Discovery: Credit-based Target MarketingImproves Response Rates
LAS VEGAS - (06/26/06) -- Using credit scores to selectivelytarget CU marketing efforts improves product penetration, enhancesthe relationship with members and increases loan growth, attendeeswere told by a trio of speakers during an educational session atCUNA Mutual Groups Discovery conference here Friday. DenisKarandjeff, loan generation marketing manager for CUNA Mutual, saidnon-targeted mass marketing means paying too much for a typicalresponse rate of 1% or less. Valerie Passwaiter, senior marketingspecialist at Northwest FCU in Herndon, Va., offered examples ofthe evolution of Northwests refining offers to its members.Know who is borrowing, and what do they have in common withthose not borrowing, she advised. Jeff Terry, salesconsultant at CUNA Mutuals MEMBERS Marketing Source, said heworks with credit unions on improving campaign results by thepresentation and content of their marketing pieces.