The DigitalMailer Blog

January 12, 2011

Social Media’s Still Around…What’re You Doing About It?

Filed under: Blogging,Credit Union News,Credit Unions,Financial News,Generation-Y Marketing,smart marketing,Social media,technology — admin @ 1:19 pm

by Jimmy Marks

Yep, I was just as surprised as you. People are still bothering with this “social media” falderal! How about that!

What’s more impressive than social networks’ popularity is the impact they have had on the finance industry. Recently, Aite Group did a study in which 90% of the respondents said they’d have a dedicated budget for social media by 2012. That’s pretty impressive, given the sheer number of people that have no clue where to begin (that same Aite Group report found that 71% of respondents considered themselves beginners and “non-experts” when it came to social media).

With that in mind, we thought we’d point you to some resources that might be helpful to you.

Credit Unions Talk About Social Media [click here to view]

This white-paper is hosted on the Kansas Credit Union Association website and has some insight from ten credit unions that are “engaged” in social media. The content and the approach to the subject is very clinical, but there is some interesting insight to be found there. Give it a read.

5 Ways Financial Institutions Can Use Social Media* [click here to view]

The asterisk is “Along with some fairly significant caveats”. Jeffry Pilcher of the Financial Brand wrote a hackles-raising article called “Why Social Media Is a Waste of Time for Most Banks & Credit Unions“. It made a lot of people happy and it made a lot of people angry. A blogger’s dream.

Around one month later, Pilcher created the article mentioned above that gives five ways financial institutions can use social networking to their advantage. It’s very matter-of-fact, but maybe that’s what some FIs need. For the most part, the article discusses the practical application of the channel and the kind of self-reflection that needs to happen before an FI gets involved. Go read it.

Here’s hoping you find something helpful in all this. DigitalMailer will happily include any links/share buttons to YOUR social media content in emails you send via the ARB. If you’re really serious about starting, we can even help you get set up! Contact your account manager or email us to talk about it.

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October 13, 2009

While some see red, Old Hickory Credit Union is seeing pink.

Filed under: Credit Unions,DigitalMailer,e-mail,email marketing,Financial News,Great Ideas from CUs Like Yours,Marketing,Old Hickory Credit Union — admin @ 1:56 pm

by Ron Daly

I’m sure football fans have noticed all the pink surrounding their favorite teams, cheerleaders and even stadium equipment the past few weeks. Sports Illustrated even “went pink” in its most recent issue, all to acknowledge the fight against breast cancer. I saw a great program go across the DigitalMailer production line this week and wanted to share it with everyone.

For the month of October, which is Breast Cancer Awareness Month, Old Hickory CU is working hard to increase awareness and contribute to cancer research. Their approach, outlined here in their monthly “Money Memos” newsletter, which by the way is pink this month, is threefold:

1. A team of Old Hickory CU employees will be participating in the Nashville Making Strides Against Breast Cancer event on Saturday, Oct. 24. Their goal is to donate $2500 to the American Cancer Society;
2. Old Hickory CU is selling pink umbrellas for $15, with $7 of that going to the American Cancer Society. These umbrellas also come with a set of coupons for credit union services that benefit members; and
3. All branches are offering information on breast cancer awareness, as well as supplemental cancer insurance policies.

When we inquired about the eLert topic Malinda Warchus, Assistant VP of Marketing commented “It might seem like a strange thing for a financial institution to send out an eLert about, but we are committed to improving the lives of our neighbors and making a positive difference in our communities. The outpouring of response from our members tells us that they like joining our cause.”

Not strange at all…and we agree with the members! In fact, I hear our DMI team is in line for any umbrellas that are left once the members are taken care of.

Most of the time, Credit Unions think they can only use member email addresses for eStatement notifications, newsletters or selling a new product or service. Those same email addresses can be used to communicate the difference between a bank and a credit union, as well as raising awareness among CU members the community outreach credit unions are involved in. Old Hickory CU has done just that by tying into a national promotion and using inexpensive methods of communication (email, electronic alerts, and monthly newsletter) and community outreach to reach members and potential members at a fraction of the cost.

Kudos and this effort speaks to the character of Old Hickory CU employees and management. Keep up the great work!

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August 20, 2009

A Special Message to Our Clients – There’s No Such Thing as "Over-Disclosure"

Filed under: Credit Cards,Credit Union News,Credit Unions,Financial Crisis,Financial News — admin @ 2:34 pm

by Ron Daly

With the Credit CARD Act of 2009 going into effect today, the talk in the industry is all about disclosure. CUNA News Now published this article “21-day rule: CUNA urges CUs ‘document everything’” What’s the best way to tell your members about the changes in credit card rules and the changes in your policies as a result of the CARD Act?

The Answer: ANY way you can tell clients about the new regulations is a great way to tell clients about new regulations.

The example below is from Belvoir FCU. Click the thumbnail to see the full size image.

For our clients: We want to let you know that we’re here to help and that there are several ways we can increase awareness for your members – the way we did for Panhandle Educators (click below to see example)

Preview of Panhandle Educators statement notice

We can add a notice to your eStatement notification emails, to your Customer Communication Center splash pages, we can load a permanent notice inside the available statement library, or we can even send a special notification through the ARB to your mailing list. The statement needs to be as clear as possible, and the more members see it the better they’ll understand the new regulations.

For NON-Clients: We’re more than willing to get you set up with a special one-time ARB email for your specific mailing list. Just give us the addresses and we can get the word out for you.

You and your credit union/financial institution are going to need to act fast to spread the word. Take advantage of the many channels you use to communicate already to be as specific as you can about the new regulation.

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July 7, 2009

Pyramid: Standing the Test of Time

Filed under: Credit Union News,Credit Unions,Financial News — admin @ 1:43 pm

by Ron Daly

I thought we’d highlight the good works and good reputation of a credit union that has been serving members for the past eighty-four years.

Pyramid Credit Union in Tucson, Arizona has four generations of members and a life-long reputation of helping those who wanted a better financial future. Recently, an article about Pyramid was published in the CU Journal (click here to read “It’s a Wonderful Life Really Does Still Exist in Tucson, Ariz.” by Paul Lucas). At Pyramid’s 80th annual dinner meeting, members celebrated the good works of the credit union and the credit union celebrated its diverse and long-standing membership.

And what a story! At BarCampBank Vegas, friend and colleague Robbie Wright asked why everyone doesn’t get their own credit union started. Some might have balked at the idea, but reading about Pyramid’s humble beginnings makes the idea seem pretty smart to me. Lend a little, get a little more back, help out your fellow man. And they’ve kept the basic concept at their core for eighty years now.

Keep up the great work, Pyramid. Here’s hoping that everyone in our industry takes a page from your book and works to better their community and the lives of their members.

Does your CU have a great success story? Tell us about it in the comments section.

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January 14, 2009

Now’s not the time to let off the gas, folks.

Filed under: Aite Group,email,email marketing,Financial News — admin @ 4:30 pm

by Ron Daly

Jimmy sent me a link to a report (click here to get it for yourself) shown to him by Ron Shevlin of the Aite Group in Boston (click here for their homepage). It talks about plans that Financial Institutions have for spending in the next few months. Want to see what almost made me do a spit-take with my coffee (I didn’t – new computer, don’t want to ruin it the first week):

What are your plans for spending on marketing programs in 2009 compared to last year? (n=79)

I was stunned that the numbers were so close. Sure, some folks get scared in a recession. But DigitalMailer knows (and has known since before the recession was an official Recession – click here to read) that marketing hard is important when things are shaky. If consumers don’t know you’re there and you have products to offer, how do you think you’ll keep your business profitable or your employees employed?

Now, for the news that really knocked my socks off:

That’s a 45% increase on email marketing for small FIs and a 25% increase for the large ones. Apparently, FIs across the country are getting the idea.

The moral of the story: Don’t be afraid to market hard right now. You’re not going to be the only one doing it. And certainly don’t be afraid to use email marketing – it’s more cost effective, it’s easier to change/personalize, and it works.

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November 24, 2008

Can’t Miss Reading List: Bailout Edition

Filed under: Can't Miss Reading List,Credit Union News,DigitalMailer,Financial Crisis,Financial News — admin @ 2:43 pm

by Ron Daly

Bailouts, bailouts, bailouts – everything bailouts!

For Credit Unions:

The NAFCU blog’s assessment of HARP/TARP
The NCUA’s meeting minutes
What I consider to be THE “Can’t Miss Read” of the week, an article from Chip Filson at CreditUnions.com about the bailout for CUs (“Taking the King’s Schilling”).
Our CUJournal.com partner blog, The CUSoapbox, started an entire web page devoted to CU individuals and employees that wanted to talk about the CU Bailout. Click here to read the responses and see what the industry is facing.
I got a little angry this week, too…not at the bailout in particular, but at a certain “American Institution” that was seeking their own slice of that $700 billion pie. Read my response to the auto industry bailout, “Have Plane, Will Travel”.

For your average joe:

How the bailout will affect you, from MSNBC.com
We’re back to spending less! A “Duh” of the week from The Economist.
Want to know where your bailout’s going? Here’s a list of who’s getting money and the amount.
Want to go to Inauguration Day ceremonies AND save the economy? Take advantage of Omni Hotels’ “Commander-in-Chief” package in DC and get tickets to the event, a makeover, presidential cologne and…get this…a PUPPY! Sign up now!

And your “this counts as news” story of the week?

Police post want ad for people to become snitches. From MSNBC.com.

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November 12, 2008

See what we mean?

Filed under: Credit Union News,e-Statements,electronic statements,email,Financial News,Marketing — admin @ 4:42 pm

by Greg Crandell

When we bring in a new client, we try and convince them that using email to on-board members is faster, easier, smarter and more effective than other methods. Email’s great for building and strengthening member relationships. And we’re not the only ones who think so.

BAI just published this article (click here to read) about E*Trade‘s on-boarding email practices. What’s more, they presented this graphic representing the results of a Javelin research study.

[For details, click the image.]

People are asking for email statements/communication. And for just the reasons I stated:

1) SPEED – Why wait on paper mail to get in touch with people? Two weeks to make one statement say “hello and welcome” to a new member?
2) EASE – One campaign can roll out within a matter of hours, not weeks worth of printing and prep.
3) INTELLIGENCE – Know who to send to, when to send and what to say. Don’t waste time blanketing every member when you can target specific members and groups.
4) EFFECTIVE – You want $1.4 Million in new loans? Want to boost ROI? We’ve got the means.

Our ARB can do for you what E*Trade does for their new customers. To learn more, sign up for our webinar “Do you want fries with that?” by clicking the icon at the top of the left column.

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October 16, 2008

On Greed and Fear: How Credit Unions get the most out of the crisis.

Filed under: Credit Union News,Credit Union Tech,Credit Unions,Financial Crisis,Financial News,Great Ideas from CUs Like Yours,Loans,Marketing — admin @ 7:22 pm

by Ron Daly

Came across an article today written by Warren E. Buffett. Buffett knows money, I think that’s safe to say. Read his very good article here.

Anyway, he said something in his op-ed piece that really stuck with me:

“A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful.”

This was one of those things that, on the first read, was smart sounding. But reading it again gave me a clarity I hadn’t expected. It made me think about our industry and how we SHOULD be looking at the opportunity presented.

Now, more than ever, attention is placed on the stability of credit unions versus big banks. In the midst of the big earning days of low-rate loans and bum securities, banks were greedy and CUs were fearful…fearful of loaning and mortgaging irrational sums. Naturally, lending money to people who couldn’t afford to pay it back turned out to be a bad idea.

So now comes the time where CUs are thriving and banks are scrambling to make up the difference. Is this the time to drop marketing? Is this the time to be weak-willed when it comes to drawing members? Quite the contrary.

Now’s when CUs need to:

1) Market Hard
2) Consider their next round of member rewards and incentives
3) Become the “Bull” of finance, not the “Bear”.

You are worthy of attention, CUs – you made the right decisions at the right time and you’re getting praised for that. Now’s your chance to be greedy when the other financial institutions are fearful.

To learn more about how to up-sell and maximize your marketing potential, sign up for our “Do you want fries with that?” webinar.

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The History of SPAM: Everybody Knows

Filed under: Credit Union News,Credit Union Tech,Credit Unions,e-mail,email,Financial News,SPAM,spam filters,SPAM history. — admin @ 1:42 pm

by Greg Crandell

I get this complaint from Credit Unions and other businesses all the time:

“We don’t want to start sending e-mail messages and statements to our clients because we’re going to get phished”.

It’s one of those funny statements like “life isn’t fair” that’s right and wrong all at the same time. The Credit Unions we serve aren’t being phished. No one’s asking them for crucial information and taking advantage of it. What happens is this:

1) Some crumb-bum (pardon my French) sets up a website/e-mail address and snags a picture of a CU’s logo.
2) They start e-mailing people (members or not) and asking for their social security numbers, member numbers, account numbers, names, addresses, mother’s maiden name, etc.
3) Here’s where we get a split:
3A] The targeted e-mails drop the phish e-mail in their SPAM folder. End of discussion.
3B] The member gets smart and deletes it. End of discussion.
3C] The member ACTUALLY SENDS ALL OF THEIR CRUCIAL PERSONAL INFORMATION TO A COMPLETE STRANGER WITHOUT THINKING!!!!

Sorry, went a little crazy there. But it DRIVES me crazy. People short their members out of essential services in favor of “steering clear of trouble”, so they say. Oh really?

I recall the 70s (yes, I was clean-living enough to remember some of it) – people would put boxes in front of ATMs marked *ATM BROKEN, PLACE DEPOSITS HERE*…and people did.

And, of course, we stopped using ATMs altogether.

Then, people started “vishing” – or voice phishing – by calling up people and taking their information or asking for mail-ins.

So naturally, we stopped using the telephone.

Is any of this sinking in? You can’t just run away from technology because people start using it for ill. You’re cheating the people you serve out of what they need to manage their money and make decisions regarding the use of your business.

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October 7, 2008

Shoot First, Ask No Questions, Offer Blind Opinion

Filed under: Depression,Financial Crisis,Financial News,Loans,Money,Ron Rants,Special Reports — admin @ 1:13 pm

by Ron Daly

Well, it’s official: the economy stinks.

Not that anyone with half a brain (or considerably less) couldn’t see it coming. But things get really rocky when the Dow starts to plummet and the banks all fail and the government offers a “Sweetened Bail-Out” package…you get the idea.

But then some of my employees were chatting and had heard that, throughout the web, things were looking grim. There was this story from CNN which is terribly depressing – and with the word “depressing” comes the word “depression”.

Yes, depression. As in The Great Depression. As in “Brother, Can You Spare a Dime?” depression. Which 60% of Americans think we’re facing. And that means 60% are overreacting.

You might not agree with me. You might think we’re doomed. But the Wall Street Journal doesn’t think so…which is to say the Nobel Laureate who authored this article doesn’t think so. The LA Times seems to argue that depressions in economics are inevitable, but another “Great Depression” is highly unlikely. People in Congress and in the Media have been yelping about depressions and recessions and bailouts and the plummeting market and that’s got you worried. You should be worried, but you shouldn’t be terrified. You should be ACTING on good information given to you by informed market professionals. Don’t sell everything you own. Don’t give away all your possessions and run off into the desert. Just think carefully and don’t get overwhelmed by people telling you we’re all doomed.

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The DigitalMailer Blog

While some see red, Old Hickory Credit Union is seeing pink.

A Special Message to Our Clients – There’s No Such Thing as "Over-Disclosure"

Pyramid: Standing the Test of Time

Now’s not the time to let off the gas, folks.

Can’t Miss Reading List: Bailout Edition

See what we mean?

On Greed and Fear: How Credit Unions get the most out of the crisis.

The History of SPAM: Everybody Knows

Shoot First, Ask No Questions, Offer Blind Opinion

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