A letter to credit unions: How to kick start your digital transformation strategy
Your CU was founded to serve your members at physical branch locations, and year after year, you do with superior member service and the best rates in town. But today, you are starting to recognize the need for digital enhancements to your member services.
To reimagine your members’ experience you have to think outside the box (or branch). Digital transformation doesn’t happen overnight so here are a few tips that will help you take steps in the right direction:
1. Get text savvy
In a mobile world getting a text messaging strategy in place helps you reach members anywhere in their membership lifecycle. Considering that 85% of Baby Boomers own a cell phone, it’s not just millennials who prefer to connect and receive promotions from their CU via text. With an open rate of 3 minutes, this makes text the most used form of communication among CU members today.
2. Emphasize the power of email
Don’t let a contemporary text messaging strategy override another effective member communication tool: Email. According to stats, 99% of your member are checking their email up to 20 times per day. That’s a lot of opportunities for you to insert your brand, messaging and products for your members.
3. Stay competitive with video
Did you know that by 2020, you can expect 82% of Internet content to be video based? With that in mind, your competitor isn’t a big bank; your competition is whatever tutorial, advertisement or promotion is grabbing your member’s attention. Enhance your members’ digital experience and get measurable data analytics with an uncomplicated, personalized video solution that carries across multiple platforms (email, text and web).
A digital transformation strategy takes your market position beyond low fees and friendly services and increases your market share. Digital transformation helps you meet your member where they are and gives you a way to show them the next product or service they didn’t know they needed yet.
Click here to learn how we can help you integrate member-centric solutions into your digital transformation strategy. We promise to deliver personalized digital solutions that enrich the one on one relationships you have with each of your members.
