Strategy and Execution:

Thirty-eight percent of Americans perform 50% or more of their banking online and the interest is growing. Those customers not only have come to realize that the Net won't bite you; more and more of them apparently have decided that the convenience of handling financial chores online is worth the risk of sending their banking information through cyberspace.

Research published by Red Herring, working with marketing firm Ipsos-Reid, found that more than 28 million American adults (or about one in five who have bank accounts) now do at least some of their banking online.

Ok, so we covered what we already know. The internet has arrived and it is here to stay. So you have met this new opportunity to better service your customer by developing an improved online customer experience. Now what?

Offering on-line banking services is only part of the equation for success. Although “location, location, location” may reign supreme in the retail world, when it comes to providing internet solutions, it’s “promotion, promotion, promotion”. In short, having a product or service is only the beginning; it is on the other side of promotion where you and your members experience the benefits of those efforts/investments.

Mailers, e-mail marketing, and newsletters are all very effective ways to continue to communicate the services that you offer your members online, but each of those have a limited life and therefore a limited opportunity to communicate for you. Conversely, promotional merchandise like those featured in this campaign (see below) can continue to communicate for you ongoing. In addition, this is virtually the only form of marketing or advertising that delivers value to the recipient beyond the message. How do you distribute these items for maximum impact? There are a variety of methods:

• A magnet can be combined with a mailer
• An e-mail can encourage a member to sign-up online to receive a free custom mouse pad
• Your staff can distribute them during member visits as a way to not only raise awareness, but to improve relations and a cost effective gift like the monitor calendar is a great item to consider.

Results:

Raise awareness with your members of your institutions on-line services.