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Many of the ideas in this issue require executive approval, capital budgeting, I/S negotiations, and so on. If you are looking for ways to boost traffic in 2000, within your existing budgets, here are some low-cost ideas we’ve dubbed “50/50 projects,” ones that can be completed within 50 days for less than $50,000 and usually without any extensive internal systems work.
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Project |
Comments |
Who Can Build It |
Supports |
| 1. | Statement aggregation | Drop a private-branded outsourced statement aggregation function behind online banking password protection; users will have more confidence in the idea knowing that you are monitoring access | Yodlee, S1/VerticalOne, Corillian, Digital Insight, Fiserv, PayTrust | account retention, cross sales |
| 2. | Financial datebook with bill pay reminders | User enters billing due dates to trigger reminders; this service generates Web traffic and positions you well for bill presentment. | calendar.com, when.com, etc. | bill payment, traffic building |
| 3. | Searchable merchant directory | List all local merchants, especially those sending billing statements; include customer service telephone numbers, hours, email addresses, Web links, and payment options; a good first step for electronic bill presentment. | intern or contractor | bill payment, small business banking |
| 4. | Financial privacy center | Build an educational area where users can read about safeguarding their privacy and avoid identity theft, include credit bureau links and info | QSpace (for credit bureau purchase); intern or contractor | traffic building |
| 5. | Personal VIP ebankers | Assign e-reps to your best customers; equip the reps with email, after-hours capability from home, personal Web pages, and so on. | in-house | retention, cross sales |
| 6. | Joint marketing program | Find a Web site that appeals to your users and develop a joint promotional campaign; ideally the relationship showcases more than just your ability to issue press releases; for example, we like CompuBank’s deal with MP3.com allowing payments to flow into artist’s accounts at the bank. | your partner | brand |
| 7. | Emailed information alerts | Create a useful email list that customers and non-customers can sign up for to receive SHORT periodic alerts with valuable info. | Web developer; in-house; intern | brand; traffic building |
| 8. | Rate comparisons | If you pay rates higher than national averages, let users see how much they can earn/save with your products by showing how they compare with national averages. | Bank Rate Monitor; BanxQuote; in-house | deposit products |
| 9. | Relocation database | Build a database for newcomers to your area with school listings, rental agencies, Realtors, etc.; make sure your meta-tags are recognized in searches of “yourtown” plus “moving.” | intern or contractor | new business development |
| 10. | Community calendar/database | Anything from a simple calendar of major events in town to a detailed and searchable database. | Web programmer or skilled intern | PR, Web traffic |
| 11. | Usage-based sweepstakes | Enter users into a sweeps each time they conduct specific transactions: pay a bill, check rates, transfer funds, refer a friend, and so on. | in-house; sweepstakes vendors | any target product |
Source: Online Banking Report, 6/00
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