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E-Statement Marketing
 

E-Statement Marketing

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E-Statement Adoption: ...

E-Statement Adoption:
How do you get your current account holders to sign up for E-Statements? How are other financial institutions succeeding at converting people to E-Statements?

E-Statement Marketing:
E-Statements save you money, but is their a cost? How are other institutions incorporating marketing campaigns with their e-statements?

About LKCS:
LKCS provides financial institutions with marketing, graphic design, commercial printing, mailing, internet development, e-marketing, newsletter production, database and one-to-one marketing, statement processing, e-statements and transpromotional marketing services. Our clients have counted on us for unrivaled experience, excellent quality, competitive pricing and superior service for over four decades.

LKCS – We do that.

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    E-Statement Marketing E-Statement Marketing Presentation Transcript

    • E-Statement Success
      Improve E-Statement Adoption and Cross-Sell Opportunities
    • Today’s Presentation
      E-Statement Adoption
      How do you get your current account holders to sign up for E-Statements? How are other financial institutions succeeding at converting people to E-Statements?
      E-Statement Marketing
      E-Statements save you money, but is their a cost? How are other institutions incorporating marketing campaigns with their e-statements?
    • Quick Poll
      How successful are your current e-statement adoption marketing efforts?
    • E-Statement Adoption - Step 1
      Remove the Barriers
      Simple enrollment process
      Online registration a MUST! No paper forms!
      LKCS – account number, last 4 digits of SSN, password, MFA questions (if applicable), disclosure
      Consider home banking single sign-on
      LKCS – multiple home banking providers, members click one link and accept disclosure
      Easy Opt Out
      LKCS – settings check box to revert to printed statement
      IDEA: One Click E-Mail Marketing Enrollment
    • E-Statement Adoption - Step 2
      Know Your Demographics
      Target marketing
      LKCS client demographics
    • E-Statement Adoption – Step 3
      Tout the Benefits – “What’s in it for me?”
      Green/Eco-Friendly
      If all U.S. households stopped receiving paper bills and statements, 687,000 TONS of paperwould be saved every year.
      34% of consumersswitched to e-statements to reduce their impact on the environment.
      43% of consumers said they are more likely to do business with companies they perceive to be green.
      22% said green initiatives cement the bond they have with their bank
      Women are more likely to say that environmental impact is “extremely important” in banking decisions.
      Source: Javelin Strategy + Research Green Banking Report
    • E-Statement Adoption – Step 3
      Safer than Paper Statements
      E-statement data is encrypted through a 128-bit “Secure Sockets Layer”, which is the standard for data encryption on the Internet.
      According to Verisign, “at current computing speeds, a hacker with the time, tools, and motivation to attack using brute force would require a trillion years to break into a session” protected by a 128-bit security certificate.
      The user probably would have logged out of their e-statements by then. 
    • E-Statement Adoption – Step 3
      Safer than Paper Statements (continued)
      Encourage people to look for the “lock” symbolin their browser.
      LKCS e-statements are further protected by an Extended Validation Certificate, so you can tell account holders to look for the Green Bar.
      Remind users to protect their account number and password -- that’s the key to e-statement (and home banking) security.
    • E-Statement Adoption – Step 3
      Additional Benefits:
      Faster Delivery than USPS Mail
      E-Statement e-mail notifications typically sent within one day for LKCS clients
      Available from Anywhere with Internet Access
      Instant Access to Account History
      At least 6 months and up to 18 months (or longer) for LKCS clients
      FREE
    • E-Statement Adoption – Step 4
      Pick the Low Hanging Fruit
      Start with Home Banking users
      Go after them again and again
      Place e-statement ads within home banking
      Contact them by e-mail with one-click opt-in
      Don’t have current e-mail addresses? ASK FOR THEM at all contact points.
      Some LKCS clients have converted large percentages of online banking users to e-statements.
    • E-Statement Adoption – Step 5
      Promote, Promote, Promote
      E-Statements are the last thing on your account holders’ minds
      Utilize ALL Media: direct mail, web banner ads, e-mail marketing, online banking banners/links, deposit slips, ATM receipts, lobby signage and so on
      Promote E-Statements within Printed Statements – envelope backer ads, statement inserts, statement ads/onserts, statement messages, etc.
      Raffle drawings DRAMATICALLY improve e-statement registration – triple you sign-up rates by offering a prize (draw from all e-statement users to maintain loyalty)
    • E-Statement Adoption – Step 5
      • Employee/Branch Contests and Incentives
      Your front line staff can do the work!Arm them with banners, posters, buttons and opt-in forms. Set up incentives or have branches compete with each other.
      Set up a home banking/e-statement demo kiosk. Have an employee greet members, demonstrate e-statements, and sign them up right on site.
      ASK!Keep asking people to sign up for e-statements. Explain the benefits.
    • E-Statement Adoption – Step 5
      New Accounts
      Sign account holders up for e-statements when they first open their account! Have them tell you if they don’t want e-statements.
      Design some products to minimize/eliminate fees with e-statements and other e-services.
    • E-Statement Adoption – Step 5
      Buy the Opt-In If Needed
      Everybody wants something for their effort….
      LKCS’ clients have found that $5 appears to be a magic figure when it comes to enticing e-statement enrollment
      Cash vs. Logoed Product doesn’t seem to matter
      Have incentives available at teller and drive-up windows for instant e-statement opt-in rewards.
    • E-Statement Adoption – Step 5
      A few ideas in the $5 range:
    • E-Statement Adoption – Step 6
      Track the Results
      Monitor new e-statement enrollments during marketing campaigns.
      LKCS includes opt-in dates for easy tracking.
      Look for any members who revert to printed statements and find out why they switched back.
      Remember you have their e-mail address, so you can ask them.
      Match back account numbers for any targeted campaigns or special offers.
    • E-Statement Adoption – Step 6
      TIP: Don’t have the marketing budget? Remind management that each person who signs up saves your institution $0.50 or more per month.
      Savings Example:
      2,500 new e-statement users at $.50 per month
      Monthly Savings: $1,250.00
      Annual Savings: $15,000.00
      How much would your CEO give you to spend on a marketing campaign that generates an ongoing $15,000 annual savings?
      And that’s only for 2,500 additional members – some LKCS clients have over 30% of members on e-statements.
    • E-Statement Marketing
      Just because you are saving money with e-statements doesn’t mean you should sacrifice all marketing opportunities.
      How are your best members going to know about your latest specials and newest products?
    • On the E-Statement
      Banner Ads
      Link to web pages or PDFs
      Appear for all members or selectively
    • On the E-Statement
      Statement Ads/Onserts
    • On the Notification
      Custom E-Statement E-Mail Notification
    • On the Way In
      Custom Login Page
    • Questions?
      Questions/Comments
      Sid Haas
      Vice President of Business Development
      Direct 815-220-3904
      sid.haas@lk-cs.com
    • Thank You
      Thank You!