BANK AND CREDIT UNION MARKETING

Message From the President

Message From the President

Welcome to 2020! The image.works team and I look with excitement and optimism toward a new year of doing marketing differently. Let’s take a closer look at what that entails.

Marketing Platforms: This year, we’re focusing on our marketing platforms: Marketing Automation and onboarding. Marketing Automation allows new accountholders to be onboarded with a custom journey. Accountholders can request additional information and learn about other products and services you offer through timely, automated, behavior-based emails. And all this is not just for new accountholders – we can help automate a strategy for your current accountholders too. 

Our Marketing Automation platform transforms consumers into trackable leads by monitoring their visits to your website and then targeting leads with automated drip email campaigns. This guarantees the accountholder is receiving relevant and worthwhile communication. This platform is especially powerful when integrated with onboarding, which uses direct mail to reach out to your new accountholders and features a particular product or service, building loyalty and reducing attrition. These platforms are inexpensive, and they work – as seen in our case studies:

Direct Mail: Direct mail is back! Take Capital One for example. They’re one of the top credit card companies, and they continue to be the top mailer among financial institutions (medialogic.com). I see people spending too much time on digital marketing alone and putting direct mail on the back burner, but that’s a mistake. Not everyone will see your email, thanks to spam filters, and many of those who do see it will hit delete without reading it; that’s easy to do. In contrast, recipients have to hold direct mail in their hands and at least read part of it to decide whether to keep it. 

An especially important time to rely on direct mail is during a core conversion because it’s imperative that the message get to everyone affected. We provide the marketing for a lot of core conversions, and direct mail is the best – and most popular – way to ensure effective communication. Sending direct mail is worth the cost because the results are remarkable! You can read more about the importance of direct mail in our blogs:

Targeted Marketing: The key to effective marketing is using a targeted approach. In the past, there was a shotgun approach: An ad was thrown out to a wide range of recipients, and the message might not apply to all of them, which meant the sender was paying to send mail to some people for whom it was irrelevant. Now, we take a rifle approach, so ads are sent to only recipients who have shown interest in the product or service or qualify based on predetermined parameters, such as credit score, age, income, location, etc.

Our SmartTrack program is a highly successful way of targeting the right audience at the right time. We track inquiries from all three credit bureaus and deliver lists of your creditworthy accountholders and prospects who are actively seeking out loans. Within 24 hours, a creative postcard and email are sent automatically to promote the relevant products – and prevent lost loan income. Notice the use of both a postcard and an email; this one-two punch combines the influence of direct mail with digital ads in a powerful cross-media marketing campaign. Targeted marketing works, and we have clients with real results to prove it:

Looking Back: There were a number of exciting advancements here in 2019. We brought in 150 new clients, saw an uptick in platforms like Marketing Automation and onboarding, and experienced an increase in data purchases through the three credit bureaus for loan generation campaigns. We also celebrated the first anniversary of our move to an attractive new office building, which I’m really proud of.

I’m thrilled with our staff; they’re dedicated, smart and hard-working. We excel at attracting new talent because we offer a friendly, casual atmosphere where creative ideas rise to the top and results are more important than titles. We pride ourselves on taking care of our clients, and we also take care of our employees – with excellent health benefits, competitive compensation, generous paid time off, a retirement plan, a modern office that includes a fitness center, and other perks.

We’ve been creating compelling campaigns that deliver results for more than 20 years. Just tell us what you want to promote, and we’ll tell you what others are doing that works. There’s more amazing marketing to come. Happy new year from image.works!

Sources: 

  1. https://www.medialogic.com/blog/financial-services-marketing/whats-in-an-oe-capital-one-looks-to-find-out/
  2. https://www.imageworksdirect.com/
Posted by Mark Whalen - January 15, 2020