Author: andrewadmin

‘ Finding new banking customers or members is difficult; there are only two choices: people who don’t currently bank with you, and people switching from another institution.’ The “switching group” can be further segmented into people switching because of a life event (approx. 3o%) and people switching because of a disruption at their current institution… Read more

“What’s in it for me?” This could very well be the first question a customer asks when a financial institution announces a product conversion or merger with another company. This is likely followed by confusion, anxiety, and—in some cases—anger. So how does an organization diffuse these feelings? Timely information and transparency is key for conversions… Read more

Knowledge is Power… for WordCom and for its customers. That’s why appending data —supplementing information from an existing database with external sources—is so vital to reaching key audiences, as well as maximizing efficiency, clarity, and targeted messaging to improve marketing efforts. “There is so much information that can be appended, so it creates a real… Read more

Relationships. If you build them with your customers—along with a portfolio of products that meet their needs—you will increase retention of current customers and attract new ones. This includes a comfort level that they are valued by you and an increase in the chances they will purchase additional products to build revenue and sustain their… Read more

Financial institutions have tons of information that is usually underutilized. How do you see the information? How can you analyze it? If you can’t gather insights from your data, you definitely can’t make it actionable. Most of the time the information is buried in a core system or housed in an MCIF that displays the… Read more

Many marketers are asked to create campaigns that fit the entire prospect landscape, but the larger the financial institution, the more difficult this task becomes. Every region has different needs, buying habits, and ways of doing business. Geographic segmentation takes into consideration the way people communicate within regions and communities. With this kind of market… Read more

WordCom Inc. not only prides itself in serving customers, but also the community. Several members of our team volunteered recently for United Way’s Community Volunteer Day, which gives companies and their employees the opportunity to engage and make a difference where we call home. We got our hands dirty cleaning the visitor center and some… Read more

Most institutions understand the deposit balances and loan profitability that accompany new business accounts. Competition for businesses as customers is fierce, so using business data to select business prospects is imperative to successfully expanding this account base. Once selected, a repetitive communication program with a competitive bonus offer will help to acquire new business customers…. Read more

When deposits are already high and loans are where you are looking to focus, we recommend a unique way to build your loan portfolio: use the equity lines already approved and “on the books!” These are an important and rich source of new loan balances. Reminding members/customers of the credit they have available to them—and… Read more

Financial marketers know how important business accounts are to the bottom line of their institutions, but it’s extremely hard to get your message in front of business owners at the workplace. Luckily, there are a couple of data tools that can help reach business owners at home. Existing retail customers are likely working someplace… and… Read more