Taking a Marketing Deep Dive into Data – 3 Must Have Reports
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AA018433For most marketers, looking at “the numbers” is not their favorite part of their jobs!  Having learned through the years how often I had to justify marketing expenditures and strategies to CFOs and CEOs, “the numbers” became my friends!

Here are three reports that provide the initial insights:

  1. What do we have to work with this year? Report: Distribution of Members by Age Segment, overlaying loans and deposit dollars by the age segments. This report offers insights into what segments are dominating your credit union and its loan/deposit dollars.Members Age Distribution
  2. Who are we attracting and for what level of business over the past year? Report: Distribution of New Members by Age Segment (who joined over the past year), overlaying loans and deposit dollars by age segment. This report offers insights into what prospective members are looking for.New Member Age Distribution
  3. Where are opportunities for adding revenue? Report: Distribution of Non-Interest Income By Source for the last year.

Here is what is so helpful with these three reports: Initially, you need to know what you have as your base to build upon.  This can then be reviewed each quarter to see changes in loans and deposits.

The new member data enables you to see who you really need to attract to bring in the necessary loans and deposits to reach goals. Again, this can be tracked quarterly to see if you are making strides in the age segments you have identified need attention.  Determining what type of accounts New Members open is often indicative of what prospective members are interested in.

And, the review of non-interest income is an incredibly important part of adding revenue to the bottom line through partners and it tends to not get marketing attention. Yet, the ability to bring in revenue from more than just loans is becoming even more important with the continued low rate environment.

Let us help you craft your marketing strategy to achieve your goals this year! Email us at 7solutions@lemmontree.com or call us at 480.967.1405.

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