Getting a return on your marketing budget

I was recently at a credit union marketing conference at the MGM Grand Casino in Connecticut.  The conference was smaller in size and it gave me the opportunity to meet some really great people, listen to their concerns for 2012, get some great ideas and hopefully helped some people out.  The questions were the same; does direct mail work?  How can I measure campaigns effectiveness?  Should I pay for pre-approved lists?  Am I getting a return on my investment?  With spreads shrinking and budgets getting …Read More

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Benefits of customer relationship software:

If you researched the untapped business potential of the people you already do business with, you would be astounded.   It is more important than ever to build upon the relationships of your current member base.  With customer relationship software you can have a screenshot of every loan, deposit, and sticky service your member has with you by clicking a button.  You can utilize that screenshot to find out what products and services you offer that this member could use.  Instead of wasting money and resources …Read More

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5 Steps – From order taking to sales:

 Know your products.  You can’t offer something you know very little or nothing about.  Learn about all of the products and services your financial institution has to offer.  What makes them unique? How do they work? What does it take to sign up?   You want to make sure you know everything there is to know.  Set a goal of learning one product or service per week.  Test yourself. Ask questions like, in what situation would this product or service benefit me? Know your members.  How …Read More

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Generating loans when times are hard:

There are many people out there still taking out loans.  You just have to find them.  The days of loans walking through the front door are over.  The people that are buying have just changed their buying patterns.  Now instead of buying that new car because they feel like it people are waiting until they need it.  Many people out there still have equity in their homes that can be used.  There are investors buying foreclosed real estate that need the funding.  And, there are …Read More

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The power of the phone

When was the last time you called a business and had to work your way through numerous automated messages before you could talk to a person? How do you respond when a business calls you? It probably depends on the context of the call. Unfortunately, many people in the financial industry take the power of the phone call for granted. The phone is a great marketing tool if every conversation is well worded, professional, and helpful. What happens when someone calls your business? Does someone …Read More

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