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The DigitalMailer Blog

November 23, 2009

Where The Buys Are

Filed under: Credit Unions,e-mail,e-Statements,Marketing,marketing on a budget,smart marketing — 2:54 pm

by Ron Daly

No, not the Connie Francis song – I’m talking about where the BUYS are. We know (and we’ve mentioned before) that we’re partial to email marketing. But you’re wondering about the profitability of marketing via email and whether or not there’s any impact when you’re using email to market products. Which emails are sure to get opened?

If you’re a credit union marketer, you have a particular challenge when it comes to email marketing, and a particular advantage to answer it. Your problem:

  1. getting members to buy/invest more at the credit union,
  2. getting them to recommend the credit union to friends, and
  3. finding a way to get either done with a limited budget and in a limited space.

What’s the advantage, you’re asking? Take a look at this chart from eMarketer Daily.

According to this chart, financial emails are getting read between 60 and 70 percent of the time. When you send your eStatement reminders every month, your members are going to open them for a look-see. Why not start branding them and adding in links/ads for other services and support from your institution? Push new products and rates, or encourage members to tell a friend and promote your credit union to potential members in the community. Take advantage of the relationship you’ve already established and a high open rate. That’s where the buys are – smart, well-placed ads that tell members and potential members what they need to know.

As Liz Miller of CMO Council says:

“Irrelevant, impersonal communications, be it email or traditional mail, is a waste as it does not engage a receptive recipient…It is no surprise that consumers are opting out of irrelevant emails. However, what is a grave sign for marketers to heed is that customers will disconnect and stop doing business with brands who continue to send messages that demonstrate a lack of intimacy, customer insight and individual understanding.”

Email marketing works best when you can tailor it to the target. If you’re interested in getting members. The DigitalMailer Automatic Relationship Builder helps marketers do just that. How? Visit our ARB page or call us today to find out – 866.994.4900 ext. 115 or for more information.

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