Want Member Loyalty or Profitability?

My Marketing Strategy Nicolette Lemmon, President & Founder Seems that it may be time to review the definition of what customer or member loyalty really means to your organization. For example, many credit unions have created points or other loyalty programs to try and reward members for their long-standing business. But does that work in today’s economy? Are loyalty or rewards points meant to keep a member relationship active and spur word of mouth? An interesting article made me scrutinize …

In a difficult economy, just what are CEOs looking for?

My Marketing Strategy Nicolette Lemmon, President & Founder At the risk of sounding Pollyanna, these are times of opportunity for those with focus and strategy. For CEOs that are looking for increases in revenues to enhance profitability to pay back the insurance fund, the key is to consider the value of every member. In the economy, the real value of profitable members is critical to monitor because they have economically voted that they trust your Credit Union. This has two …

Retaining Profitable Member Households is Key Except…

My Analytical Side Denny Koepke, Vice President As an MCIF analyst, I am sometimes pegged as “just a numbers guy.” However, like Nicolette commented in her blog post, Balancing Analysis with Losing Control, numbers can be misleading. It is wise to proceed with caution when analyzing “the numbers.” Take for example, segmenting the most “profitable” members in your database. Especially during the current economic climate, this may be a prudent approach. While I will agree with our marketing strategists at …