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Friday, May 22, 2009

All it takes is one click!

Imagine increasing your electronic statement enrollment leaps and bounds with a single e-mail. Sound impossible? Not with DigitalMailer's "One Click" campaign.

After nine years of creating and implementing electronic statements for credit unions across the country, we've seen and heard some great promotional offers to encourage eStatement enrollment. iPod, Camera, Wii and PDA giveaways are pretty standard, as are plant-a-tree promotions and monetary incentives. Folks who sign up are happy with their statements and credit unions are happy with the savings.

Recently, we started a new campaign which lets members sign up for eStatements by clicking on a single button in an e-mail. One click is all it takes to enroll in eStatements and move away from costly paper and printing. We recognized after creating a number of these campaigns that several key steps could be rolled into one. By verifying an email address, sending an email with the legal agreement attached, allowing the member to read through the agreement and sending their "opt-in" agreement to the credit union, we would be cutting out unnecessary steps, thereby saving time and money.
"One of the good things about this campaign is that members don't have to go to an enrollment page, type in personal info such as account number, SSN, email, name, etc. They click the button and we find the info in the CU system. No need to exchange personal info at all."
--Traci McNamara, Account Manager, DigitalMailer

Two credit unions that are currently using the "One Click" campaign:

Hudson River FCU decided to use the "One Click" in conjunction with a $100 offer to draw in new eStatement users. Since sending their e-mail in April, they've increased total eStatement use by 15%! Hudson River plans to run the same campaign in May and June, and with similar results month to month they stand to save over $14,000 with eStatements.

Belvoir FCU has offered eStatements for the past seven years. Introducing the "One Click" campaign in the middle of April, they've experienced a total 5% growth, and are running the campaign again in May. Even more interesting, there's no offer attached - people just click to sign up! Belvoir will be running the same "One Click" campaign through june. If they have the same success in June, they will be saving an estimated 50% of their total cost by switching those paper statements to e-mail!

Something to take away from this campaign and its successes :

1) When members know it's easy to get started with eStatements, they'll go for it.

2) Your eStatements can lead to great savings. The more enrollments you have, the more you save on printing and postage.

3) It can work with a special offer or without.

4) You can get the campaign for your CU and get started right away!

Click here for more info on eStatements!

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Tuesday, May 5, 2009

20&Change: Straighten Up and Fly Right



by Jimmy Marks

The economic crunch has really "put a hurtin' " on employment. This is especially important to people in my generation, many of whom are just leaving college and need to find a job somewhere...anywhere, even. But people my age have been given a bad rap in the media - labeled as spiritless and pouty in the workplace, seen as always needing their hands held, regarded as a distraction more than an asset. As recently as a week ago, people were talking about Gen-Y as a drain on productivity and workplace efficiency (click here to read).

From that same article:
"Managers have reported a lot of problems associated with this – primarily that these employees have unrealistic expectations and a strong resistance toward accepting negative feedback," he said.

"Basically entitlement involves having an inflated view of oneself, and managers are finding that younger employees are often very resistant to anything that doesn't involve praise and rewards," he added.
But this article from the Wall Street Journal actually makes Gen-Y seem...well, moderately competent and not stupid and whiny. Hooray! We've got at least one supporter.

From the WSJ article:
"Many Gen Y-ers are also becoming ... 'good workplace citizens.' That is, rather than demanding to be catered to, they're instead becoming prompt, dressing more appropriately, following up on obligations, and using better judgment. 'They're also shifting their attention from peer relationships to building rapport with managers, customers, vendors, and other decision makers...'"
Not only are my fellow whippersnappers becoming more professional, they're REALLY starting to take an interest in their finance management. According to this article from PlanAdviser.com, more and more Gen-Ys are asking for advice on retirement savings and benefits through work. The downturn has really taken its toll, shaking my generation lose of their false sense of entitlement and showing them that now is the time to straighten up and fly right.

Now, the question: what will you do with this information? Because if you're a Credit Union, one that's touting your capacity for smart savings and money management, you need to talk up your ability and your willingness to help young folks get their lives in order. Quit with all that "We're so dope and fly and fresh and jiggy!" talk. It's doing you no good. Make your message clear and plain - that you're willing to help the youngsters make smart decisions about their money and smart investments for their retirement. PNC has managed to make a go of it, signing up 20,000+ folks for its "virtual wallet", 70% of which were Gen-Y aged (click here to read all about it). You can do this, too. Just offer a smarter, easier way to "get" finance. A smarter, more humble Gen-Y will thank you for it.

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