Since implementing the program, Lebanon FCU has seen better retention of
their most profitable members, and better, more targeted acquisition of
profitable new accounts. The Credit Union reviews their monthly campaign
tracking report which details all active campaigns as well as maintaining an
ongoing ROI calculation for individual campaigns and the Intarsia MRM
investment overall. In the most recent nine month period,
Lebanon FCU committed to a formal marketing program to reach the following desired business objectives: 1) new member acquisition, 2) cross sell focus, 3) improved member retention, 4) increased loan volume, and 5) successful launch of their newest branch location. To support these objectives, the Credit Union purchased SEDONA's Intarsia Member Relationship Management technology.
At the same time, the Credit Union realized they lacked the internal resources to successfully implement the technology. The Credit Union decided to outsource with CU ink's Marketing Services, which provided a cost effective solution and an immediate ROI.
Lebanon FCU got a thorough understanding of the database, total number of members, households, accounts, and balances at the product level to verify back to the core system. CU ink performed a thorough data analysis to determine marketing strategies that would provide an immediate return on investment. Key factors included service combinations, member age ranges, single service households, geographic penetration, and profitability trends. Next, CU ink and Lebanon FCU formulated a plan of action to take full advantage of the Intarsia system including various marketing campaigns, product promotions, and a branch opening.
At the start of a campaign, materials are uploaded into Intarsia; lists of members are "tagged" within Intarsia so that credit union employees can see active campaigns and materials that members receive. While a campaign is underway, tracking is in place to automatically monitor responses and dollars generated. At the conclusion, the Credit Union evaluates results and overall ROI.
SEDONA President and CEO
About SEDONA Corporation
SEDONA(R) Corporation (OTC Bulletin Board: SDNA) provides multi-vertical Customer/Member Relationship Management (CRM/MRM) solutions and services specifically tailored to the financial services market. SEDONA's CRM/MRM solution, Intarsia(R), is designed and priced to support and meet the needs of the multiple lines of business of small-to-midsize banks and credit unions. Intarsia provides the entire financial services institution with a complete and accurate view of their customers' and prospects' relationships and interactions. By utilizing SEDONA's CRM/MRM solution and services, SEDONA's clients effectively identify, acquire, foster, and retain loyal, profitable customers. For additional information, visit the SEDONA web site at www.sedonacorp.com or call 1-800-815-3307.
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "anticipates," "plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
SEDONA(R) and Intarsia(R) are registered trademarks of SEDONA Corporation. All other trade names are the property of their respective owners. This press release and prior releases are available on the SEDONA Corporation web site at www.sedonacorp.com.
SOURCE SEDONA Corporation