Consumers Credit Union enlists Matrix Marketing from Baker Hill®
Marketing analytics program to drive more targeted, effective campaigns
CARMEL, IN (June 14, 2016) — Baker Hill, a leading provider of technology solutions for common loan origination, relationship management and smart data analytics, announced today that Oshtemo, Mich.- based Consumers Credit Union has selected its Matrix Marketing to improve the results of its marketing initiatives and increase cross-sell opportunities.
Consumers Credit Union was looking for a tool to improve product and member profitability and deliver stronger data analytics expertise. With Baker Hill’s Matrix Marketing, Consumers Credit Union receives sophisticated analytics to drive more highly targeted value generation for their members, create effective marketing segmentation and identify new sources of revenue. The program allows the credit union to track results and better understand how its marketing activities contribute to the institution’s profitability.
“We knew that to improve our marketing outcomes, we needed to rely more heavily on data analytics to identify and connect with the right audiences as well as to evaluate our efforts and investments,” said Kit Synder, President and CEO of Consumers Credit Union. “Baker Hill’s Matrix Marketing provides the structure we need to build and manage campaigns and ensure our employees have the data they need to more successfully cross-sell by offering the right product to the right member at the right time.”
Matrix Marketing leverages the power of Baker Hill’s advanced database integration engine and predictive modeling by combining the credit union databases, general ledger, demographics and other relevant third-party databases to create a single database with 360-degree view of each account, member, household and products. With predictive modeling such as next best product, product sequencing, top of wallets, profitability enhancement, new opportunity and loss prevention, financial institutions can create effective marketing campaigns with highest degree of confidence about their marketing return on investment. Matrix Marketing features tools such as program mail files and call lists and as well omni-channel, multimedia fulfillments which allow users to a create closed-loop marketing environment and easily generate ROI and response rate reports to measure activities at any given time.
“Whether a financial institution’s marketing activities are designed to improve profitability, reduce risk, boost loans and deposits, connect with millennials – or all of the above – they need sophisticated analytics as a foundation to optimize growth opportunities,” said Naseer Nasim, CEO of Baker Hill. “We are looking forward to taking Consumers Credit Union’s marketing to the next level with Baker Hill’s Matrix Marketing and partner in their rapid, future growth.”
About Baker Hill
Baker Hill is in the business of evolving loan origination by combining expertise in technology with expertise in banking. Built on decades of walking alongside banks and credit unions as they provide vital resources to their communities, Baker Hill NextGen® is a configurable, single platform SaaS solution for commercial, small business, consumer loan origination, and risk management that grows along with you as your business needs change. Baker Hill is lending evolved. For more information, visit bakerhill.com.
About Consumers Credit Union
Locally owned since 1951, Consumers Credit Union serves more than 72,000 members, simplifying banking through exceptional service, education and convenient technology. For nearly three decades, Consumers has averaged 18 percent annual growth and accumulated more than $700 million in assets, driving its expansion into Kalamazoo, Grand Rapids, Holland, South Haven and Coldwater. The community-chartered credit union serving all of lower Michigan has consistently earned annual customer satisfaction ratings of 98 percent and is currently recognized as one of West Michigan’s 101 Best of the Best Places to Work. For more information on Consumers Credit Union, visit www.consumerscu.org.