 Call to action:   Reply Cards      response                 ...
QR Codes/PURLSQR Codes                            Personalized URLs•2 dimensional barcodes             •Website with varia...
QR Codes/Personalized URLswww.cathedralpurls.com/NAFCUGrowth
Process Flow                Instant                Response
The Results
Marketing ROI Example                                                                         Color promo page            ...
Benefits of Enhanced         Communications•   Increase growth•   Improved profitability•   Data driven personal messaging...
Contact Information   Steve Miller   National Account Director- Financial Services   (315) 652-6230   smiller@cathedralcor...
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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 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: www.nafcu.org/cathedral

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

  1. 1. Over 280 million Americanscarry mobile phones – thats over 90% of the nations population
  2. 2. 8 trillion SMS/Text messages wereexpected to be sent in 2011
  3. 3. Smartphone subscribers using Mobile Internethave grown 45% since 2010
  4. 4. 88% of the Millennials text regularly- The Web hasbecome their primary source of information
  5. 5. 73% of mobile usersare interested in shopping from their phone
  6. 6. 45% of Web mobile use isspent checking email
  7. 7. 30% of US households are wireless only
  8. 8. Generating New BusinessWith Electronic Response Strategies
  9. 9. Let’s Talk About• Growth• Segmentation• Technology• Results
  10. 10. GrowthWhat are the objectives?• Growth in Assets• Growth in Loans• Growth in ROA• Growth in Profits
  11. 11. Profit as a Metric• Not just for corporations/business• Key indicator for success• Check and balances
  12. 12. Do you know your members?• Profitability• Growth• Retention
  13. 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. 14. How do you find more of them?
  15. 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. 16. Successful Strategy Member Profitability Solutions
  17. 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. 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. 19. Statistics
  20. 20. How do you communicate with members?
  21. 21. Communication Channels• Monthly documents: • Statements • e-statements • Notices • Loan bills, etc.• Direct marketing• Electronic marketing (e-alerts)• Among others
  22. 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. 23. QR Codes/PURLSQR Codes Personalized URLs•2 dimensional barcodes •Website with variable•easily scanned using any contentmodern mobile phone •URL with recipients name www.SamSample.creditunion.com Using data to generate better financial results
  24. 24. QR Codes/Personalized URLswww.cathedralpurls.com/NAFCUGrowth
  25. 25. Process Flow Instant  Response
  26. 26. The Results
  27. 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. 28. Benefits of Enhanced Communications• Increase growth• Improved profitability• Data driven personal messaging• Delivered across different channels• Instant feedback• Measurable results
  29. 29. Contact Information Steve Miller National Account Director- Financial Services (315) 652-6230 smiller@cathedralcorporation.com Maria Del Amo Director of Marketing (315) 652-6256 mdelamo@cathedralcorporation.com
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