A core conversion benefits both the financial institution and account holders. It increases security and allows the financial institution to offer more services. However, it will also impact some of those products and services, and you’ll need to inform your account...
Whether you are ready or not, the most wonderful time of the year will be here before you know it and now is the ideal time to start your holiday marketing planning. As a gift from our team to yours, we’ve put together some holiday marketing promotions and...
As summer winds down, it’s time to solidify your fall marketing plans. Brands often utilize warm colors when it comes to fall marketing and focus on time spent with family and friends in this pre-holiday season. Reminding account holders of the warmth that comes with...
Working closely with our customers, we have found that it is very challenging for financial institutions to overcommunicate with their relationships - especially if they’re taking the time to send timely, targeted offers and messages that help with building...
As the demand for more personalized experiences and targeted offers continues to rise in the financial industry, banks and credit unions must learn to rely heavily on their data to build nuanced insights to better serve their customers or members. Since financial...
It is well known that continuing to engage account holders is crucial to achieving ongoing goals for loans, deposits etc. It’s also no secret that is typically much easier and costs less to cross-sell existing account holders new products and services than it is to...
Banks and credit unions constantly face challenges to deliver on personalization, generate better cross-sell results, and demonstrate the value of every marketing campaign, all on a tight budget and with limited resources. Without embracing automation, this can be...
How to solve the problem of invalid or missing email addresses seems to be the million dollar question among financial institution marketers. What if you could solve all your email address woes with a simple annual direct mail postcard campaign? Many banks and credit...
Celebrating your birthday wasn’t even a thing until ancient Roman times. Then came the invention of birthday cake thousands of years later during the industrial revolution and the Happy Birthday song in 1893. So there hasn’t exactly been a lot of innovation around the...
Effective customer communications can be critical to your business operations as everyone in our country tries to navigate the future. Many of your customers may continue to face financial hardships as communities are recovering and resuming normal daily activities....
A $412 million dollar credit union generated $8.4 million dollars in new loans with a 4-touch targeted email campaign using Core iQ. Campaign success resulted from sending 58,325 emails to an audience segment of nearly 15,000 members. The Audience The credit union...
With financial literacy month coming up, it’s a good time to reevaluate your approach to your financial education efforts. If you don’t have a formal financial education program currently in place, you may be missing a huge opportunity when it comes to empowering and...
An engaged relationship is a loyal relationship. While that seems to be a simple concept, it can be challenging to perfect the art of customer or member engagement outside of the typical emphasis on products or services. We’ve found that creating an ongoing dialogue...
Customer and member retention is a critical part of every financial institution’s marketing strategy. In addition to promoting competitive offers, the best way to create loyal customers and keep them around is by fostering a great customer experience. Here are 5 ways...
With 150 million cell phone numbers discarded every year, 11.5% to 12.5% of Americans moving each year, and 7% of Americans making new email address every 6 months, it’s challenging to keep account holders’ information up-to-date. To make this task even harder, they...
A Collection of Best Practices for Communicating During Core Processing System Conversion. Learn When to Communicate Before a System Conversion Download our communication schedule & all 27 of our pre-built templates. Core Conversion Communications Resource...
Keeping account holders well informed during a core conversion is top priority. They need to know details about the conversion and how it will affect their account(s). Now, the question becomes, should you send letters, emails, or both? Letters vs. Emails Mailing a...
The core conversion date has been set. The impacted services and temporary business hours are written down. Now, it’s time to inform your account holders about the big change. There are two main categories of communication during a core conversion. These...
As a trusted community advisor, banks and credit unions are a valuable resource to raise awareness and encourage financial action through financial literacy programs. Not only will financial literacy programs help your account holders make wise financial decisions and...
Personal phone calls should still be a staple of any successful bank or credit union’s marketing strategy. Not only do they add a personal touch and help to boost confidence in your institution, they are also a great and cost-effective way to promote your...
Figuring out the best time to offer your IRA savings accounts and who to send your offers to can help you maximize deposit growth. Fully understanding your account holders behavior is essential to meeting your annual deposit growth goals. Here are 3 things to consider...
Kids savings accounts, while not always large in deposit amounts, are valuable and profitable products for bank and credit unions to offer. Not only are they an opportunity to educate young consumers on the basic fundamentals of good financial habits, but they also...
A lot of our customers today are saying they have no idea why attrition is happening among their customers and members, and aren’t quite sure how to stop the process. Most banks and credit unions focus a substantial amount of their efforts on expanding relationships...
How do you measure customer experience at your financial institution? Are you communicating regularly with your existing relationships? When and how often? Sending surveys isn’t a new practice for banks and credit unions. Regularly surveying your customers and members...
Studies have shown that building comprehensive onboarding programs is the best way to develop fully-engaged and profitable customers or members. However, all financial institutions will inevitably run into some issues of inactive, pre-dormant, or dormant account...
Investing in customer or member satisfaction is an important part of any retention and loyalty program. It’s important to spend time building positive relationships with your customers or members, and National Ag Day is a great excuse to focus on your agriculture loan...
Objective: In this article we will be talking about how you can figure out which products are seeing the highest rate of growth or churn over a period of time. We will explore the following topics: What fields you need to be sure are coming into Core iQ before...
We’ve previously discussed how email marketing is the most common form of communication for banks and credit unions to their customers and members. And while financial institution marketers strive to keep their email lists up to date, there is still a lot of room to...
The purpose of email marketing is to support your customers and members throughout the entirety of their relationship with your financial institution. It’s a great tool for your general onboarding, product-specific onboarding, cross sell and up sell opportunities, and...
Communicating with your account holders on holidays is a great way to stay top of mind and strengthen the relationship. Federal holidays, specifically, are an important communication opportunity. You should always let your account holders know of any branch closings...
The 4th of July is a Federal Holiday celebrating the birth of America’s independence. Spirits are high at this time, it’s mid-summer, and everyone is ready to set off some fireworks and kick back and relax enjoying the freedom this country has achieved! Since it is a...
April is upon us, and you know what that means... it’s Financial Literacy month! This nationwide initiative is a great opportunity to connect with your account holders and build relationships. One way to capitalize on this topic is by sharing helpful financial...
It’s almost that time of year again … time for students to gear up to head back to school! While a new school year can be an exciting time for both students and parents, it can also be a stressful and expensive season. According to a survey by Communities in...
Email continues to be the leading digital communication platform among banks and credit unions, which means the need for valid email addresses from your customers and members is greater than ever. With all that’s going on, it can be easy to forget why maintaining good...
Planning season is always here, it seems. How is your financial institution assessing accountholder needs to build a marketing strategy that converts? One way to identify what people think is important is to ask them. A financial needs assessment survey is a great way...
Every time a holiday rolls around, banks and credit unions across the country take to Facebook and Twitter to send out festive greetings. We think that’s a great practice and definitely recommend it, but one question remains…How many of your customers or members are...
When you look online, you’d think that the only thing a survey is good for is to measure customer satisfaction. That couldn’t be further from the truth and we wanted to prove it. So we’ve rolled up all of our knowledge on bank and credit union surveys into a number of...
We’ve seen a lot of great resources online that discuss all aspects of surveys, in general. However, it's a lot harder to find anything that covers the unique needs that banks and credit unions face when it comes to building and conducting surveys. So, we decided to...
The last Monday in May is dedicated to those who gave their lives to protect our country and our freedom. With honor and gratitude we remember those who fought bravely this coming Memorial Day.Memorial Day is a federal holiday, meaning that financial institutions,...
Each year, on the third Monday of February, the United States dedicates a day to celebrate the many great leaders this country has seen over the years. As Presidents' Day approaches this year, we couldn’t help feeling a little patriotic over here at Onovative. So, we...
U.S. branch closings are increasing in record numbers according to 2013 research performed by SNL Financial. This means that the number of communications banks are having to send out are increasing as well, costing them time and money.The FDIC manages policies that...
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...
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...
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,...
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...
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....
As more and more consumers are turning towards digital means for banking, banks and credit unions need to develop strategies and find creative ways to drive traffic to their branches. Holidays like Valentine’s Day are great opportunities for customer appreciation...
Customer satisfaction has always been an important aspect of business in every industry. In the financial industry in particular, it has become even more invaluable as customers face fewer and fewer switching barriers. Primary Financial Services Providers (PFSP) have...
