Incentive Programs

Offering members products and services that will benefit them is what all of our employees should be doing on a daily basis.  Unfortunately, the banking industry tends to staff order takers instead of sales people.  One way to get your team to start noticing sales opportunities is to pay them for it.  There seems to be mixed feelings on this issue.  Some agree it’s a great motivator and others feel cross selling is part of the job description.  Take a moment and step into their …Read More

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Stretching your marketing budget:

A few quick tips on ways to measure and stretch your marketing budget.Read More

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Onboarding basics:

When people think about onboarding it’s usually associated with new members.  Relationship building strategies should be used for all members’ not just new ones.  Your membership is a captive audience that already trusts you; however, more than likely, they also have accounts elsewhere too.  If you are not reaching out to your members and establishing stronger relationships, you could lose members and potential long term income. To properly execute an onboarding program research and preparation is required.  Decide what forms of communication you are going …Read More

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Promoting Credit Unions

Anyone who has been a customer of a bank and has switched to being a member of a credit union knows the perks.   Credit unions tend to have lower fees, higher deposit rates, competitive products and services and most importantly great member service.  Why haven’t more people switched from their banks?  Why are younger generations not choosing credit unions?  Many credit unions do not have half of the marketing budget banks do.  Getting the word out can be challenging, but I have a few inexpensive …Read More

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Making referral campaigns successful:

Referral campaigns are one of the cheapest and most effective ways to increase your current market share.  There are four components to creating a successful referral campaign.  First you need a superior product or service that your current members find value in.  You have to offer a “freebee” that people will want.  Make it easy.  Lastly, get the word out without spending too much in overhead.  What product or service is it that your institution has that retains membership?  Is it free checking, a high …Read More

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