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Growing Member Relationships: What are the problems CUs are facing today?
Not too long ago a member had to walk into a branch to join, add a new service they needed or get a loan for a dream that they had. The face-to-face contact made our jobs easier to up-sell additional products or tell them what was new at the credit union.
Not any more.....
Growing Member Relationships:What’s the first problem CUs are facing today?
Members can now
• Join the CU remotely;• Apply for loans online;• Get loans from mortgage and student loan CUSOs; • Make remote deposits from faxes and scanners;• Make deposits/withdrawals from free ATMs; and• Hit a shared-branch in just about every major city
Face-to-face contacts are disappearing every day!
How do you ask....
What is the Automatic Relationship Builder (ARB)?
DMI’s next generation email engine that helps deepen customer relationships online. The ARB targets members with customized email messages based on “in market” actions, needs or qualifications from email, web pages or MCIF systems. It’s benefits:
• Replaces traditional direct marketing production and postage costs with targeted email
• Consistent, managed contact that grows your business at every level of the virtual channel
• Variable image and text replacement in each email based on demographics
• Ability to track click-throughs to identify members and areas of interest to launch targeted, timely follow-ups.
Growing Member Relationships:Worried about using email?
Recent data from an Internet Strategy Consortium survey of more than 15,000 online credit union members reveals that members want to receive informational and promotion email from their credit union.
Source: Callahan & Associates May 2008
0 10 20 30 40 50
Through Bank'sWeb Site
At the Branch
Receive Phone Call
Receive Direct Mail
Receive E-Mail
% Answered
How would you like your bank (or credit union) to communicate with you following the opening of your account?
Source: Javelin Strategy and Research
N = 2,230
NWFCU’s ARB engine Automatically GrowsPre-approved Mortgage Loans
• Day #1 Welcome email to member• Day #7 Congratulations on pre-approval• Day #14 Mortgage loan Rebate program• Day #56 Still Housing Hunting?• Day #84 Pre-approval about to expire• Day #112 Expiration notice
Pre-approved Mortgage campaign stays in touch with members via email on selected days in the process
Day # 1 – Thanks for Attending Day # 14 – Pre-approved Loan Cross-sell
Day # 28 – CU Realty Rebate Program Cross-sell
Automatically Growing a Relationship after a Seminar
Day # 7 Congratulations! You now own a CU
Automatically Growing a Member Relationship
Day # 21 Did we leave anything out?
Automatically Growing a Member Relationship
Day # 35 To Your Credit
Automatically Growing a Member Relationship
Day # 49 You DO have a name!
Automatically Growing a Member Relationship
Day # 63 Your CU has more than just loans
Automatically Growing a Member Relationship
Day # 77 Checks and Balances
Automatically Growing a Member Relationship
Day # 91 Our newest branch is in your hands!
Automatically Growing a Member Relationship
Day # 105 The Web is your friend
Automatically Growing a Member Relationship
eMarketing - Hunting for LoansCampaign snagged $1.4 Million in 5 days!
Hunting Loans via e-Mail & Tracking ROI
What is the Return On Investment?
• 32,419 emails sent
• 7,857 opened
• 5,984 “unique” opens
• 1,457 clicks on 4 links in email
• 50 Loans in 4 days directly tied to emailed offer
• 34 loans indirectly tied to email
• $1.4m in new loans from email227 loan applications processed from 3/27 @ 3 pm to 3/31 @ 11 am
• Leading digital communication provider to CU industry since 2000 • Safe-listed on 4.3 million servers worldwide
• CUSO with over 145 CU clients from $35M to $1.6B with 3.5 million members
• Over 10 million eStatements notifications delivered
• Email messaging system since 2002
• Over 10.0 million emails delivered since 2002
Go to www.digitalmailer.com/arb.html for a FREE test Drive of the ARB for your Credit Union!
Ron DalyPresident/[email protected]
