Blog

The Many Ways for Banks and Credit Unions to Measure Profitability

Posted by Terry Bellenfant

measuring profitability

Having a clear, accurate understanding of overall profitability is essential when making strategic business decisions in any industry. It can be particularly difficult for the financial industry to gain this insight, as a 2018 survey from Temenous and Accenture found that profitability was the biggest challenge facing banks today.

One reason this can be challenging is because there are many different areas across which a bank or credit union can evaluate profitability, including individual accounts, customers, relationships, products, officers, and branches. When and how you measure profitability for each of these will depend on your organization’s business priorities.

There are few questions to ask yourself when determining profitability on a macro level, and for specific segments of your business.

Read More

Topics: Profitability

A Millennial Marketing and Recruitment Plan

Posted by David Acevedo

millennial-marketing-and-recruitment

With projections to be the largest living generation by 2019, millennial shave significant influence over the success of businesses in almost any industry. They are the fastest  growing customer base, with 85.3 million people in the U.S., and are expected to make up 44% of the workforce by 2022.

So, if your bank or credit union is not focusing on this demographic in your marketing or recruitment efforts, it’s time to make a change. Consider these tips for incorporating millennials in your marketing and recruitment plans.

Read More

How to Choose and Implement the Right CRM

Posted by Rebecca Key

10-minutes-with-David-Acevedo

Customer relationship management (CRM) platforms continue to be a staple in sales and marketing departments across financial institutions. According to the 2018 Guide to Financial Marketing, 54% of organizations have a CRM, and 22% intend to have one within the next 12-18 months.

For those 22% looking to implement a CRM platform, there are a lot of factors that go into making a decision and then actually implementing the system. In a recent interview with St. Meyer and Hubbard, 360 View Senior Vice President and National Sales Director David Acevedo shared his thoughts on how to select and implement the right CRM for your business.

Here’s what he had to say:

Read More

Topics: Sales & Marketing, CRM

Why Budget for a CRM in 2019

Posted by Keith Twisdale

Budget-for-CRM-in-2019

The fourth quarter of the fiscal year is half over and that means budget planning is well underway. No, not the most exciting thing to do in the remaining months of 2018, but necessary nonetheless.

There are a lot of factors that go into a bank’s budget, but one thing that’s important not to overlook is your technology investment. And, this starts with a robust CRM platform.

With the right CRM in place, you’ll be equipped to launch strategic sales, service and marketing initiatives that benefit your business and attract the right customers in 2019. Consider the following reasons for including a CRM in next year’s budget.

Read More

Topics: Sales & Marketing, CRM

How to Use Data Analytics for the Right Actions

Posted by Joyce Colin

data-analytics-for-right-action

Data analytics has come to be a widely accepted and necessary part of any marketing strategy in any industry. In fact, according to the 2017 Big Data Analytics Market Study, big data adoption reached 53% in 2017 for all companies interviewed, with finance and telecom leading the way.

As the finance industry has been quick to adopt big data, now is the time for banks and credit unions to take it one step further and use analytics to guide business decisions. The following guidelines can help you move beyond baseline analytics so you can take the right actions for your business.

Read More

Topics: CRM, Data Analytics