Archive for Maria

Utilizing Multi-channel Communications

Guest post written by Maria Del Amo-Lombardo, Director, New Market Development at Cathedral Corporation

Nowadays with electronic and print communications, you can receive information in many ways via many devices, software interfaces, and networks – even paper still works. Which do you prefer? Mobile? Text? Email? Direct mail? Social Media? If you are like me, it depends. I personally like to receive emails from people I trust but communicate via text. However, when it comes to doing a little consumer research, I don’t mind reading or searching the web. Do you think your members are any different than you in having preferred channels?

Data from Exact Target’s 2012 The Digital Republic (Report #18), illustrates this point perfectly, showing that 80% of online consumers check email at least once per day [1]. But the same report found that 61% of Twitter users check their feed once a day and that 25% of online consumers aged 18-24 and 25-34 have made a purchase from receiving a Facebook message [1].

So how do you ensure that your messages and your member communications are effective? Easy answer – don’t just focus on any one channel; use as many channels as you can. Multi-channel communication increases the odds that your message gets read one way or another. The multi-channel approach may sound daunting to some; but it really doesn’t have to be. By using proper planning, communication goals, and response tracking, you can ensure relevant and timely communication, proper utilization of multiple communications vehicles, and accurate measurement of your efforts.

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Who’s your most profitable member? It may not be who you think it is.

Guest post written by Maria Del Amo-Lombardo, Director, New Market Development at Cathedral Corporation

This is a thought-provoking question and one that we pose to our customers all the time. There are several ways to measure your most profitable members. One of the most obvious ways is to look at overdraft or NSF fees on a monthly basis and see which members get hit the hardest by them. Sure, you are getting income from this, but what do these members really look like? Do they hold a small share account or have a single product with you? Is this the member segment that has had no interest in other products or services but generates a significant number of calls to your call center? Looking at all of these factors may lead you to wonder how profitable of a member segment this really is.

Another way to measure profitability is to consider the entire account relationship. What about members with larger share accounts, checking accounts, and loans? These members have shown the potential to use a variety of your products. Will you consider them profitable members?

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