Sending Welcome Letters to new customers or members is a common practice among Financial Institutions. Whether it’s the starting point of a strategized onboarding campaign, or a solo communication, reconnecting with new customers early on can influence the entirety of...
In 2012, counterfeit charges cost financial institutions $3.4 billion and merchants $1.9 billion.1 In an effort to reduce fraud, banks and credit unions have started issuing EMV cards. If this term is new, EMV stands for Europay, Mastercard, and Visa, and it’s also...
Do you feel like it’s getting harder and harder to get customers or members to stop by your branch? The fact is, people are just too busy and stopping by a branch is inconvenient. However, there is one object many people carry with them at all times; and that’s their...
Small banks and credit unions have small teams, and in an American Banker article entitled, One-Person Bank Marketing Teams Are Destined to Fail, Kevin Tynan asked the following question: "How can one staffer be held responsible for all marketing and social media...
As a marketer, time is our most precious resource and we're always looking for an edge. We typically need to know where best to deploy budget to bring the right eyeballs into our online offers. Google Analytics is an extremely robust tool, but sometimes it can...
How Are You Cross-Selling on Facebook? If you’ve been marketing on Facebook, then you’ve definitely been feeling the squeeze as fewer and fewer fans see your organic posts. We’re all being pushed to pay Facebook to advertise, but it’s not such a bad thing once you...
CU Management's June 2015 issue features recommendations on how credit unions should manage the new member onboarding process. It is one of the most in-depth pieces of coverage on the topic of onboarding that focuses on credit unions. Download a PDF Copy of the Article:
These three consultants brought the heat last week, which compelled us to feature them here in Last Week in Bank Marketing. If you only have time to read three bank marketing related articles today, then we highly recommend the following three posts. Amanda McMeans,...
Last week in bank marketing, Joe Day talked about the importance of a digital strategy in Credit Union Magazine. The take-away for bank and credit union marketers was that consumer expectations are being shaped by what are becoming everyday digital experiences. A...
Last week in Bank Marketing reminded us of a lot of things. First is that, all things being equal, most Americans would prefer to use a community-based financial institution over a large 'megabank'. However, wanting to use a community bank or credit union and...
Last week AdAge came out with an article on JPMorgan Chase and Company’s campaign to show consumers how easy their lives can be when they bank digitally. In the article, CMO for Chase Consumer Banking, Ms. Donna Vieira, referred to digital banking as “the way our...
When you think about bringing new people into your community bank or credit union, as well as cross selling existing customers and members, it’s very important to look at profitability. Serge Milman breaks this point down in one of last week’s best bank marketing...
There were a lot of great bank marketing posts being shared on Twitter last week. We’ve rounded up our favorites and put them together in this post. What does it take to get our attention? We generally care about stories related to any aspect of bank marketing,...
In our last article, we took a look at a few important factors small-businesses consider when choosing a bank partner. Speaking well to the initial concerns of the business can get you a new customer, and help boost customer loyalty. But, in order to protect and grow...
When it comes to advertising and marketing, banking institutions have no shortage of rules and regulations governing what they do. Aside from the Federal Trade Commission’s (FTC) exhaustive list of guidelines that apply to all businesses, banks must consider numerous...
We asked 500 consumers if they would use the US Post Office for banking related services if they offered them. The results were not surprising. Over 75% said they wouldn’t. In fact, when we looked at income levels of the respondents we found that the lower the income...
There is no question that first impressions are important. However, you might be surprised at just how important the first 90 days are to a new bank or credit union customer. Banks and credit unions can and must use effective “onboarding” to decrease customer...
Should banks and credit unions be charging fees for use of mobile banking? Many institutions are considering their options to bring in more revenue from their service offerings. Mobile banking has been discussed as a possible option to increase revenue. In our latest...
In our most recent survey of bank and credit union customers, we wanted to gauge the current comfort level of debit card use, in light of the recent large-scale breach of consumer information at Target locations across the country. The survey was conducted...
In our most recent survey of bank and credit union customers, we were interested in learning how many still routinely carry a personal checkbook. With increased use of credit cards, debit cards, and electronic bill-pay, many have proclaimed the death of the written...
According to our most recent survey of bank and credit union customers, those respondents who have remained with their bank or credit union longer than 5 years cited Convenient Locations (43%) over Electronic Baking Options (29%) as the #1 reason for retention....
According to our most recent survey of more than 1000 customers of banks and credit unions, customers earning more than $75,000 per year are significantly less satisfied with the quality of the mobile banking app provided by their financial institution than those...
According to our most recent survey of more than 1,400 customers of banks and credit unions, only 15% of customers use their bank’s SmartPhone app to access their account. Customers between the age of 25 and 34 were most likely to use their bank’s mobile app with a...
According to our most recent survey of more than 1000 customers of banks and credit unions, the youngest customers are the group least happy with the quality of online banking systems. Customers between the age of 18 and 24 were most likely to give their bank or...