Most bank and credit union marketers understand the importance of onboarding new relationships. And the best way to promote go-with checking account products is to create and execute an onboarding communication plan. Onboarding is essential for increasing retention, expanding relationships, and becoming the primary financial institution of the account holder.

So, when someone opens a new checking account with you, how are they onboarded?

The key to customer and member retention and engagement is consistent communications. If you engage them, they will engage you. So, to get your new checking account relationship off on the right foot, we recommend sending a new account opening survey. This is a good way to gauge how your financial institution is doing during the account opening process and to see if there’s any improvements that can be made for the future. It’s also a good way to show your new relationships that you care about their satisfaction and their interactions with your financial institution.

Next, you want to be sure your new checking account relationships are aware of all of the benefits and features that come with their new checking account. This is when an account benefits and welcome letter should fit into your onboarding schedule. Make sure to mention any go-with products that may not have been activated at the time the account was opened. This can be things like direct deposit, online bill pay, eStatements, debit card activation, mobile and online banking, and mobile deposit. Depending on what your financial institution offers, this is a great way to get those benefits in front of new accounts.

Once you’ve gotten all of the introductory and relationship building communications underway, the next component of your a checking account onboarding communication plan should be to begin your cross-sell offers. Your initial cross-sells are another opportunity to continue to promote your checking account go-with products that have yet to be adopted by new account holders. Using a marketing automation platform like Core iQ allows you to set up a cross-sell priority matrix based where go-with product offers can be sent out automatically. An automated system, like Core iQ, can speak directly with your Core to determine whether each individual relationship currently has one of the listed go-with products. If so, it will automatically skip and go on to the next go-with product in the list that the relationship doesn’t already have, and push that promotion.

Continue sending your cross-sell promotions one to four times a month, or however your financial institution defines your promotional email cadence, until all checking account go-with products have been set up. Then you can begin moving on to different products, such as savings or loan products.

Expand your existing relationships and successfully cross-sell additional products and services by automating your onboarding schedule with a communication platform like Core iQ. For more information on how Core iQ can ease the burden of onboarding, sign up for a free demo, here.