Transpromo Communications – Engage with your best members…the one’s you already have
Marketing is full of concepts and acronyms that can confound even the most savvy business professionals. Concepts like “Transactional Marketing” and “Relationship Management” all attempt to provide clear direction while often clouding the landscape instead. But for credit unions, the real test of marketing and member communications is demonstrated by the increased ability to sign more loans, secure new deposits, and extend the complete breadth of your services to your members. One way to do that is by embracing the concept of “Transpromo” communications.
What is “Transpromo”
Transpromotional communications, or “Transpromo,” is the concept of customizing common documents like bills, statements, and other member correspondence with personalized messaging aimed at compelling existing customers to buy more products. Marketing experts praise the up-sell and cross-sell virtues of this approach. By including relevant and personalized marketing content your monthly member statements, for example, can rise above the din of competitive messages and transform into a beneficial marketing edge.
Transpromo marketing takes advantage of the fact that member documents get attention – for a few seconds at least – as opposed to the stacks of junk mail or unsolicited e-mail that clutter mailboxes and in-boxes each day. Indeed, you create and send thousands of member documents every month; why not take advantage of this opportunity? Include an offer for a pre-approved car loan, for example; or offer select members a discounted rate for mortgage refinance. Whenever you communicate with your members you have a unique opportunity to expand and extend each “appointment” to include a more deeply relevant and more satisfying customer experience that, ultimately, is more satisfying to your bottom line as well.
Online Member Communications
Targeted transpromo techniques are tailor-made for online member communications. After all, members are only a mouse-click away from additional products and services, something that is simply not possible in a paper-only world. Credit unions with a clear strategy to transition from paper-based communication to online member correspondence will reap the reward. Indeed, 52% of the world’s population is under 30-years-old and 80% of customers are more likely to bank online vs. visiting a branch in person. By incorporating offline marketing business intelligence with online channels credit unions can immediately begin to capture the benefits of a connected world.
Next Steps with Transpromo
The key to success with Transpromo marketing is choosing the right platforms and partners. Software-as-a-service models have evolved to allow credit unions to more quickly and easily leverage the value of their efforts. Cloud-based managed service providers, such as OMI, plug in and connect to the existing systems. This touch-free integration has changed the landscape of modern transpromo communications; after of years of being hampered by print-burdened systems and programming, credit unions are now free to take advantage of Transpromo without the complexities and costs.
Brad Banyas is CEO of OMI, a leading Managed Communication Service Provider that assists organizations in transitioning print communications to the paperless world. OMI products, Statement2web® and TransXAction, ™ provide a single point for creating, managing, and measuring customer communications of all kinds. OMI enables business-changing strategies that utilize daily, weekly and monthly customer communications as focal points to reduce cost, increase revenue, improve brand loyalty and boost customer satisfaction. Visit www.omi.co.
