April 2004

Spring is finally here, and with it another successful Marketing & Business Development Conference has concluded. If you weren’t able to join us in Miami, you can get a feel for the excitement that was had by viewing a streaming video [link to http://www.cunamarketingcouncil.org/conference_04.html] of the events. And, peruse the winners of the 2004 Diamond Awards.

Report from the Chair. Catch up on the state of the council with Renee Dickson, CMBDC Chair in her first ever report.

Special Feature: E-Mail Newsletters and Campaigns. In a two-part special feature of The Cutting Edge, we’ll provide tips on “How to Promote Your Services and Engage Members—Part 1”

 

Email Newsletters and Campaigns:
How to Promote Your Services and Engage Members, Part One.

Do you keep in touch with your members regularly? What about your prospective members? Are you building and using an e-mail list to remind them of your credit union’s membership benefits and financial services?

Many credit unions are using opt-in permission based e-mail newsletters and campaigns because they are effective and inexpensive communication tools. You can use them to publicize your credit union’s news, employment opportunities, consumer and mortgage loan rates, and special promotions. Opt-in e-mail allows you to maintain constant contact with your members without being annoying. Members ask you to send them information when they subscribe.

In addition, you will save money on printing and postage by using e-mail. Or, use electronic communications in conjunction with your traditional communications to get the maximum return. With e-mail marketing, you can easily target your efforts and track the results instantly--something you can't do with traditional direct mail.

How Credit Unions are Using E-mail

The U. S. Postal Service Federal Credit Union began using e-mail marketing in the fall of 2002. According to Tracey Wells Daly, USPSFCU Marketing Manager, “The credit union felt that it needed another channel to reinforce existing marketing channels such as direct mail and POS.” Members subscribe (opt-in) to receive information based on product type, general information, and events.

Tracey said, “E-mail has absolutely been an effective outreach tool. We are able to reach a geographically diverse group of members in a more personal way. It has enhanced member response to our seminars and provides an effective channel for financial education.” Responses to their seminar invitations are instantaneous and have doubled. In addition, the number of loan applications has increased.

She shares the following advice for anyone new to e-mail marketing:

· E-mail is an excellent channel to reinforce efforts already in place.
· Outsourcing your list management is highly recommended.
· When considering your message, it is important to stay true to your brand.
· Remember that e-mail communication is different from printed communications. Familiarize yourself with some basic e-mail marketing etiquette before starting. (She read Permission Marketing by Seth Godin.)

The Three Rivers Federal Credit in Fort Wayne, IN started using e-mail newsletters and campaigns in late 2001. Carolyn Spake-Leeper, Vice President of Business Development and Marketing said, “E-mail allows us to communicate with our members exponentially quicker than most conventional methods. We are able to generate an immediate response and measure it through the life of that particular campaign. Therefore, we can determine what works, what does not, and use that information to make the next campaign better. What’s more, many of our members prefer electronic channels versus traditional methods.”

We will include Part 2 of this article in the next issue of The Cutting Edge. Read it to learn how to create an e-mail newsletter and 12 tips that will help make your electronic campaigns more successful.

Copyright 2004 by Raj Khera, MailerMailer LLC. All rights reserved.

Raj Khera is with MailerMailer of Rockville Maryland and can be reached at
MailerMailer
Suite 350
5 Choke Cherry Road
Rockville, MD 20850
301-869-4449
1-800-475-1415
www.mailermailer.com

Greetings Fellow Marketing and Business Development Professionals!

As my first official act as Chair of the CUNA Marketing and Business Development Council, I would like to duly thank the all the people; Council members, Executive Committee members; and CUNA staff that made possible our fantastic conference in Miami Beach last month. While the participation and hard work exhibited by all of these people was exemplary, let’s not forget that we could not have such a wonderful learning experience if it weren’t for our Partners – the sponsors of the event that give both time and money toward our continued success. Many thanks to you all!

Our time in Miami gave us many things to think about as we forge ahead in our work for 2004. Perhaps you went home with a sharper interest in business lending, creating better teams, changing your ambassador program, printing sharper mail campaigns or how to tell a great story. Whatever you took from the conference, it is my hope that each of the participants went home with a renewed spirit and a desire to achieve bigger and better things in your own credit union that will lead to a stronger credit union movement.

Interesting Statistics Regarding the 2004 Conference and Council:

There are still many opportunities to participate in sub-committees. We are forming these committees now and will be contacting those of you that signed up for sub-committees at the conference within the next few weeks. If you did not get a chance to sign up or have always wanted to play a larger part in the Council and not known how, this is your chance. I promised to give everyone an opportunity that wanted to work with committees and I pledge to you that I will keep that promise. Please send your information to dbergenske@cuna.coop or rdickson@nwafcu.org and let us know what committee you have an interest in serving on. You will then be contacted by the chair of that sub-committee regarding ways you may assist your Council.

Please take the time to read this month’s article "How to Promote Your Services and Engage Members" in The Cutting Edge newsletter. This informative article on E-Mail Newsletters and Campaigns will give you much to consider.

I truly look forward to working with all of you during this year. I hope that you will work with me too – by giving me your feedback, your opinions on making this Council a vital part of your workday, and your suggestions on how this Council can meet your educational needs through the website, our involvement with the CUNA schools and the annual conference.

My best to you all,

Renee L. Dickson
Chair

CUNA Marketing and Business Development website

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