How automated emails are changing the way financial institutions market

We’ve heard over and over that onboarding is a huge asset in the financial world. When someone opens an account, it’s just the beginning of a relationship that can see them through buying a house, starting college funds, planning for retirement, and more.

That’s why it’s so important to start communication with account holders right away. Onboarding is the perfect opportunity to introduce your financial institution and let people know what kind of products you offer…but how do you do it without flooding their inbox? The solution is marketing automation.

Marketing automation software can automatically trigger the right email at the right time to new subscribers. After the initial welcome email has been delivered, subsequent emails are sent at specified intervals based on real-time subscriber data. Here are a few ways credit unions have successfully used marketing automation:

Targeted promotions

Let’s say you send an automated welcome email to new members and set up a decision tree to automatically send follow-up emails promoting different products every 30 days over the next several months.

You can also segment emails by certain demographics like age, location, and language. When GE Credit Union used this method to reach two targeted audiences, they saw open rates soar to 43%.



Space Coast Credit Union used marketing automation to cross-sell loans and saw some amazing results. They began by sending out a welcome email, followed up with an email about member rewards, and then sent emails with information about credit cards, auto loans, and mortgages.

Using this method, they saw open rates of almost 40% and increased the number of monthly cross-sold loans by 18%.

Amping up survey results

When combined with surveys, automated emails can help increase the overall response to a survey over a period of time by automating delivery to recipients that didn’t respond to the initial survey. That’s what First Alliance Credit Union did, and their member feedback resulted in a huge awareness boost for the financial institution.

Included in each survey was an option for members to leave an open-ended comment and a request for the members consent to use their comments for marketing purposes. Ultimately, 76% of all survey responders gave their consent to the credit union.

They also included a link to their Facebook page to rate and review First Alliance. That clever move resulted in a 107% increase in reviews.

If you’re not already using marketing paths and marketing automation, or if you need help implementing these ideas, contact DocuMatix and we can help you figure out a way to make your email marketing even more effective!


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