One of the ways that your financial institution regularly communicates with all of your account holders is through account statements. Most will open and read their statements. This is a very powerful marketing tool many financial institutions don’t utilize to the fullest extent. Take advantage of your account statements, the postage is already paid for!
In today’s Webinar Wednesday episode, Sid Haas discusses ways LKCS can assist your company through the use of of Transpromo Statement Marketing.
Video Transcript (Highlights)
What is Transpromo Statement Marketing?
Transpromo is a compound expression formed from the words “transaction” and “promotional”. By adding relevant messages, you can piggyback targeted promotions and advertising onto existing transaction related documents, such as statements.
Transpromotional documents combine and data mining and business intelligence technology with variable data printing. TAKE ADVANTAGE OF “FREE” POSTAGE! Include targeted advertising with your statements
Statement Marketing Options
- Envelope Backprinting
- Selective Inserting
- Statement Ads/Onserts
- Matrix-Based Onsert Campaigns
- E-Statement Marketing
Try to open an envelope without seeing the back side. The back of the envelope is a billboard. Use this space. INEXPENSIVE: LKCS charges just over 1 cent per envelope. Choose from our stock designs each quarter, have LKCS custom-design an ad for you, or supply your own unique ad.
Take statement stuffers one step further. Target which members receive certain inserts. Selectively insert brochures, flyers and newsletters by criteria you select such as:
- Account relationships
- Account balances
- Account activity
- ANY other conditions identifiable in your statement data
- ANY other conditions identifiable in a separate control file.
- Statement Ads/Onserts:
LKCS print ads directly on your statements for pennies. Ads sent to all members OR we can target specific groups of members to receive one or more of these messages. You are no longer limited to short, text-only messages. Include graphics, logos, fonts, photos, etc. Even personalize the ads. Same technology enables loan payment coupons, rate grids, regulatory notices, etc. to be delivered on your statements. Design the ads yourself, select concepts from our online catalog, or have LKCS custom-design ads just for you.
- Statement Onserts
- Statement Reformatting
- Flexible Statement Design
- More Transpromo
- Statement Letters: Include personalized direct mail letters as the first page of your account statements. NO EXTRA POSTAGE!
- According to the DMA, personalized letters remain as the most effective direct mail method.
- Use for pre-approvals, referral campaigns, skip-a-pay, investment relationships, welcome new members, etc.
- Pre-Screen Cover Letters
One Time Use vs. Campaigns
All of the above examples were intended to support one promotion for one month. How else could you utilize transpromo statement marketing? Consider developing ongoing statement-based marketing campaigns The advantages:
- “Set it and forget it” (at least for a few months)
- Take advantage of special opportunities
- True one-to-one marketing
- Statement Campaigns
- New Account Holders
- CD Renewals
- Loan Payoffs
- Auto Loan Recapture
- Birthday Messages
- Loan Payment Coupons
- Kids / Teen / Senior Club
- New Mergers/Acquisitions
- New SEGs
- Cross-Sell Opportunities
- Promote E-Statements
Ongoing Campaign Examples:
Matrix Statement Campaigns
- Series of statement onserts sent out over a period of months/quarters to cross-sell additional products and services to specific groups of account holders.
- Same concept as Matrix Mailings.
- Terrific solution for new account holders, mergers, new branch locations, new SEGs, expanded field of membership, etc.
- Ability to run multiple matrices at same time.
Matrix Ad Examples
- Clearly the future for majority of account statements
- Including statement marketing is just as important All transpromo techniques can be incorporated into LKCS’ e-statements
How Much Can You Save?
E-STATEMENTS DELIVER REAL SAVINGS: You can expect to save at least 50 cents per e-statement user per month compared to the cost of printing and mailing a paper statement
Savings Example: 2,500 new e-statement users at $0.50 per month. Monthly Savings: $1,250.00 Annual Savings: $15,000 and that’s a recurring year-after-year savings.
Some LKCS clients have over 70% of account holders on e-statements!
Onserts On the E-Statement:
- Inserts Delivered with E-Statements
- Banner Ads: Link to web pages or PDFs. Appear for all account holders or selectively.
- NEW FEATURE: Each banner ad is flagged until the user clicks on it
- Color Doesn’t Cost More
- E-Statement Functionality
- Premium user experience
- 12, 18, 24 months, or longer of statement history
- Easy e-statement self-enrollment with full compliance
- Home banking single sign-on, multifactor login authentication, or both
- Simple management and powerful reporting
- access all member statements, activity, users, e-mail bounces, etc.
- View multiple document types and multiple accounts
- Mobile responsive, even optional text message notifications
- Advanced permissions: restricted account numbers, user roles, auditor access
The integrity of your statement data is extremely important to LKCS. We have numerous systems in place to protect the privacy of your account holders’ financial information.
Incredible Accuracy and Security
- World-Class Customer Service
- Our promise: LKCS will not be another vendor you love to hate.
- 98% customer satisfaction in last survey
- Call or e-mail and you will get a response; best communication in the industry
- Fast answers and issue resolution
We really do go the extra mile; no request is unreasonable. We make our clients look good!