Project Blueprints Work

By Margie Church, copywriter/editor

One of our best practices is to gain understanding and agreement from the client before the project begins. A project blueprint is a simple tool we consistently use to achieve that. 

After a project launch call, everything we've heard in that conversation gets sorted out and written into the blueprint template. Then it's sent to the client. I've sometimes been accused of being too thorough. I've had managers squint at my project blueprints and ask for the Reader's Digest version. And I've had some tell me I was making the reports they wrote look bad. The latter group always makes me laugh.

Gotta-have-it Information

Your blueprint doesn't have to be complicated, but it must have the salient points to get your project on track and keep it there. Here's a short list of basics:

•  Objective
• Audience
• Budget
• Offer and/or primary message
• Customer benefit
• Call to action. I can't stress enough the importance of telling people what to do. It's often forgotten, along with adequate contact information. 
•  Due date

Pinpoint is a creative resource, so we also ask our credit union clients questions such as these:

• What is the overall tone of the piece? A phrase such as cutting-edge will have an explanation of what the client describes as cutting-edge.

•  What are the supporting copy points?

• There will be several questions about design, including color and graphical preferences.

We add and subtract questions depending on the situation. The first time we speak with a new client, we'll spend all the time necessary learning about their credit union. We want to understand its membership demographics, and branding strategies. 

We seek the client's opinions on all kinds of subjects, including what's going to work and what  will get panned by management. We're interested in helping them be successful every time and in-depth questions help us achieve that goal. By the end of the conversation, our client knows their business is important to us.

If you're an internal marketing or communications manager, you can use a project blueprint to get agreement from your staff before you start working with your creative resources, aka spend money. You're much likelier to deliver on time and on budget by using a document such as this. It's also an excellent place to look for answers if things go awry. 

Creative blueprints work smoothly for Pinpoint Direct Marketing's clients. Do you use creative blueprints at your CU? How have they been received? Are they a crucial element in your planning or an after-thought? Share your experiences so we can learn from each other.

Cross-media strategies. Gotta have 'em.

By Margie Church, Copywriter/Editor

Many times I've studied my marketing budget and compared it to my sales objectives. And groaned. How could I possibly achieve the aggressive sales goals with this tiny budget? I might take a five-minute trip to La-La Land where management would agree to a lower forecast, but reality awaited my return. Whether our budgets are tight or not, we all must be good stewards of the amount we're given. Creative, careful selection of the right cross-media tools is the only way to make the most of the budget and achieve objectives

Start Right: Data Modeling

Data modeling is the difference between buckshot and arrows. Using data modeling helps ensure the recipient is highly qualified and/or highly likely to respond the way you want. Append MCIF or Data Systems information to qualify recipients and you'll produce fewer pieces, and of those, fewer will be wasted efforts. This saves money and improves your ROI.

Give a Campaign Depth

Once you've paid for your design concept and copywriting for your primary piece, it's very inexpensive to resize logos, layouts, and shorten copy. The graphic and headline can easily be turned into all kinds of print and electronic banners. A letter can be remodeled into highlights for an ad, statement stuffer, or email for follow-up. Tweet about your newest campaign.  Put a link on your Facebook page, blog about it, and don't forget your newsletter.

Switching Things Up or Same 'Ol, Same 'Ol?

As a marketer, we sometimes do things the same way because it's a habit. When our jobs are busy, it's fast. We understand how to do the work. But putting ourselves in the members' shoes makes us look at their needs and reminds us we want to keep members for life. We must try to keep up with these communications trends and find ways to use them to appeal to our current customers and the ones we're trying to acquire.

Communications tools are changing. FAST.  Email campaigns remain highly effective. PURLs (personalized URLs) and GURLs (generalized URLs) for instant responses are very convenient. QR (quick response) Codes are the newest way to marry print and electronic communications. (If you need more information about what QR Codes are, click here.) 

Some credit unions say their members don't like email marketing, or electronic response tools. If that's true, then why is mobile banking gaining such momentum and acceptance?  In 2010, approximately 17.8 million customers used mobile banking, according to data from TowerGroup, a financial services research firm. That figure is expected to jump to 27.4 million customers in 2011. By 2013, it's predicted that 53.1 million consumers will adopt mobile banking. 

Startling isn't it? What's driving the high adoption rate? According to TowerGroup, it can be attributed to:

1. High smartphone penetration (wireless subscribers represent a mobile phone penetration of 90 percent of adults age 20 or older). It's not only the young crowd with these tools in their hands. It's also your core market, your most profitable segment.
   
   Consider that in the second quarter of 2010, smartphones represented 61.6 million (19%) of the 325.6 million mobile phones sold. This represents a sales increase of over 50% on the same time period in 2009. In addition, the Coda Research Consultancy predicts global smartphone sales of some 2.5 billion over the 2010-2015 period. This also suggests mobile Internet use via smartphones will increase 50 fold by the end of that same period.

2. Changing banking preferences. ATMs and online banking are popular self-service models of banking. Mobile banking goes even further to provide access anytime, anywhere. Do you know any credit union members who don't appreciate convenience services?
   
   
3. Faster networks, improved operating systems, and better interfaces add to the appeal of mobile banking services. Communications providers bombard consumers with the allure of high speed and reliable, time-saving connectivity. And it's cool. Judging by the number of smartphone sales and the ever-increasing speed of Internet connections, these providers are winning.

Repeated, Consistent Exposures are Crucial

Depending on which media you choose and your frequency, you might achieve awareness of your message in five to seven exposures. People might take action after 11 exposures. A combination of scheduling and media plays on the channel strengths, impacts your audience more effectively, and brings the highest response.

Confused? Let's say you sent a letter offering a fantastic auto loan rate. On the way through town, the member saw a billboard ad with the low rate. The next day, your CU's scrolling banner touted it again. A few days later, they received an email with the same fantastic offer.  In this scenario, you've achieved multiple impressions in different channels. This is likely to be more memorable than if the member had simply gotten three letters/postcards from you over the course of a few weeks or heard the same three radio commercials during the week.

Your budgets may be tight, but by slicing and dicing the delivery tools, you can make your campaign look bigger and you are likely to deliver a better ROI to your Board. Cross-media marketing is the way to go.

Think about it and then talk to us. We understand cross-media marketing and can help you with budget-friendly solutions.

Grabbing Prime Targets

By Margie Church, Copywriter/Editor

Cost efficient, profitable marketing begins with understanding who your core customers are. That shouldn't be surprising news, but sometimes when things aren't working the way we expect, or the market feels more volatile, we need to reflect. Especially at the start of a new year, a fresh reminder provides an opportunity to check your thinking before too much time, money, and effort are spent on marketing that may deliver less than stellar results.

Reading your original charter should provide good information about your core customers. We all know that over time, credit unions, like the members they serve, change.  Unforeseen growth opportunities arise. These issues can distract from your purpose, and cause frustration and wasted marketing expense. Using data modeling is the efficient way to refocus.

Honing in with Data Modeling

Every now and then, we'll ask a client to define their core market and they can't do it. You may be surprised to learn many businesses never take the time or make the investment to succinctly define their most profitable customer. Having this information helps ensure you're protecting your core, and spending appropriately for future growth.

Marketing Customer Information File (MCIF) data is a fantastic tool that many credit unions use. If your CU is one of them, we applaud you. By appending MCIF data, you'll get a very robust description of your optimal member. To get there, choose a combination of markers such as: 

• Credit score
• Number of years of membership
• Products currently used
• Products/services previously used
• Months before loan is satisfied
• Deposits/investments
• Proximity to branch
• Property taxes
• Age
• Gender
• Marital status
• Homeownership status
• Profession
• Income

Your Data Processing (DP) system can also provide some reliable insights to who your best customers are. If you're using only your DP system, we recommend making a firm commitment to mine this information for common traits among your members and organize the information for direct marketing.

Once you have a clear definition of your most profitable customer, you can design communications that appeal specifically to their needs. We believe that relevant, personal, and timely communications will boost your success every day of the week. The recipient won't feel they're receiving junk mail or that you're out of touch with what's going on in their lives.  You'll have greater confidence and gain credibility that the marketing you do will be more successful than a program based on assumptions that may be outdated or off base.

Three Components of a Target Market

1.       Your core or primary market already has a strong affinity to your credit union's services. Consequently, appealing to them is the least expensive, easiest, and most profitable.  By gleaning key attributes of this group, you'll be able to tell whether a second mortgage, or a second home could be in their sights. Are they trading in the sports car for a family vehicle or downsizing completely? You'll know whether they are approaching their peak of profitability with your CU, or moving out of it. You've got the information needed to provide timely, relevant, and personal communications to retain their membership and business.

2.       The secondary target has many of the traits of the core target. These secondary members may be younger, single, and on the leading edge of financial stability and need. In time, and with focused effort, these people can mature into the profile of a core member. By staying true to your data-driven efforts, you'll know when they move into that sweet spot of profitability. Formulate an acquisition strategy promoting products and services they've never tried.

3.       The tertiary target matches the fewest markers in your primary or secondary membership profile. Pursuing them isn't a complete shot in the dark, but this reactionary segment is easily the most expensive to reach and the hardest to hold on to. They may join through persuasive advertising, including word of mouth (testimonials), and enticing offers. They're likely to take advantage of an offer only if you happen to get their attention at the precise moment they need it. They may be shopping for the best deal on a vehicle purchase, or become fed up with their current financial service provider. Your goal is to create awareness, so your CU's name floats to top-of-mind at the magical moment. 

A prospecting strategy is needed in the open market to attract those who might be well-served by your current offer. By keeping in regular contact with those who snap them up, you can urge these people into the secondary group. It'll take time. How successfully you communicate with them during the first six months of membership is likely to determine whether you've got a member for life, or a dormant account waiting to happen.

Pinpoint Direct Marketing believes highest success is achieved when retention, acquisition, and prospect offers are present in every campaign.  If you've been investing money and effort in marketing, with poor returns, I challenge you to examine who you're marketing to and why.

We'd enjoy hearing whether you use data in your marketing efforts and how it's affected your marketing results. What do you recommend?

Time to Reinvent Your Brand?

By Margie Church, Copywriter/Editor
Pinpoint Direct Marketing


The economy has taken credit unions and banks to the mat, leaving some of them barely breathing for months. And now the oxygen mask is on—perhaps not turned on full blast, but at a steadier flow than the past few years. So, the opportunity to revitalize your credit union is here. Will it be business as usual or will you seize the chance to reach out to prospects who've had their fill of banks' exorbitant fees and hiked-up interest rates without provocation? What about to members who've postponed vehicle and home purchases, and refinancing because of uncertain jobs? The scenarios are countless as the chances to prove that your not-for-profit status works in their favor, not just yours.

A Couple of Strategies

With people feeling beat up and shaky because of economic woes, how about giving your credit union a face? A warm smile and a handshake should be part of your dress code.

In print, in person, and on the Web, make me feel like you care about my personal financial wellbeing. Convince me you can help me get out of a mess the economy might have unwittingly dragged me into. Help me see your staff has the compassion and the experience to help me prop up my sagging investments and start looking forward to retirement a little more positively.

It's never been more important to educate the public about the real benefits of credit union membership. The capitalistic face of banks has been well-publicized, yet many people continue doing business with them because they don't know you're different. Give me rock-solid benefits that demonstrate I'm better off at a credit union and convince me it's easy to make the financial switch.

Dispel the notion that credit unions are an exclusive club. We know nothing could be further from the truth, but the fact continues to be a well-kept secret. When was the last time you did a myth-busting prospecting campaign to new movers to come in and learn the secret handshake?

2011 Planning

Budgets and plans. Goals and numbers. They're floating around the office and our heads. We want to help you get back on track, too. We know your budgets have been squeezed and maybe you've lost some staff and your personal workload has increased. If you're looking for an affordable, efficient way to approach 2011 and deliver results, it's time to hunker down with a creative group that can get you there. Pinpoint Direct Marketing. Turnkey service or ala carte. From concept through production. We're Communicating to Markets of One. We want to communicate for you.

Let's get a jump on the competition together. Contact Kerry Blom, Pinpoint Direct Marketing Business Account Development, kblom@pdmkt.com