Archive for category Financial
Curtis 1000 Gives Credit Union Fresh
New Look at Marketing to Members
Members First Credit Union of Manchester, New Hampshire, has three branches and approximately 13,000 members. The demographics of the credit union membership are mostly middleclass, highly blue collar, with moderate incomes. Members First was looking to put together their yearly marketing strategy. To help them with this process, the Curtis 1000 MarketWise Group ran a geodatabase demographic report and built an executive summary of the findings. Members First was eager to incorporate this information into their plan, but they also needed a better idea of what their current members thought of the credit union.
Curtis 1000 helped the credit union put together a customer satisfaction survey. The multi-channel campaign consisted of a direct mail postcard with a personalized URL (PURL), printed surveys for inside the branches, and signage to promote the survey. The goal of the survey was to define how Members First should position themselves throughout the upcoming year, what products and services to promote, and any changes that should be made inside the branch locations. The postcard and corresponding PURL survey were divided into two distinct age segments: 18 to 39 and 40 plus. Both groups saw the same message, but the images changed to better fit the target audience in each age segment. The postcard clearly displayed the PURL and the offer on the front and the back of the postcard for high visibility and response rate. In addition to the postcard/PURL being sent to all their members, signage was posted at each branch location promoting the survey and offer. The members had two options to complete the survey —visiting their PURL or completing a printed copy at their local branch. In return for completing the survey, the credit union’s members would be entered in a drawing to win $1,000 toward their homeheating expense (or gas card if they were not a homeowner).
The survey was active for two months. There were 702 visits to the PURL survey (5.1% visit rate) and 645 completed responses to the survey (4.7%). Based on the two age demographic segments, 152 (24%) of the responses were from the 18-39 age group and 493 (76%) responses were from the 40+ group.
Marcell Cruz, Director of Sales and Marketing for Members First Credit Union, says, “Working with Curtis 1000 has given our credit union a new, fresh look on how we should be marketing to our members to bring in the business.”