Get the Gold Medal Multi-Channel Service You Deserve
Transcript of Get the Gold Medal Multi-Channel Service You Deserve
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Get the Gold Medal Multi-Channel Service
You Deserve!
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LKCS
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Today’s Presentation
Today’s presentation has the wrong title:
– It’s not about the “Gold Medal Service You Expect”
– It’s about the “Gold Medal RESULTS You Can ACHIEVE”
– Today’s focus: Multi-Channel Marketing
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What is Multi-Channel Marketing?
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Some of Your Options
Traditional• Direct Mail• Brochures• Billboards• Newspaper• Radio/TV• Logoed Products
Digital• Web Site• Banner Ads• Search Engine
Optimization• E-Mail Marketing• Social Media• Online Advertising
In-Branch• Posters & Displays• Digital Signage• Drive-Up Marketing• Teller Envelopes &
Handouts• Sales Efforts &
Incentives
Transpromo (Statements)
• Statement Inserts• Newsletters• Envelope
Backprinting• Statement Messages• Onserts• E-Stmt Banners
Branding Ties It All Together
Inexpensive Add-On
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You’ll Need to Choose Wisely
Member / Customer Acquisition• They Won’t Have Your Brochures• They’re Not in Your Branches• Lack of E-Mail Addresses• No “Free” Social Marketing• Not Getting Your Statements
Retention and Cross-Sell• All Options Available!
So What Do You Do?• “Balance” your budget based on your goals• Some options add little cost for maximum impact – especially when
marketing to existing account holders
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Age Matters – Right?
• One constant we hear: we need younger account holders
• Generation X: People born from 1965 to 1980• Generation Y: People born in the 80s & 90s
– Will rarely be seen in your bank• Millennials: Unaware of life before 9/11
• Do EVERYTHING online• Value their time more than anything else• Bigger savers than other generations and they don’t understand
the stock market.
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Online Shopping by Age Group
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Social Media Users by Age Group
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So What’s the Right Mix?
• Pick your “team” for each campaign. • Use our gold medal suggestions as your guide.
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Traditional Marketing Gold Medalist
• Direct Mail
– HIT YOUR TARGET – there is no better traditional one-to-one marketing method
– BEST OPTION FOR NEW MEMBER/CUSTOMER ACQUISITION
– High quality mailing lists available
• Demographic Targeting - Location (zip codes, carrier routes or distance radius), age, sex, income, home ownership and MANY other criteria.
• Psychographic Targeting – Behaviors, lifestyles, even financial information such as wealth, investments, and credit card usage
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Financial Profile List Data
• Nielsen Claritas P$YCLE divides every U.S. household into 13 different groups and 58 different segmentsbased on the financial behaviors and wealth of a household: Group 1 – Young Up & ComersGroup 2 – Metro MainstreamGroup 3 – Fiscal FledglingsGroup 4 – Flourishing FamiliesGroup 5 – Boomer ComfortGroup 6 – Mass Middle ClassGroup 7 – Working-Class Country
Group 8 – Financial EliteGroup 9 – Wealthy SeniorsGroup 10 – Suburban AchieversGroup 11 – Upscale Empty NestsGroup 12 – Midscale MaturesGroup 13 – Retirement Blues
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P$YCLE Segments
• 46. Settling Down –Almost evenly divided among singles, childless couples and families, this segment ranks just above average for household income but far below average for income-producing assets.
Financially, they’re heavy users of installment credit, personal and auto loans, and banking services like ATMs and checking accounts.
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Direct Mail to Existing Account Holders
• You have most of the data you need, you just may not know how to get it…
– Identify target groups of existing account holders
– Build profile of existing account holders to identify qualified prospects
– Extract targeted mailing lists of existing account holders
• LKCS’ Solution: DataFlex
– A powerful drag-and-drop reporting and data analysis solution. Ask us for a demo!
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Use Credit Data for Loan Campaigns
• Amazing targeting capabilities for loans
– Based on credit score and credit history
– You set the criteria you are looking for
– Auto loans, mortgages, home equity loans, credit cards, personal loans…data available for any type of loan
– New loans, refinances, and balance transfers
– Cross-Sell and new account holder acquisition
– E-mail offers to existing members/customers!
• Less expensive than you think
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Get the Most Out of Direct Mail
• Personalization– Can dramatically improve response rates– Use personalization to:
• Make your offer more relevant by using specific data • Extend pre-approval offers for auto loans, credit cards, home
equity, mortgages, etc• Simplify response methods by pre-filling applications or reply
cards– Recent DMA Webinar cites personalized letters as best
direct mail option– Laser letters, postcards, self-mailers are all viable direct
mail campaigns at ANY quantity, no matter how small
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Get the Most Out of Direct Mail
• In my humble opinion…
EVERY direct mail campaign to existing members/customers should have an e-mail component. NO EXCEPTION.
• It’s an inexpensive add-on• It reaches people who don’t see the mail• It reinforces your direct mail piece• Get better results when used together
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Digital Marketing Gold Medalists
• Your Web Site is Your Flag Bearer– Your MOST CRITICAL marketing effort– As important as building a physical branch (arguably
more important)– The cornerstone of branding standards for other
marketing efforts
• Responsive Web Sites Make a Difference– Your site MUST be mobile-friendly; no longer an
option– Over 40% of web traffic is now from mobile devices
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E-Mail Marketing
• If you’re not sending e-mail blasts regularly, you should be!
E-mail marketing has an ROI of 4300%!
That’s why marketers send over 838 BILLION emails annually.(sources: Direct Marketing Association, Forrester)
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E-Mail Marketing Statistics
• A few additional e-mail marketing stats:
51% of all e-mail is opened on mobile
devices.Use responsive design
templates.
80% of people are only scanning your e-mail.Use a bold image and
strong headline.
58% of adults check e-mail first thing in the morning.Try sending your
e-mails early.
People check their smartphone up to 150X a
day.Use e-mail and social
together to reinforce your message.
iPhones will cut off a subject line over 32
characters.Put the most important
words of your subject line first.
Surrounding text with a significant amount of white space improves
comprehension by 20%.Don’t pack your content
too tightly.
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Benefits of Using E-Mail Marketing
• Inexpensive
• Measurable
• Trackable
– Follow up with individuals that click specific links
• Do It Yourself
– WYSIWYG, Drag and Drop Interfaces with no programming required
• Responsive (Mobile Friendly)
• Schedule for Future Delivery
• Automation Options Continue to Improve
– What? Automate your follow-up for even better results!
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E-Mail Message Results
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Online Advertising
• Your #1 Source for Information: The Internet
• Your #1 Advertising Medium: Not the Internet?
• See the disconnect?– Your members/customers are researching and shopping
online.
– So that’s where you should be advertising.
– And, online ads are actionable – people can click on them and go directly to the landing page to “buy”.
• You set your budget. Daily / Monthly / Per Campaign.
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Search Engine Advertising
70.16%
11.31% 7.68% 8.8%0.28% 1.77%
01020304050607080
Google Bing Yahoo Baidu Ask Other
Social Media Advertising
Online Advertising Options
Search Engine UsageJune 2016
Facebook89%
YouTube36%
Twitter39%
LinkedIn21%
Other18%
Where Marketers are Spendingon Social Media Ads
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How It Works – Costs and Budgeting
Pay Per Click• Cost per click (CPC)
• You pay each time your ad is clicked
• Many people see your ad without clicking on it – they may visit your site on their own
• Known cost per click (it’s an auction)
• Set a budget for the campaign, for each day, etc. You won’t go over that budget, but you may not reach it either.
• Use Cost Per Click if: – You want to accurately track the
number of clicks your ad gets
– You are a disciplined advertiser who sticks to your budget and doesn’t get into bidding wars
Pay Per Impression• Cost per impression (CPI or CPM)
• You pay each time your ad is displayed on a web page
• Pricing is generally established per 1,000 impressions
• You know exactly how many times your ad will appear for your budget. But you don’t know how many people will click through.
• Use Cost Per Impression if:– You can realistically expect a high
click-through rate on your ad
– You are executing a launch for a new product or service
– You are trying to build brand recognition
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How It Works – Ad Targeting
Google / Search Engines• Keyword Targeting – Choose words or
phrases relevant to your products and services. Ads will be displayed to people who are searching for those terms.
• Location Targeting – Choose the region or cities/towns where your prospects are located.
• Device Targeting – show ads based on device type.
• Retargeting/Remarketing - Display ads to people who have already shown interest in your business or products by visiting your web site or a specific web page.
• NEW Customer Match – display ads to people based on their e-mail address.
Facebook / Social Media• All of the above PLUS
• Age and Gender
• Interests – based on things people share, apps they use, pages they like, etc. (cars, home improvement, investing, etc.)
• Behaviors – based on purchase behaviors or intents, travel preferences, device usage. Useful financial info here! Some data provided by Acxiom.
• Education – education levels, specific schools, fields of study, etc.
• Connections – show ads to people who have or don’t have a connection with you or to friends of people with a connection to you.
• Custom Audiences – target account holders by e-mail address or phone number
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How It Works – Ad Types
• Search Ads– Text based ads that appear with search results
• Display Ads– Graphical ads that appear on other sites within each search network (ie –
these won’t appear with search results on Google, but will appear on YouTube, Gmail, and other sites)
• Boosted Social Media Posts– Surprise! Only a fraction of social media users will see your posts. To get your
posts/tweets delivered to more of them, you’ll need to pay for it. Inexpensive and could be well worth the cost for some posts.
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Why Digital Signage?
Posters• Little Upfront Cost
– Frames
• Higher Ongoing Costs– Design– Printing– Shipping– Coordinating with Branches
• Static Content– One Message Per Poster
Digital Signage• Higher Upfront Cost
– TVs– Media Players
• Lower Ongoing Costs– Design– Service Subscription– Centralized Management &
Scheduling
• Dynamic Content– Multiple Messages Per Unit– Animation Attracts Attention
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Easy as Plug and Play
• Digital Signage has evolved. – Turn any TV into a digital sign in minutes, just need an HDMI
port and WiFi
– Create and manage content online
– Low cost
– No servers or software to manage
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Statement Onserts
• Graphical ads directly on your statements and e-statements
• No printing or shipping costs
• Selectively include for different groups of account holders
– Target by geography, age, account relationships, balances, etc.
• Display in full color on e-statements
• Onserts can be included at just about any size and position
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Marketing on E-Statements
• Including marketing on your e-statements is even more important than your paper statements.
– Online members are less likely to come in to your branches
– As you convert more members to e-statements, statement inserts become less effective (and you thought that was impossible…)
– E-Statement marketing can include links that enable people to take action. A huge advantage over traditional statement marketing.
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Inserts Delivered with E-Statements
• Banner Ads– Link to web pages or PDFs
– Appear for all account holders or selectively
– NEW FEATURE
• Each banner ad is flagged until the user clicks on it
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E-Mail Notification
• Custom E-Statement E-Mail Notification
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Newsletters are on the Decline
• Newsletters were a staple of your marketing efforts. So why abandon them?– Increased E-Statement Adoption– Cost– Time
• Biggest Newsletter Benefit: Content Generation– That is the time consuming part
• Suggestion: Re-Use and Re-Purpose that Content– E-Mail Newsletters (shorter, more frequent)– Social Media Posts (I’ll bet we can find a bunch in your last
newsletter)– Web Banner Ads, Digital Signage Ads, Statement Onserts
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Bundle for Savings. Like Flo!
• What could you bundle?– Here’s an example:
• You design a poster.• That same design, can easily be converted into:
– A web site banner ad– A billboard– A statement onsert– A social media post– A newspaper ad
• Much less expensive than designing them individually – and your message gets spread across multiple channels
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“Give Me the Usual.”
• You may have a standing order at your favorite bar or restaurant
• Marketing campaigns can be similar
• Consider pre-determining the components of “Major” and “Minor” marketing campaigns or “Existing Member/Customer” and “New Member/Customer” campaigns.
• Your team and vendors will know what’s expected up front. And the time/cost will be lower.
• Yes, you’re bundling again!
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Thank You
What questions can I answer for you?
Sid HaasVice President of Business Development
(815) [email protected]