PURLs and QR Codes White Paper for Credit Unions


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Personalized URLs (PURLs) and Quick Response (QR) Codes are two response tools credit unions can apply to member communications, including transactional documents, to reach members on an individual basis using tailored messages. Research indicates that a growing number of people across many age groups are turning to electronic communications. Using these resources, credit unions can explore new business opportunities with targeted messaging that segments audiences based on their particular interests. For more information visit http://www.nafcu.org/cathedral

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PURLs and QR Codes White Paper for Credit Unions

  1. 1. PURLs and QR Codes White PaperResponse tools credit ACCOUNT # 111-1111 STATEMENT PERIOD 12/06/2010 PAGE Page 1unions can apply to member 632 Ellsworth Rd. Rome, NY 13441 800.698.0299communications, including DFFFFAAATADTFFADAFFADDDTDAAFTFDTDDDDAAAATADAAAFTFDTTFDTDTTDAFAAAF Sam, MAKE A Sam Sample SPLASH!transactional documents, 123 Anywhere St. Anytown, NY 12345 New and Used Boat Loans from Trusted Credit Union. Sam, scan this code with your mobile phone to accessto reach members on an your special offer or go to www.cathedralpurls.com/QRindividual basis using tailored ADVANTAGE FREE BASIC ACCOUNT 111-1111 LAST STATEMENT 11/05/10 96.71messages. 2 CREDITS 3,500.00 2 DEBITS 693.56 THIS STATEMENT 12/06/10 2,903.15 _ _ _ _ _ _ _ _ OTHER CREDITS - - - - - - - - - DESCRIPTION DATE AMOUNT PAYROLL PayrollAccount# 11/10 1,750.00 Sam PAYROLL PayrollAccount# 11/24 1,750.00 W , Trust _ _ _ _ _ _ _ _e_ OTHER DEBITS - - - - - - - - - o o are ed C DATE DESCRIPTIONf ur now re ca 009780 boat 9576 ri d t Unio 11/12 ATM Withdrawal 11/11/10 15:03 2292of MAINiSTREET AMOUNT ANYTOWN NY n m fe n nh 100.00 loaEND LOAN Account2 a 11/22 us HOME EQUITYaOPEN ns. g low ake PAYMENT TOe d bo sad at. splash Star AND RETURNEDtITEM FEESo- - inte 593.56 - - - ITEMIZATION OF OVERDRAFT ting re eal f - this a s r r sum t 2.9% ates on you. mer APR a , you ll 632 Ells wit wor th R For oad, sca a snea TOTAL FOR THIS h a Rom n k eN you this c peek new YEAR TO DATE Y, 13 r o 441 or g mobile de wit , cath o to Sa devic h ww w.c TOTAL or athedr e PERIOD alco QR edralp mSam rpor urls p atio n.co .com le. m 1-80 / TOTAL OVERDRAFT FEES: 0-69 8-02 .00 .00 99 TOTAL RETURNED ITEM FEES: .00 .00 ant *** C O N T I N U E D *** you w S am, do edit Union grow? d Cr Truste
  2. 2. PURLs and QR Codes White PaperExecutive SummaryPersonalized URLs (PURLs) and Quick Response (QR) Codes are two responsetools credit unions can apply to member communications, including transactionaldocuments, to reach members on an individual basis using tailored messages.Research indicates that a growing number of people across many age groups areturning to electronic communications. Using these resources, credit unions canexplore new business opportunities with targeted messaging that segments audi-ences based on their particular interests. The electronic format ensures a clearresponse path for users and increases the value they place on printed transactionaldocuments as member communications.QR Codes and PURLS add value to printed communications including transactionaldocuments and direct mail. They create opportunity to generate an electronicresponse from a printed document, which is trackable and measureable. The . . . nearly four out of 10 (37%) ofcustomer has the benefit of understanding what offer has produced results so theycan do more and eliminate or change those that have not. respondents surveyed in late 2010 said they use mobile devices toPURLs and QR Codes browse or research products andGone are the days when credit union members made weekly trips to local branch- services.es to conduct in-person transactions. Credit union members have now grownaccustomed to receiving their transactional data whenever and wherever theywant it. Many can access their personal financial data right at their finger tips byusing a cell phone. According to the Art Technology Group (ATG) (201 nearly1),four out of 10 (37%) of respondents surveyed in late 2010 said they use mobiledevices to browse or research products and services. This adoption of technologypresents an opportunity to offer tailored, individual messages to consumers whichcan then be tracked.According to Mobio Technologies, Inc. (201 the ma- 1), . . . the majority of QR scanning injority of QR scanning in the U.S. is performed by con- the U.S. is performed by consumerssumers ages 35-44 (25%), with steady adoption beingseen among those ages 18-54 (84%). ScanLife (201 1) ages 35-44 (25%), with steadyindicates that mobile barcode (1D and 2D) scanning adoption being seen among thosetraffic has increased over 800% in the past year. ages 18-54 (84%).AboutTwo communications tools that are increasing in popularity are PURLs (Personal-ized URLs) and QR Codes (Quick Response Codes). PURLs are Web pages ormicrosites that are tailored to individual visitors. The pages are created using adatabase with information about each user that credit unions already have. QRCodes are two-dimensional barcodes that store data. Made up of small black
  3. 3. Trusted Credit Unionsquares on a white background, QR Codes contain information from a source thatcan be retrieved, transferred to a cell phone and tracked.Innovative Messaging The Short Code URL is the mostBoth PURLs and QR Codes provide innovative outlets to disseminate information. faceted, since it is readable by allIn particular, PURLs can reach members on an individual basis through custom- QR Code Readers worldwide anddesigned Web pages. These pages have a unique and personalized Web address also offers relevant statistical data.where each recipient will see his/her name. This establishes a personal andengaging experience to inspire that person to visit the microsite.QR Codes offer several options, particularly Online Codes and Offline Codes. On-line Codes point to an Internet address and require an Internet connection. Thereare three sorts of Online QR Codes:n Short Coden URLn Short Code URLThe Short Code URL is the most faceted, since it is readable by all QR Code Read-ers worldwide and also offers relevant statistical data. Offline Codes do not need anInternet connection and are directly resolved on the phone. The following contentcan be encoded from an Offline Code:n Addressesn Textn Short Message Service (SMS)n Telephone NumbersThe most common way to access the information encoded in a QR Code is to scanthe code with a camera phone or any other smart mobile device. Both PURLs andQR Codes generate real-time responses from printed or electronic communications.Business Analysis ToolsThe two tools are invaluable to organizations that want to reach their custom-ers more effectively. First, PURLs provide a personalized electronic response to atargeted message that is reserved for individual recipients. As a result, they are anexcellent avenue to reach, respond to, or interact with customers. QR Codes areequally effective. They enable an electronic inquiry from a mailing, which creates a
  4. 4. new communications channel. Once on a user’s phone, the QR Code provides writ- Frequency of consumersten details about a business, or perhaps a URL, where a prospective customer can scanning QR codesclick for additional information. Organizations can then monitor and track prospec-tive customer click-throughs and activity once someone has scanned the QR imageon the document with a mobile device. According to the advertising agency MGH(201 the top uses of those who said they have scanned a QR Code were to get a 1),promotional deal (53%) or obtain additional information (52%). 38% 62%An Excellent Resource for Credit UnionsCredit unions are an ideal industry to utilize PURLs and QR Codes because it isessential to continually reach members in new and better ways. Both tools offerinnovative methods to interact and communicate with members, particularly byreaching people on a different level using electronic communications. This new ve-hicle is becoming increasingly popular because it “speaks” to members of “Genera-tion Y” as well as others wanting to learn more about the new phenomenon. People Percent of consumers who haveare frequently on the Internet, whether they are using a computer at home or the scanned QR codes multiple timesoffice, or accessing the Web via a smartphone. According to Nielsen Co. (201 1),31% of all U.S. mobile users have smartphones. As a result, credit unions can reachmembers quickly, more frequently, and on a more personal level. eMarketer (201 1)indicates that smartphones are projected to be in the hands of 43% of mobile users Mobile phone users whoby late 2015. have smartphonesInstead of reaching credit union members merely with printed documents such asmonthly account statements, electronic statements and documents provide themember a direct link to online offers and content. Also, by adding PURLs and QRCodes to transactional documents, correspondence, and direct mail pieces, there isan opportunity to generate an electronic response from the printed piece. Incorpo- 69% 31%rating these response mechanisms into printed documents can increase the market-ing effectiveness of the mailing. Results of campaigns can be measured based onresponse data. ACCOUNT # STATEMENT PERIOD PAGE 111-1111 12/06/2010 Page 1 632 Ellsworth Rd. Percentage of all mobile phone Rome, NY 13441 800.698.0299 users who have smart phones. This is projected to increase to Sam, 43% by 2015 DFFFFAAATADTFFADAFFADDDTDAAFTFDTDDDDAAAATADAAAFTFDTTFDTDTTDAFAAAF MAKE A Sam Sample SPLASH! 123 Anywhere St. Anytown, NY 12345 New and Used Boat Loans from Trusted Credit Union. Sam, scan this code with your mobile phone to access your special offer or go to www.cathedralpurls.com/QRADVANTAGE FREE BASIC ACCOUNT 111-1111 LAST STATEMENT 11/05/10 96.71 2 CREDITS 3,500.00 2 DEBITS 693.56 THIS STATEMENT 12/06/10 2,903.15 _ _ _ _ _ _ _ _ OTHER CREDITS - - - - - - - - - DESCRIPTION DATE AMOUNT PAYROLL PayrollAccount# 11/10 1,750.00 PAYROLL PayrollAccount# 11/24 1,750.00 _ _ _ _ _ _ _ _ _ OTHER DEBITS - - - - - - - - - DESCRIPTION DATE AMOUNT
  5. 5. PURLs and QR Codes enable an opportunity togenerate new business by targeting messages tomembers with offers that are relevant to them. Theformatted designs can be highly customized with a MAKE Amember’s account information, therefore offeringbetter target messaging and segmentation of audi- SPLASH!ence members.This messaging from credit unions provides a clearresponse path for the credit union member tofollow easily. Members feel comfortable respond- New Boatsing because they already know and trust theircredit union. This new vehicle creates an electronicavenue to opt in, inquire, and apply for offers they 5.50% APR* FOR 24 MOS.have been selected to receive. New and Used Boat Loans from Trusted Credit UnionUtilizing electronic communications generates Used Boats 6.50% With a Boat Loan from Trusted Credit Union, it’ll be smooth sailingvalue in printed documents, shortens the sales ahead. We offer you comfortable terms and attractive rates on yourcycle for new product sales, allows for concurrent new or used purchase. Stop by your nearest Trusted Credit Union APR+ branch and apply, or call us for more information.campaigns, and increases the response to direct FOR 24 MOS.marketing efforts. You’ll set sail in no time with a Boat Loan from Trusted Credit Union.One of the major benefits of electronic com-munications (Web site and home-banking gener-ated inquiries) is that member click-throughs and Trusted Credit Unionactivity can be monitored and tracked. When amember scans a QR image on the document with a CLIENT SERVICES 800.698.0299 tcu.commobile device, the member’s response can also betracked and measured for success. These trackable * New Minimum loan is $5,000 and maximum is $75,000. Rates and down payments based on credit score and term selected. Payment example - $10,000 for 24 months @ 5.50% = $444.70 per month. Only 2010 and newer purchased from a dealership, never registered or titled. + Used 2004 to 2010. Minimum loan is $5,000 and maximum is $50,000. Rates based on credit score and term selected. 85% loan to value financing. Payment example - $7,500 for 24 months @ 6.50% = $337.88 per month. Additional rates and terms are available, ask a Branch Banking Representative for details. Rates include a 0.25% discount for automatic payments. Insurance required, premium amount not included in payment examples. Current Trusted Credit Union loans will not be refinanced at these rates. Subject to credit approvalresponses make it easy to measure and increasereturn-on-investment (ROI) for a credit union’sprinted communications. These tools are anotherway credit unions can yield more benefits and valuefrom their existing customer data.The Cathedral AdvantageCathedral Corporation encourages customers to use PURLs as a means of per-sonalizing electronic responses to targeted messages. QR Codes offer a similarelectronic response method integrating reader inquiry using mobile applications.Cathedral enables credit unions to provide easy access to offers that are tailoredto desired members. For credit union members, PURLs and QR Codes provideanother vehicle of response to offers that address their needs. For credit unions,these technologies add value by capturing in real time their members’ responsesto offers or customer communications.Cathedral has included PURLs successfully in customer campaign documents,and the use of QR Codes is the natural outgrowth of the use of a data-drivenresponse generation technology.
  6. 6. SourcesABI Research (December 2010). Mobile Commerce in the US to Reach $4.9 Billion This Year, Up From Just $363M in 2008. Mobile Marketing Watch. Retrieved from: http://www.mobilemarketing- watch.com/mobile-commerce-in-the-us-to-reach-4-9-billion-this-year-up-from-just-363m- in-2008-12086/.ATG (October 2010). Consumer Shopping Experiences, Preferences, and Behaviors. Retrieved from: http://www.atg.com/resource-library/white-papers/atg-online-shopping-study.pdf.eMarketer (January 2010). How Mainstream Are Mobile Apps? Retrieved from: http://www.emarketer. tv/Article.aspx?R=1008168dsNav=Rpp:25,Ro:0,N:1 141-861xsrc=TagCloudPanel.MGH Marketing (February 201 QR Code Usage and Interest Survey. Retrieved from: http://mghus. 1). com/assets/managed/QR%20code%20Stats%203%2021%201 1%20FINAL.pdf.Mobio Identity Systems, Inc. (February 201 The Naked Facts: QR Barcode Scanning in 2H-2010. 1). Mobio Identity Systems, Inc.Nielsen Company (December 2010). U.S. Smartphone Battle Heats Up. Retrieved from: http://blog. nielsen.com/nielsenwire/online_mobile/us-smartphone-battle-heats-up/.ScanLife (April 201 Mobile Barcode Trend Report Q2 201 Retrieved from: http://blog.scanlife.com/ 1). 1. wp-content/uploads/201 1/07/ScanLife-Trend-Report-Q2_201 1_Final.pdf. Learn more about how Cathedral Corporation adds PURLs and QR Codes to member communications. Contact Cathedral Corporation at: 800.698.0299 or e-mail us at sales@cathedralcorporation.com
  7. 7. Cathedral can translate your critical communications needs into Cathedral EssentialsTM— high-value document and communication services that can include checks, statements, e-statements, invoices, and personalized direct mail, as well as complete data management and maintenance services. With over 80 years of experience and an absolute guarantee for accuracy and timeliness, you can count on Cathedral to deliver EssentialTM communicationsCathedral Corporation solutions that are as innovative as they are effective in positioning you for a vital future.Griffiss Technology Park Contact us to learn more about how Cathedral can help you exceed your member expectations,632 Ellsworth Road receive application samples, or arrange for an online demo. We know that you live yourRome, NY 13441 commitment to your members. When you choose Cathedral, we live it, too.phone 800. 698. 0299www.cathedralcorporation.com