Press
CUNA Marketing & Business Development Council discusses mastering metrics
MADISON, WI (November 25, 2013) — A new white paper from the CUNA Marketing & Business Development Council, Mastering Metrics: Measure What Matters in Marketing and Business Development makes the case for the development and use of objective measurements that quantify the contribution of marketing to the credit union’s bottom line and achievement of its strategic goals.
The paper sets out a system for planning on which metrics to measure, what information is needed to make those metrics actionable inside and outside the marketing department, and how to work with colleagues in other departments to make those metrics as useful as possible.
Calculations for key metrics are presented, including return on marketing investment, wallet share, return on new member acquisition, lift, pull-through, net member growth, frontline sales, business development reporting, and high-level measures of quality of service and status as members’ primary financial institution such as the Referral Performance Score, a rather new measurement.
Three case studies from marketing and business development departments provide real-life examples of how marketers develop and share metrics with their boards, executive teams, and staff members.
CUNA Council members are eligible to receive complimentary copies of this, and over 300 other white papers; non-Council members may purchase white papers for $50 per copy.
The paper is available online in the white paper section of www.cunacouncils.org.
Press may contact Natalie Sherry at nsherry@cuna.coop for a copy of the white paper.
About CUNA Marketing and Business Development Council
The CUNA Marketing and Business Development Council is a member-led organization comprised of 1,000+ credit union professionals across the United States. The Council strives to provide superior educational and networking opportunities to help its members be recognized in the credit union industry as the premier experts in credit union marketing, business development, and related disciplines. The CUNA Marketing & Business Development Council is one of the six organizations that make up the CUNA Councils, a network of more than 5,800 credit union professionals. For more information, visit www.cunamarketingcouncil.org or www.cunacouncils.org.