Originally posted on cuinsight.com.
Guest post written by Dan Green, Executive Vice President, Marketing, Mortgage Cadence, LLC
Mortgage Cadence, LLC is the NAFCU Services Preferred Partner for Mortgage Processing and Fulfillment Services.
In a recent blog post, I posed the “dreaded question”: Where do homebuyers come from? Quick review. They come from three places: non-owner/non-renters (NONRs), renters, and current homeowners. First-time homebuyers emerge from the first two categories while those interested in buying a different or another home come from the third. Pretty obvious, really, though the “dreaded question” is worth contemplating. We have been so focused on refinancing existing loans for the past several years, and now that it is coming to an end, it’s time to make way for those who should, for many reasons, be buying homes. The market has shifted its focus, and it’s time for us to shift our thinking.
They are not, however, buying homes—not first-timers or repeaters—though they should be. While the reasons the housing market has not yet rebounded since the end of the refinance boom are the same for both first-timers and repeaters, we’ll concentrate on the first-timers. Read more
Originally posted on cuinsight.com.
Guest post written by Sundeep Kapur, Digital Strategist, Allied Solutions. Sundeep will lead an integrated marketing workshop at NAFCU’s Strategic Growth Conference in Venice Beach, California in March 2014. Register here »
60 Minutes recently had a very engaging discussion with Jeff Bezos, the founder and CEO of Amazon.com. Amazon started off as a place to purchase books and continues to innovate and evolve into a powerhouse that serves so many (and so well).
How Amazon serves up ecommerce to their consumers and facilitates the cloud for businesses is absolutely amazing. Jeff spoke about innovative new products, same day delivery for markets (including groceries), and even using drones to deliver items to your front door.
While the press really got excited about the drones, Jeff also spoke about three key fundamentals which in my opinion are destined to make Amazon even greater. These fundamentals are what credit unions need to keep in mind as we seek innovative ways to leverage big data, serve omnipresent consumers, and respond to the challenges of real-time fulfillment.
Fundamental Number One: Stay Connected to Your Consumer Read more
Category: Management & Operations
Tags: Allied Solutions
, credit union
, Creditor Placed
, Guaranteed Auto Protection
, Jeff Bezos
, Mechanical Breakdown
, NAFCU Services
Originally posted on Vantiv’s Blog.
Guest post written by Lorena Harris, VP of Corporate Marketing, Vantiv. In the third part of this three-part series, Lorena discusses how providing a consistent customer experience across channels is a critical component of omnicommerce.
Lorena is presenting the “Mobile Payments and the Omniconsumer of the Future” featured session at NAFCU’s 2014 Technology and Security Conference, February 11–13. Save $150 with code HOLIDAY; expires January 10. Register today »
As merchants develop their omnicommerce capabilities, they will be interacting with customers in more ways across more channels. That means that they will have access to a much wider range of information about consumers to use in their marketing efforts. But with power comes responsibility…
Merchants today know how to run discount and promotion programs, but more data means more opportunity to enhance those programs. Such incentives are already an effective way to modify consumer behavior: In recent Vantiv/Mercator research, more than four out of ten respondents said that they would switch from their current preferred payment type to another type if it meant getting a discount on a purchase or a reward. Having more consumer data to work with will let merchants target those programs with increased precision. Read more
Originally posted on forwardbanker.com.
Guest post written by Scott P. Wallace, Vice President of Marketing, Deluxe Corporation.
The 2014 Deluxe Exchange Conference offers crucial advice on the most pressing topics in financial services. Use code NASC14 to register »
The level of consumers who use multiple financial institutions is quite high, and the level of customers considering switching institutions also rose last year. This could prompt some financial institutions to review their policies through important financial decisions in order to be sure that customers not only have what they need, but also that they will lead with their strong points.
Consumers are sending many messages to financial institutions.
Switching: Customers who considered switching financial institutions in 2012 rose to more than 10 percent, which is slightly higher than the seven percent recorded the previous year, according to a report from Ernst & Young. One reason for the switches is the continued fee changes by some financial institutions, which upset approximately half of the customers. Read more
Originally posted on SAS Voices.
Guest post written by Pamela Prentice, Chief Resource Officer, SAS Institute, Inc.
SAS is presenting at NAFCU’s Technology and Security Conference, Feb. 11–13 in Las Vegas. Learn more »
These days, we can interact with businesses anytime or anywhere. Technology gives you convenience and choice—on how and when to do business. We can do our banking, shopping, and travel planning through our computers and mobile devices when it suits us.
At the same time, technology provides businesses with more information about us. Through our purchase transactions, online visits, and other interactions, businesses capture data about who we are, what we like, how we shop, and how we behave. We leave a trail of information behind us. And businesses can use this information to target their products and services to us in many ways: online, through the mail, through our mobile devices, social media, and more. Read more