5 Ways to Achieve Growth Through

Enhanced Member Communications

Steve Miller Director of Financial Services

Communications

November 9, 2011

Cathedral Corporation

• Provides strategic solutions for enhanced Member Communications

• Serving credit unions since 1990s

• Core competency: Data management

• Printed and electronic document solutions

• Innovations to help credit unions meet their objectives

Agenda

• Challenges and Implications

• 5 Member Communications Enhancements • Use Your Data

• Statement Redesign

• Digital Inserts

• Integrated Direct Marketing

• Integrated Electronic Communications

• Conclusion

• Q&A

Challenges Today

• How to grow: loans, deposits,

members

• Member loyalty, attrition

• Share of pocketbook

• Execute & measure effective

marketing communications

• Compete in open market

• Resources, resources, resources

Implications

• Objectives not met

• Missed opportunities

• Lack of growth

• Loss of market share

• Sustainability of the

credit union

Polling Question

• What are some of the marketing

communication strategies that you are

currently using? • Targeted messaging

• Electronic response tools

• Direct mail

• Social media

• Mobile communications

Use Your Data • Situation

• CUs have resources to add value to member

communications: Data from core, CRM, or 3rd

party

• Recommendations

• Use data to target members for relevant offers

• Include multiple offers in single cycle

• Target in Transpromo, e-Docs, and Direct mail

• Benefits

• Use the knowledge in the data to build response

• Increase % of response vs generic offers

• Take advantage of data investment, improve ROI

Statement Redesign

• Situation

• Most not been reviewed

• Designs from core system

• Difficult to read, understand

• Little communications value

• Missed Opportunity

Statement Redesign

• Recommendations • Layout using white space

• Improving the use of fonts

• Adding account summaries

• Adding personalization

• Use of full color

• Including graphics with marketing

content

• Benefits • Adding value to a document that is

budgeted/sent to members

Polling Question

• Have you considered redesigning your statements?

• Yes

• No

• Wasn’t aware of it as an option

Digital Inserts

• Situation • Graphic messaging not

available

• or, not taken advantage of

• Opportunity to add product

offer to transaction documents

• Make offer to reader in

document they expect and

open

Digital Inserts

• Recommendations • Personalization- 40%

• Use full color- 140%

• Targeted offers

• No 2nd oz. postage increase

• Benefits • Adding targeted marketing

content relevant to the

member

• Another touch point for the

member to act

Personalized offer driven by

your data relevant to

your members

Polling Question

• Have you considered adding graphic marketing content

to print or electronic statements for your members?

• Yes

• No

• If yes, has it met your objectives?

• Yes

• No

Integrated Direct Marketing

• Situation

• Transaction documents

not part of marketing

communications

• Targeting not supported

• How to communicate

with GenY?

• Case Study

Transactional Documents

Direct Marketing

Electronic Communications

Social Media

QR/PURLS

PODi Case Study

Resource One CU

Objective • Address the needs of younger

members

• Enhance the relationship with

them

• Upgrade membership to

MyLifeMyMoney (MLMM)

PODi Case Study

Solution • Direct mail campaign using

PURLs as response vehicle

• Target: 18-30 age group

• Personalized informal letter

with PURL to upgrade account

to MLMM

• PURL landing page- a short

survey about their financial

needs

• Offer: Chance to win iPhone,

$25 referral incentive

PODi Case Study

Results:

• 325 PURL visits

• 85 completed survey

• 273% increase in

MLMM account

holders

4.8% Response

Rate

26% Conversion

Rate

273% increase in accounts upgrades

Integrated Direct Mail

• Recommendations

• Quick Response (QR) codes

• Personalized web sites (PURLs)

• Benefits

• Trackable and measurable

• Integrated to support the CU

marketing plan

Integrated Electronic Marketing

• Situation

• E-Documents stand alone

• Out of marketing channels

• Recommendations

• Integrate users in marketing campaigns

• Target them for offers

• Benefits

• Communicate with some of most

valuable members

• Electronic responses measurable

• Reach the widest member audience

Conclusion • Use internal resources available

to you:

• Data

• Statements, e-Docs

• Direct marketing channels

• Create opportunities

• Reach a wider audience

• Promote your products

• Work your plan to Grow

Q & A and Contact Information

Steve Miller

smiller@cathedralcorporation.com

(800) 698-0299

www.nafcu.org/cathedral