| By Jim Bruene on February 4, 2003 7:00 PM | Comments (0) |
Courtesy of Digital Mailer
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Have a Strategy: It’s an ongoing process
to educate and enroll your customers in
e-statements. You should have a strategy that:
- Communicates that e-statements are FREE, convenient, FREE, secure, and FREE
- Explains the overlap in paper and
e-statements (customers must be weaned) - Outlines e-statement archive plans:
- How long will they remain online?
- How can a customer get a copy of an old statement after that time period?
- Offers special promotions exclusively for e-statement users
- Has the ability to convert back to paper if not 100% satisfied
- Addresses security and privacy concern
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Share the Benefits: Tell your customers what’s in it for them! Too many institutions seem to believe that customers will opt-in because of the benefits to society (save trees) or the benefits to the institution (save costs). The fact is that people make decisions from a selfish perspective – What’s in it for me? If you don’t communicate a good answer to this question, adoption will suffer.
| 3 |
Multi-Media Approach: How many different ways do you disseminate information to customers? Each and every vehicle should be used to promote your e-statement campaign including, envelope teaser copy, statement stuffers, Website, email, online banking banners/links, postcards, deposit slips, ATM receipts, and so on. Keep in mind that each customer who signs up saves your institution $0.50 or more per month.
| 4 |
Utilize Every Point of Contact for Email Capture: Every piece of correspondence and every contact point, from teller to mortgage loan officer, should ask for email addresses. Build your database now to ensure maximum adoption later.
| 5 |
Free Gift Offers: One of DigitalMailer’s clients averages 300 new e-statement sign-ups each month. But when they raffle a gift with a high-perceived value, they triple their sign-up rate.
| 6 |
Make it Easy: It behooves you to make it ridiculously simple to sign up for e-statements. One of the easiest ways is to send customers an email with a big clickable YES link.
| 7 |
Aggressively Court Online Banking Users: You should be able to convert
at least half of your online banking users to
e-statements. And you should also be to get an equal number of non-online
banking customers to sign up.
| 8 |
Referral Raffles: Using viral marketing, you can incite your customers to refer others (co-workers, friends and family) by offering a nice raffle prize and indicating that each referral bearing the referrer’s name will count as one entry. Therefore the more a customer refers, the greater his or her chances are of winning the prize.
| 9 |
Survey Customers: Use your Website and the email addresses you have captured to survey your customers about e-statements and other products. You’ll be surprised at what you can learn from a short four-question survey.
| 10 |
Ask: Don’t be timid. After you build a solid case for e-statements, clearly ask the customer to sign up. And continue to ask, at reasonable intervals, until they sign on.
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