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Digital Cross-Selling | Insuritas 2014

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In early 2014, Bankrate reported that 33% of your consumers had not set foot in a branch office in at least six months, and more than 20% had not visited in a year or longer. As your members continue to migrate from traditional in-branch banking towards online and mobile banking, credit unions nationally are struggling to translate their traditional sales efforts to a digital environment.

This webinar focuses on some credit unions' innovative efforts to leverage member data and digital marketing tools and strategies to increase products per household and deepen relationships with their members that bank online.

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Digital Cross-Selling | Insuritas 2014

  1. 1. September 2014 Digital Cross-Selling 4 Time Innovator of the Year Award Winner
  2. 2. Matt Chesky • Senior Vice President – Director of Corporate Sales •Contact Information •mchesky@insuritas.com •860-653-1182 Welcome
  3. 3. The Challenge “Outside of an improved interest rate spread, credit unions can only create revenue by adding new customers or by deepening existing relationships…the only sustainable opportunity is to sell more to the members a credit union already has.”
  4. 4. The Challenge
  5. 5. The Challenge “Three in 10 Americans haven’t visited a bank or credit union branch in at least six months” ( - May 2014)
  6. 6. “The Age of the Consumer” Consumer Intention vs. Attention – 100% Purchase Information Amazon Supply Chain Walmart Manufacturing GM, BoA, AIG Product Position Price Promote
  7. 7. Digital Engagement
  8. 8. Digital Engagement • Information • Brochure-Ware vs. • Real-Time Engagement • What does the member want? • Can you customize the member experience for them?
  9. 9. Real-Time User Engagement
  10. 10. CXM and Indirect Member
  11. 11. Think Beyond your Website
  12. 12. Social Media Driving Results • “Tell your Story” campaign – videos to win $4,000 • 36,000 new certificates ($90M) • 5,400 auto refinance loans ($96M) • 60,000 new Members
  13. 13. Intention Marketing vs. “DAI has insured 44.47% of the members who shopped with the agency…nearly 3 times the benchmark for other agencies.”
  14. 14. Creative Touchpoints
  15. 15. Can ‘INTENTION’ be Identified? The Perfect Storm of Opportunity • Car/Home Purchase • Target Breach • Young Drivers • Older Cars • Term Life • Rec Vehicles • Antiques • Pet Insurance • Wedding Insurance
  16. 16. The Results…
  17. 17. Insurance Bill Generates Offer
  18. 18. 44.28% CR @ Renewal Date
  19. 19. Best Practices • Leverage your Digital Assets • Use Layered Communication • Communicate Updates - Customize • Add Value on Top of Trust
  20. 20. Matt Chesky • Senior Vice President – Director of Corporate Sales •Contact Information •mchesky@insuritas.com •860-653-1182 Questions & Thanks

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