What American Express knows about email marketing that your credit union doesn’t

by. James Robert Lay

According to Harland Clarke’s Digital 2014 Financial Email Marketing Benchmark Report, banks and credit unions have collectively gathered just 37% of account holders’ email addresses after the second quarter of 2013.

So there is a great opportunity to increase the number of email addresses banks and credit unions collect.

But before the acquisition process to boost the number of email addresses begins, our recommendation is strategize first.

Because the ultimate value of an email address boils down to how well you utilize it as part of your digital marketing and lead generation efforts.

Are you still employing broadcast tactics with email marketing?

If you are collecting account holder emails and using traditional broadcast spray and pray tactics to send messages to these consumers, you may be doing more harm than good to your email lists.

We find this traditional marketing tactic to be employed frequently when leading a bank or credit union through a digital marketing and lead generation analysis, planning and recommendation engagement.

Perhaps this is because email marketing has taken a back seat to social media over the past few years and marketers continue to be distracted by the next shiny object.

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