AUSTIN, Texas -
Royston noted that Altura has had success with an "opt-out" e-mail campaign, she said. Members must "unsubscribe" if they do not wish to receive future marketing e-mails. The credit union dangles exclusive offers, news and notifications to members who agree to continue.
In one lending promotion, Altura randomly sent one of four auto loan offers to 2,300 members to discover which message resonated, she said. The results: $338,000 in new and used auto loans for a 3,019% ROI on the campaign.
"Once a credit union gets e-mail addresses and gets its message out there, members are interested," she assessed.
To further expand member relationships, Royston said CUs should target existing loan holders, offer refinancing promotions, encourage switching accounts from other institutions, offer pre-filled online loan applications and pre-approvals via online banking, and offer special rates and promotions to online banking users.
"The key thing is to get their e-mail address and find a way to connect," she emphasized.
