Marketing has always been a challenge for small to mid-size credit unions. Cost of compliance and other noninterest expenses consume resources that could be dedicated to developing in house IT solutions. The average credit union can spend $50,000/year on paper brochures. Originally a Filene i3 idea and tested at Smart Financial, Financial Center FCU, and Fort Knox FCU credit unions, Leeflet aims to improve operating efficiencies and marketing effectiveness of credit unions by digitizing brochures and other marketing materials. This presentation recaps the encouraging results from a six-month pilot of Leeflet conducted at 19 credit unions across the country:
- When credit unions use Leeflets in a targeted fashion, for instance responding to actual member requests, Leeflets have far higher open and click through rates than unprompted emails
- By implementing Leeflet, credit unions can, on average, readily reduce brochures printed by 88%
- Leeflets may yield other benefits, by allowing credit union managers and employees to better track whether their communications are relevant, or ignored, by members
Download the presentation to uncover additional insights and the benefits of implementing Leeflet.