Over the years, we’ve seen a dramatic shift in our bank and credit union marketing services from mailing to large customer and membership lists to focusing on smaller, highly targeted audiences. Methods are now so targeted, in fact, that we are 100% confident that recipients are getting a message about the exact product or service on their minds.
That means Suzy sees our client’s great auto loan rate the day after she looks at a new truck – thanks to the wonderfully efficient and effective world of triggers.
What is a trigger?
A trigger is an opportunity to contact a perfect prospect, as identified by that person’s actions – for example, completing a credit report related to an auto loan, mortgage, home equity loan, personal loan or credit card. Through daily monitoring of inquiries from multiple credit bureaus, we can track thousands of our clients’ current customers/members and prospects and identify exactly who is shopping for loans. We then reach out the very next day to those shoppers with a postcard or email blast about that specific loan on our clients’ behalf, or we can provide a list of “triggers” to banks and credit unions who want to reach out on their own.
This fast, results-driven strategy saves banks and credit unions from wasting valuable resources on finger-crossing and instead connects them with hot prospects on a daily basis. We can also combine trigger results with other key targets, such as creditworthy customers/members or those with preferred demographics (e.g., targets within a five-mile radius of the financial institution).
It’s a timely, personalized and extremely cost-effective approach. Here’s how being trigger-happy can make your financial institution happier:
Legitimizes personalized customer service – What better way to show that you are truly in tune with your customers’/members’ needs and interests than a loan offer matched to the loan shopper?
Creates top-of-mind awareness – By reaching customers/members with the right product at the right time, you’ve proven the relevancy of your bank or credit union. This helps position you as a go-to for future needs, too.
Boosts efficiency – No more guessing – you know your message is reaching the right person. Plus, you can take efficiency a step further and put all the monitoring and targeting in our hands, letting you focus on other tasks.
Increases response and revenue – Trigger-based marketing generates much higher email open rates and direct mail response, which leads to greater return on your investment.
As bank and credit union marketing becomes more focused on specific prospects, image.works is here to support those targeted efforts and help determine strategies that will deliver more bang for the buck.
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