In the world of credit union marketing, it may often seem like there are more ways to connect with members than you ever thought possible. It’s easy to get lost in some of the technicalities of all of the ways to connect with members, putting options such as direct mail aside, labelling it as unoriginal and not a powerful tool to connect with your members.
Heritage Valley FCU, a $75 M in assets credit union based out of York, PA, had tried everything to raise awareness for their first-time mortgage program. This case study details how the credit union worked successfully with Synergent to develop and execute a targeted direct mail campaign that yielded exciting results.
“Despite countless email campaigns, branch signage, and flyers there was still a lack of awareness amongst our membership for the program,” said Tara Kochansky. Teaming up with Synergent’s Direct Marketing Services, a direct mailer was devised, with results that far exceeded their expectations. The short two month campaign resulted in 10 new loans totaling $1,373,844.00.
Direct mail has been around for decades, but Doug MacDonald, Vice President of Synergent Direct Marketing Services said he’s seen it come alive: “I’ve heard a lot that direct mail is dead or it doesn’t work, but we’ve seen just the opposite,” MacDonald said. “We’ve seen direct mail performing very well when it is paired with target marketing and personalization. When you personalize the direct marketing pieces, members feel they are part of the credit union. We have seen personalization outpace standard direct marketing pieces without any personalization. There is a lot of research out there on the effectiveness of personalization.”
The success of Heritage Valley FCU’s mortgage campaign was recorded in an article by the Credit Union Times, noting that big brands, including Google, regularly use “snail mail marketing.”