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Credit Union Cashes in
with Multi-Piece Strategy
Client
Credit union headquartered in the Northwest, serving more than 3,000 members in two states.
Situation
• The credit union’s marketing communications included statement stuffers, lobby posters and quarterly newsletters.
• They wanted a more focused effort to gain new members and also encourage current customers to use more of its services and products.
Marketing Recommendations
Direct Mail Promotion - To attract new customers, use an integrated effort involving direct mail with:
• Follow-up postcards
• Ask-A-Friend referral program
Collateral/Sales Material - A multi-faceted approach comprised of statement stuffers, a newsletter and targeted email to increase the use of the credit union’s services and products among current members.
Results
Metrics used to evaluate effectiveness, improve performance and measure ROI include:
• Average number of services/products used per member
• Physically track phone calls, emails
• Click-thru rate
• Response rate to personalized URL - both pre and post follow-up mailing
• Response rate to response card
• Number of new accounts opened per month
• Number of meetings scheduled
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