They've Enrolled In E-Statements... Now Set the Stage for Success!
Transcript of They've Enrolled In E-Statements... Now Set the Stage for Success!
They've Enrolled In E-Statements...
Now Set the Stage for Success!
LKCS
Today’s Presentation
• E-Statement Marketing
– E-Statements save you money, but is their a cost? How are other institutions incorporating marketing campaigns with their e-statements?
– How can you generate income from your statements and e-statements?
Act One
Get Your House in Order
Scrutinize Your E-Statement Solution
• Deliver a premium user experience.
– People know what to expect when they open an envelope. What will they experience online?
– Deliver a BETTER e-statement than your paper statements.
– Provide a benefit to your account holders, not just a benefit to your institution.
Branding
Reformatting
Retention
• Be the Filing Cabinet– 12 months retention should be the minimum– 18 – 24 months becoming much more common– Some customers asking for unlimited retention
• Instant Presentation– What’s available when an existing account holder
enrolls for e-statements?
Multiple Document Types
• Are you only delivering monthly/quarterly statements electronically?– Daily Notices (insufficient funds, certificate renewals, overdraft
protection, late payment/delinquency, etc.)– Credit Card Statements– Mortgage Statements– Tax Forms (1099s, 1098s, 5498s, etc.)
• How much more could you save if all of these were provided electronically?
Mobile Friendly E-Statements
• Over 31% of U.S. internet users ONLY use mobile devices.
Text Message Notifications
• Account holders specify notification preferences.
Act Two
Get to Know YourE-Statement Marketing Tools
E-Statement Marketing
• Just because you are saving money with e-statements doesn’t mean you should sacrifice all marketing opportunities.
• How are your best account holders going to know about your latest specials and newest products?
On the E-Statement
• Banner Ads– Link to web pages or PDFs
– Appear for all account holders or selectively
Call Out What’s New
• NEW FEATURE– Each banner ad is flagged until the user clicks on it
On the E-Statement
• Statement Ads/Onserts
Remember Color Doesn’t Cost More
E-Mail Notification
• Custom E-Statement E-Mail Notification
Customize the Landing Page
Even Add Video
NEW IDEA – Pop Overs
• Also Great for Compliance Notifications
Act Three
Get Started! Put Your E-Statements to Work
Takeaway #1
• Inform recipients of your latest specials, promotions, and news BEFORE they even click to view their e-statement
– Custom E-Mail Notification
Takeaway #2
• Drive your account holders to your web site, online applications, and custom landing pages
– Banner Ads
– E-Statement Landing Page
Takeaway #3
• Customize statements by account type
– Onserts
– Reformatting
– Ideas:
• Business Accounts – Separate debits and credits, include check images,
• Accounts with Loans – Loan payment coupons
• Kids Accounts – Graphics, Font changes
Takeaway #4
• Educate account holders about personal finance
– Custom E-Mail Notification
– E-Statement Landing Page
– Videos
– Banner Ads
– Onserts (up to full page)
– Pop Overs
Takeaway #5
• Effectively cross-sell new products and services
– Banner Ads
– Onserts (up to full page)
Selective E-Statement Marketing
• Take statement marketing one step further.– Target which members receive certain banner ads or onserts.
Selectively display cross-sell campaigns by criteria you select such as:
• Account relationships• Account balances• Account activity• Geography• Demographics• Credit Score and other parmeters• ANY other conditions identifiable in your statement data• ANY other conditions identifiable in a separate control file.
Cross-Sell & Other Marketing Ideas
• CD Renewals
• Loan Payoffs
• Auto Loan Recapture
• HELOC Advance Requests
• Direct Deposit for Checking Accounts without these transactions
• MMA or CDs for high balance checking accounts
• Checking Account Switch Kit Forms
• Investment Services
• Home Equity/HELOC based on demographics
• Birthday Messages
• Prescreen Loan Campaigns (more on this later)
• AND MANY MORE!
Takeaway #6
• On-board new account holders beginning with their first statements
– Matrix-Based Onserts: Onboarding Campaign
– Series of statement onserts sent out over a period of months/quarters to cross-sell additional products and services to specific groups of account holders.
• Same concept as Matrix Mailings.
• Terrific solution for new account holders, mergers, new branch locations, etc.
• Ability to run multiple matrices at same time.
Matrix Ad Examples
Takeaway #7
• Turn unprofitable individuals into profitable relationships
– Matrix-Based Onserts: Re-boarding Campaign
– Same concept as onboarding but designed to attract additional relationships from existing account holders
Takeaway #8
• Refinance loans that your account holders have at other financial institutions
– Onserts: Full Page E-Statement Cover Letters
– Extend pre-approved offers of credit to account holders based on actual credit score and other credit data.
• Set criteria to identify recipients that will qualify for a loan offer based on your specific pre-screen requirements
• Direct from all of the three major credit bureaus
Pre-Screen Loan Campaigns
• Available for any pre-screen marketing campaigns:– Auto Loans– Mortgages– HELOCs– Auto and Mortgage Refinancing– Credit Cards
Potential Auto Loan Campaigns
• New Auto Loan– Fico Scores 680+– No auto loans with you– No more than one existing
auto loan elsewhere– No auto trades in past 24
months– Exclude auto lates/repo’s
• Loan Payoff– Fico Scores 640+– Exclude auto lates/repo’s– 2-3 years left on their loan– Minimum $XX savings on
monthly payment
• Lease Expirations– Fico Scores 640+ – Exclude auto lates/repo’s– 1-6 months left on their lease
Potential Mortgage Campaigns
• Mortgage Refi– Fico Scores 680+– Mortgage Balance $75K+ – No FHA/VA/reverse
mortgages– Age of loan over 18 months– Up to 95% LTV (higher LTV’s
will respond)– Payment savings over $100
per month
• First Time Homebuyers– Fico Sent to Renters– Qualified by FICO Score and
other credit parameters
• Specialty Mortgages– Potential eligibility for FHA or
VA loan– Jumbo loans– Presence of Fannie, Freddie,
construction, balloon, etc. – Qualified by FICO Score and
other credit parameters
Potential Home Equity Campaigns
• Debt Consolidation– Sent to Homeowners– Available equity over $xx,000– Revolving debt over $xx,000– Qualified by FICO Score and
other credit parameters
• HELOC– Sent to Homeowners– Available equity over $xx,000– No open home equity trades– Qualified by FICO Score and
other credit parameters
• Home Equity Refi(1st position)– Fico Scores 680-720 (or to
750 if possible)– Mortgage balance below
$150K– Less than 50% LTV– No 30-day lates in last 12
months
Potential Credit Card Campaigns
• Balance Transfers– Fico Scores 650-720– Existing retail/credit card
debt over $5,000– No 30-day lates in last 12
months– No bankruptcies– No collections in last 24
months
Pre-Screen Cover Letters
Act Four
Questions?Sid Haas
Vice President of Business DevelopmentDirect [email protected]
THANK YOU!