Filene Helps Credit Unions Operate Efficiently, Enhance Experience With Leeflet
MADISON, WI – Twenty credit unions will strive to improve operating efficiency, increase marketing effectiveness and enhance member experience as part of Filene Research Institute’s Leeflet pilot program.
The average credit union can spend $50,000/year on paper brochures. Powered by DigitalMailer, Leeflet helps credit unions eliminate these expenses while tracking utilization and communicating with members in the way they prefer, through a uniquely simple idea: delivering targeted brochures electronically.
“As credit unions are challenged to shrink operating expenses, they’re searching for cost reduction opportunities that don’t negatively impact members,” said Jason Milesko, Chief Impact Officer at Filene. “Paper brochures are largely ineffective and lack the mechanisms necessary to track campaigns. This pilot will help credit unions meet these challenges with electronic brochures as an alternative.”
During the pilot, credit unions will digitize brochures and other materials using Leeflet to:
- Enhance sales and marketing efforts while communicating with members in the way they prefer
- Improve operating efficiency (reducing brochure expenses by 75 percent)
- Quickly understand marketing campaign effectiveness through tracking of brochure utilization
Leeflet originated in Filene’s i3 program and stems from research suggesting that operating efficiently with low member impact is imperative for credit unions in ensuring long-term sustainability and building stronger usage and member loyalty. In initial testing, Smart Financial, Financial Center FCU and Fort Knox FCU experienced brochure open rates of more than 70 percent and click-through rates of more than 25 percent.
Credit unions can still sign up for the pilot at a discounted rate through April 30. The pilot runs from May 1 through September 30, 2013. For more information or to set up a customized demo, visit filene.org.
About Filene: Filene Research Institute is an independent, consumer finance think and do tank dedicated to scientific and thoughtful analysis about issues affecting the future of consumer finance, credit unions and cooperative finance. Filene is a 501(c)(3) not-for-profit organization. More than 1,500 members make the Institute’s research, innovation and impact programs possible.
DigitalMailer works with financial institutions to open their biggest branch – the virtual branch. Using its expertise and today’s technology, DigitalMailer helps organizations connect with customers in the online channel they prefer, driving consistent, managed messages that are optimized for communication, convenience, efficiency and promotion of product growth. To learn more, visit DigitalMailer’s website or call 866.994.4900.