Our core system precludes capturing member cell phone numbers. As a marketer, we are intrigued by the opportunities cell phones present. What are our options, and what are your panel's thoughts on identifying expertise needed for marketing in this way?
Chris Barber, Senior Vice President/Chief Information Officer, WesCorp, San Dimas, Calif.
My suggestion would be to store the cell phone number in a separate database apart from the core system, perhaps your CRM system.
In terms of marketing, integrating your marketing approaches with mobile banking would be the suggested approach as the Member would have 'asked' to enroll in the mobile banking service. This permission facilitates other uses of the cell phone for marketing purposes.
Greg Crandell, EVP-Business Development & Sales, Digital Mailer, Herndon, Va.
Our company provides a service that lets CUs
1) use text messages to alert credit union employees to emergencies, and
2) capture and manage cell phone numbers and use text messaging for member alerts or promotion. As a marketing tool, texting is going to boom in the coming years as mobile finance becomes more prevalent.
Obviously, the challenges with marketing across this channel are much the same as marketing through email: building a "trust relationship" with the target.
I would suggest opening the channel as an option for interested members, then extending those involved special offers unavailable across the other channels.
As "indentifying expertise" goes, I know DigitalMailer clients can do mobile messages. I would be wary of anyone, however, who says mobile marketing will be the channel to adopt: not everyone is so eager to be marketed to over what has been a largely private channel up until this point.
The phone is just now beginning to ride sidecar to the laptop as a means of taking in/working with information.
Mickey Goldwasser, VP-Product Marketing & Communication, Open Solutions Inc., Glastonberry, Conn.
As a vendor committed to the credit union industry with a core system offering that easily and fully supports this capability, our first response would be to encourage you to pressure your current core vendor to supply this capability or even think about looking at other core solutions within the marketplace.
As more and more consumers begin to use cell phones as their primary means of communication and rely less on traditional landlines this medium is indeed a very attractive channel for communication with members
As for the value of capturing cell phone numbers and the marketing uses of this, there are great opportunities and risks with using cell phones for marketing. Here are just a few thoughts to ponder.
1) Cell phones are more intrusive than home phones, simply because they travel with you. A call at home to discuss new or better investment options might be appreciated now. But, if you're in a business meeting, or out to dinner, that same great offer might not be appreciated. Consider text messaging as an alternative.
2) Cell numbers have just been made public and many believe that there will be a deluge of marketing calls in 2009. And, cell holders are now allowed to list their cell numbers on the federal "do not call" list. Make sure your call doesn't make your member feel abused.
3) Unlike most land-lines, many cell programs still charge by the call, minute or text-message. Will you be costing your member real money each time you call or text them?
As for the marketing expertise required? Flexibility to hold the right data in your core system is key. You not only need to collect cell numbers, but also how your member wants you to use it.
When is the best time to call? Do they accept text messages, etc. Collect the right data, otherwise you may run the risk of just annoying your member. Used in the right way cell numbers can be a valuable channel to reach out to your current member and attract new members.
John San Filippo, Marketing Manager, Symitar, San Diego
I have to wonder about a core system that doesn't allow you to capture a member's mobile number, but that's a topic for another discussion.
It's hard to tell from the reader's question, but what they appear to be interested in is pushing marketing messages out to a member's cell phone, e.g., texting a marketing message.
Any time you wonder about a member's likely reaction to something, think how you would react.
Would you like to be "spammed" on your mobile phone by your financial institution? Probably not. What's more, many mobile service plans charge for texting per message, whether incoming or outgoing.
However, please don't confuse this with account alerts sent to a mobile phone. Made available as an option to your members, this can be a very useful and valuable service.
If your credit union is interested in leveraging the popularity of mobile phones, it makes more sense to me to invest in mobile banking.
The cost of entry is minimal, and especially with Gen Y, the upside can be significant. If you can make interacting with your credit union an integral part of a member's iPhone, G1 or Blackberry experience, I believe you've found the Holy Grail of "sticky apps."
Doug True, president, FORUM Solutions, Indianapolis
I believe it is important to capture member cell phone numbers with their opt-in permission.
I say "permission" as the cell phone is a very personal item for many members. It is likely the one thing that is most carried and in their possession for the longest period of time during a typical day.
I also use the word "permission," because you should find out how each member would like to receive communication from their credit union via their cell phone.
While some members might be OK with in receiving calls on their cell phones from the credit union, others would prefer a text message instead.
If you can allow your members to identify "the how" and "the what" then I think you have a powerful new channel to build a relationship with your member. The "how" would be voice or text, and the "what" would be what type of information.
For example, this could be alerts on debit card transactions, it could be on a specified low balance amount, or it could be short key words to conduct specific inquiries or transactions based on the member's personal profile they have established with you.
