Cementing the relationship
Almost 75% of cross-sell in a new member relationship takes place in the first three months – and you need insight to preserve and grow this new member relationship in this critical stage. It's clear from the data: members who hold multiple accounts are much less likely to defect.
Modeling for the Exact Product Offers
Here's where onboarding and long-term profitability make the critical connection. As your new member begins the onboarding process, our CrossLINK solution appends demographic data to each member's records. We create discrete member segments and optimum credit union product profiles by those member segments. Coupled with your business rules, we build the "next most-likely product purchase" model. Scoring products by both their profitability and the new member's propensity to buy, we create an offer matrix that drives relevant cross-sell communications.
Pairing the Offer with the Right Message
Driven by member insight, CrossLINK methodology crafts the messages and offers that your mail and electronic communications carry to the member – always ensuring that those offers are relevant and timely. The CrossLINK communications system tailors messaging sequence and frequency, reduces "list fatigue" and eliminates message conflict. Our turnkey system includes creative, printing, personalization and mailing services.
Critical to Member Growth: Engaged Employees
The success of our proven employee training programs is largely due to the customization for your credit union's brand, market position and product line. As CrossLINK insight drives next-product-to-buy communications, your employees' training emphasizes the "next product purchase" methodology and a better understanding of what products are most profitable for the credit union. Again, your employee training pays off by putting a face to your offers – an informed, engaged employee.
By the Numbers
Typically, after six months of using the total member-based marketing process, credit unions often see new member acquisitions increase two to three times over previous acquisition efforts.
If these kinds of numbers look good for your credit union, let's work together on a test to see how good your numbers could be.