A central, single source of truth for data at Texas Trust Credit Union ($1.6B, Arlington, TX) allows marketers to target members on a granular level. It also has revealed surprising new truths.
“We thought we knew our membership, but we didn’t,” says Ron Smith, who took the new role of chief growth officer in 2020, after serving as senior vice president of sales and marketing at the Dallas cooperative. “Instead, we were using what we call ‘ITIF’ thinking, meaning ‘I think, I feel.’”
It’s understandable that veterans like Smith, who has played a key integration role for mergers during his 14 years at Texas Trust, would think they had a pretty good handle on the makeup of their membership.
But it wasn’t until Texas Trust centralized analytics using a combination of the Trellance data analytics platform, psychographics, and the Power BI dashboard tools a couple of years ago that leaders there realized how wrong they were.
continue reading »