Loan Promotions That Bring In The Bucks

Presented By: Tracey Wells Daly, Director of Marketing

Marketing Partners, Inc.

© 2010 Marketing Partners, Inc., Bethlehem, PA. May Not Be Reproduced Or Redistributed Without Permission.

1. Increased Competition• 207,000 Financial Institutions

• (X) Number Of Branches

• (X) Internet

• Over-Banked Society

• Declining Member Loyalty

• Aging Members

• New (Non-Bank) Competitors

• Can We Compete?

2. Build A Strong (Genuine) Brand• Unique Positioning

• Clear Name

• Appropriate Slogan (Tagline)

• Consistent Visual Image

• Integrated Sales Culture

• Defined Brand Deliverables

• Create Ongoing Value

3. Loans Make Sense!

• Deeper Member Relationships

• More Profitable Members

• Almost Everyone Needs Loans

• Used Vehicle & Equity Work Best

• Pre-Approvals Bring Higher Response Rates

• Must Have Complete List Of Products

• Sell Payment - Not Rate Whenever Possible

• Understand How To Fish For Members

4. Loans - The Perfect BAIT

1. Throw Them An Offer (Bait)2. Get Them To Start Nibbling (Inquiry)3. Explain The Benefits (Why Us?)4. Tell The CU Story (Builds Value)

They Don’t Know About CUs!!! 5. Impress With Your Service (Set Hook) 6. Keep Fishing (Change Bait As Needed)

5. Target For Response!Everyone Is Unique And Different!

5. Target For Response!Everyone Is Unique And Different!

5. Target For Response!Everyone Is Unique And Different!

5. Target For Response!Effective Targeting Will Increase Your Response Rates & ROI

5. Target For Response!

• By Geography (Proximity To Branches)

Convenience Is The No. 2 Reason They Don’t Join?

5. Target For Response!• By Geography (Proximity To Branches)

• By Demographics (Age, Income, M/F Etc.)

18 - 34 Year Old Segment

35 - 54 Year Old Segment

55 + Year Old Segment

5. Target For Response!• By Geography (Proximity To Branches)

• By Demographics (Age, Income, M/F Etc.)

• By Credit Score

• By Interest Rate

• Use Your MCIF Effectively (Track!)

• No MCIF?- Look At Multiple Relationships

And Account Balances For Best Targets

• Lifestyle Events Create Borrowing Needs

Lifestyle Events:Graduation

Marriage/DivorceHaving Children

MovingRaise/Promotion/New Job

Empty Nest (College)Retirement/Relocation

6. Track Response & Measure ROI!

It’s Not How Much Is In Your Budget For Marketing,

But Your ROI That Should Determine Where, When And How Much

Money You Spend!

6. Track Response & Measure ROI!• It’s Critically Important!

• Most Credit Unions Don’t

• Lead Tracking Sheets (All Contact People)

• MCIF Tracking

• Accountability Is A Must

• Low Response Should Provide Insight

• Trends Are Also Important Indicators

• Always Compare To Peers

7. Marketing Ideas That Work!• Use Campaign Themes - Not Just Promotions!

7. Marketing Ideas That Work!• Use Campaign Themes - Not Just Promotions!

7. Marketing Ideas That Work!

7. Marketing Ideas That Work!

7. Marketing Ideas That Work!

7. Marketing Ideas That Work!• Use Campaign Themes - Not Just Promos!

• Use A (Credit Union) Personality

7. Marketing Ideas That Work!• Use Campaign Themes - Not Just Promos!

• Capture A Credit Union’s Personalities

• Harness The Power Of Co-Branding

7. Marketing Ideas That Work!• Use Campaign Themes - Not Just Promos!

• Capture A Credit Union’s Personalities

• Harness The Power Of Co-Branding

• 18-Month Auto Letters (Next Loan)

• New Member Letters & Loan Offers

• Indirect Members - Credit Card Offers

• “Targeted” FREQUENCY Is Essential

• Ease Of Application

7. Marketing Ideas That Work!• Include A “Call-To Action” On All Offers

• Make Your Website A Loan Resource

• Create A “Hurry, Offer Ends” Date

• Cross Sell All Promotions

• Use A Variety Of Promotional Elements

• Try Multi-Loan Promotions 2 Times Per Year

• Risk-Based Lending Is A Must!

• Don’t Get “Hung-Up” On The Creative

There Is No Wrong Creative!

There Are Wrong Offers.

There Are Poor Marketing Investments.

Questions? Ask Tracey!

Email: twellsdaly@marketingpartners.com

Skype:twellsdaly

Phone:410.916.5190

Thank You!

© 2010 Marketing Partners, Inc., Bethlehem, PA. May Not Be Reproduced Or Redistributed Without Permission.