Tag Archive for communications

| March 28, 2013
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Individually Focused IRA Marketing

individually-focused-ira-marketing

Originally posted on CUInsight.com

Guest post written by Dennis Zuehlke, Compliance Manager, Ascensus

The April 15 tax filing and IRA contribution deadline is only one month away. Much of the marketing focus this year is on the higher IRA contribution limits. For 2013, the IRA contribution limit is $5,500, up from the previous $5,000 limit.

This is good news for baby boomers socking away money for retirement, but for young millennials just starting out, making a $5,500 IRA contribution may be out of reach, and such a marketing campaign may appear out of touch. Targeting the right message to the right audience is key. Remember, the “I” in IRA stands for individual. IRA marketing efforts focused on the individual—based on their generational demographic—will benefit both your members and your credit union.

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Category: Growth & Retention, Management & Operations, Marketing | Tags: , , , ,
| March 26, 2013
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Examine Your Mobile Strategy for 2013

Originally posted on CUInsight.com

Guest post written by David Hilger, SVP Information Technology, Allied Solutions

Articles about mobile banking are popping up everywhere – from the Wall Street Journal to American Banker, in local papers, and on technology and finance blogs. Think more broadly – don’t ask yourself whether or not you have mobile banking. Consider where you’d like your mobile strategy to take you.

What are your members asking for?

There are, perhaps, many things you are hoping to offer your members: mobile banking that allows them to check their balance or transfer funds; remote deposit capture; ATM or branch locations or mapping; straightforward “contact us” options or maybe a more robust self service capability. People appreciate these tools, and are increasingly likely to expect such offerings from their bank or credit union and often consider these when selecting their financial institution.

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Category: Management & Operations, Marketing | Tags: , , , , ,
| March 19, 2013
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Shifting Social Media from “If” to “How”

Guest post written by Steve Richman, sales trainer and national spokesperson for Genworth Mortgage Insurance.

Social media has been embraced by consumers — your members and potential members. Your employees are engaged in social media activities, whether they are active on Facebook, LinkedIn, Pinterest, Twitter, and other sites or active bloggers themselves. In fact, social media has become more mainstream, with growing participation in all age groups and income levels. The question for credit unions has changed from “Should we or shouldn’t we?” to “How do we?” Here are three steps to consider, whether you’re already using social media or are just getting started.

1. Identify a Senior Leader Champion.

The first step in making social media work for your credit union is to have a senior leader to champion the idea. This initiative is not going to bubble up from within the organization — it needs a champion from high atop the hierarchy. That champion needs to create a team to institute a social media initiative. The team should include an attorney. If the attorney is involved in the creation process, with a directive from senior management to make it work, you can pave  the way to easier implementation.

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Category: Marketing | Tags: , , , , , ,
| March 5, 2013
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Monetizing ATMs with Targeted Marketing

Originally posted on NCR Corporation’s blog

Guest post by Gaby Abi Aad, NCR United Arab Emirates

Many people have different definitions for ATM marketing, so let me first start by defining what ATM targeted marketing is not: it is not about running a video on the idle screen of an ATM, nor is it the passive advert screen you would see while waiting for your cash to be dispensed.

I am talking about targeted interactive marketing. This means targeting a specific marketing message to a segment of ATM users, and allowing for interaction with the message, thus generating leads for your products.

As an example, you create a list of customers who are pre-approved for a free- or-life credit card, and once any of these targeted customers transact on your ATM, a message with an offer is shown to them and they are prompted to either accept or reject the offer. If they accept the offer, you would ask them to leave their contact details, and therefore, a lead is generated. Imagine the potential you could tap into on a large and geographically spread ATM network with high transaction volumes.

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Category: Growth & Retention | Tags: , ,
| February 26, 2013
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A Once in a Lifetime Opportunity

a-once-in-a-lifetime-opportunity

Originally posted on CUInsight.com

Guest post written by Dan Green, EVP, Marketing, Mortgage Cadence

Prime Alliance, a Mortgage Cadence company, is the NAFCU Services Preferred Partner for Credit Union Mortgage Solutions.

The housing market is in recovery; most economists and many of us involved in the industry agree. Low rates are, perhaps, the biggest contributing factor. And they are low. Lowest in history? Pretty close. While doing some research recently, we came across the 140-year history of the 10 year treasury rate. Looks like rates were this low just once during this period, in 1940. Based on the data, it’s safe to say rates really are the lowest in history.

But you knew that. What you might not have known is we – lenders – are having a hard time getting a certain group of homeowners to avail themselves of this once in a lifetime opportunity. Who are they? Why won’t they refinance? Great questions.

First, who they are. According to an article last week on Fortune’s Term Sheet blog, this subset of homeowners dwell in the larger set known as those underwater: those who owe more on their homes than their homes are worth. Plenty has been written about them. Even more has been done to help them. The Home Affordable Refinance Program, HARP, was created in 2009 and revamped in 2011 to save them hundreds of dollars per month, thousands per year. Yet, according to last week’s article, only about 25% of HARP-eligible borrowers end up refinancing.

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Category: Growth & Retention | Tags: , , , , ,
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