Case Study: Spreading the Word with Xceed Financial CU

As the number of members who use online banking continues to skyrocket, the demand for more services grows. So what do you do when you’ve gone through major changes and want to let the world know? Xceed Financial Credit Union has the answer.

After re-vamping the way they do online banking, Xceed Financial created a marketing campaign that would let members know about each of the changes in a series they called, “Way to Bank!”

“Way to Bank!” gave members detailed instructions on how to use certain features, like a budget tracker called FinanceWorks, and let them know what was coming up in future emails. It was a mini-newsletter that turned out to be majorly successful.

Prior to launching the campaign, 25,000 members were using online banking.  Xceed Financial decided to send out one email every two weeks for five months to all 60,000+ members. They were hoping to do two things: First, to make sure every member knew about the new features and to gather their feedback about it. Then, Xceed Financial wanted to grow the number of members who used online banking by 5%.

By the end of the “Way to Bank!” email campaign, Xceed Financial saw an 8% increase in members who used online banking—exceeding their marketing goal by 60%.

Have you ever used an email campaign alert members about changes? What differences did you see between traditional mail and email as far as feedback goes?

To download the case study, click here: 2013XceedFinancialCaseStudy

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