1 / 24

E-Statement Success Improve E-Statement Adoption and Cross-Sell Opportunities

E-Statement Success Improve E-Statement Adoption and Cross-Sell Opportunities. Today’s Presentation. E-Statement Adoption How do you get your current account holders to sign up for E-Statements? How are other financial institutions succeeding at converting people to E-Statements?

tan
Télécharger la présentation

E-Statement Success Improve E-Statement Adoption and Cross-Sell Opportunities

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. E-Statement Success Improve E-Statement Adoption and Cross-Sell Opportunities

  2. Today’s Presentation • E-Statement Adoption • How do you get your current account holders to sign up for E-Statements? How are other financial institutions succeeding at converting people to E-Statements? • E-Statement Marketing • E-Statements save you money, but is their a cost? How are other institutions incorporating marketing campaigns with their e-statements?

  3. Quick Poll • How successful are your current e-statement adoption marketing efforts?

  4. E-Statement Adoption - Step 1 • Remove the Barriers • Simple enrollment process • Online registration a MUST! No paper forms! • LKCS – account number, last 4 digits of SSN, password, MFA questions (if applicable), disclosure • Consider home banking single sign-on • LKCS – multiple home banking providers, members click one link and accept disclosure • Easy Opt Out • LKCS – settings check box to revert to printed statement • IDEA: One Click E-Mail Marketing Enrollment

  5. E-Statement Adoption - Step 2 • Know Your Demographics • Target marketing • LKCS client demographics

  6. E-Statement Adoption – Step 3 • Tout the Benefits – “What’s in it for me?” • Green/Eco-Friendly • If all U.S. households stopped receiving paper bills and statements, 687,000 TONS of paperwould be saved every year. • 34% of consumersswitched to e-statements to reduce their impact on the environment. • 43% of consumers said they are more likely to do business with companies they perceive to be green. • 22% said green initiatives cement the bond they have with their bank • Women are more likely to say that environmental impact is “extremely important” in banking decisions. Source: Javelin Strategy + Research Green Banking Report

  7. E-Statement Adoption – Step 3 • Safer than Paper Statements • E-statement data is encrypted through a 128-bit “Secure Sockets Layer”, which is the standard for data encryption on the Internet. • According to Verisign, “at current computing speeds, a hacker with the time, tools, and motivation to attack using brute force would require a trillion years to break into a session” protected by a 128-bit security certificate. The user probably would have logged out of their e-statements by then. 

  8. E-Statement Adoption – Step 3 • Safer than Paper Statements (continued) • Encourage people to look for the “lock” symbolin their browser. • LKCS e-statements are further protected by an Extended Validation Certificate, so you can tell account holders to look for the Green Bar. • Remind users to protect their account number and password -- that’s the key to e-statement (and home banking) security.

  9. E-Statement Adoption – Step 3 • Additional Benefits: • Faster Delivery than USPS Mail • E-Statement e-mail notifications typically sent within one day for LKCS clients • Available from Anywhere with Internet Access • Instant Access to Account History • At least 6 months and up to 18 months (or longer) for LKCS clients • FREE

  10. E-Statement Adoption – Step 4 • Pick the Low Hanging Fruit • Start with Home Banking users • Go after them again and again • Place e-statement ads within home banking • Contact them by e-mail with one-click opt-in • Don’t have current e-mail addresses? ASK FOR THEM at all contact points. • Some LKCS clients have converted large percentages of online banking users to e-statements.

  11. E-Statement Adoption – Step 5 • Promote, Promote, Promote • E-Statements are the last thing on your account holders’ minds • Utilize ALL Media: direct mail, web banner ads, e-mail marketing, online banking banners/links, deposit slips, ATM receipts, lobby signage and so on • Promote E-Statements within Printed Statements – envelope backer ads, statement inserts, statement ads/onserts, statement messages, etc. • Raffle drawings DRAMATICALLY improve e-statement registration – triple you sign-up rates by offering a prize (draw from all e-statement users to maintain loyalty)

  12. E-Statement Adoption – Step 5 • Employee/Branch Contests and Incentives • Your front line staff can do the work!Arm them with banners, posters, buttons and opt-in forms. Set up incentives or have branches compete with each other. • Set up a home banking/e-statement demo kiosk. Have an employee greet members, demonstrate e-statements, and sign them up right on site. • ASK!Keep asking people to sign up for e-statements. Explain the benefits.

  13. E-Statement Adoption – Step 5 • New Accounts • Sign account holders up for e-statements when they first open their account! Have them tell you if they don’t want e-statements. • Design some products to minimize/eliminate fees with e-statements and other e-services.

  14. E-Statement Adoption – Step 5 • Buy the Opt-In If Needed • Everybody wants something for their effort…. • LKCS’ clients have found that $5 appears to be a magic figure when it comes to enticing e-statement enrollment • Cash vs. Logoed Product doesn’t seem to matter • Have incentives available at teller and drive-up windows for instant e-statement opt-in rewards.

  15. E-Statement Adoption – Step 5 • A few ideas in the $5 range:

  16. E-Statement Adoption – Step 6 • Track the Results • Monitor new e-statement enrollments during marketing campaigns. • LKCS includes opt-in dates for easy tracking. • Look for any members who revert to printed statements and find out why they switched back. • Remember you have their e-mail address, so you can ask them. • Match back account numbers for any targeted campaigns or special offers.

  17. E-Statement Adoption – Step 6 • TIP: Don’t have the marketing budget? Remind management that each person who signs up saves your institution $0.50 or more per month. • Savings Example: • 2,500 new e-statement users at $.50 per month • Monthly Savings: $1,250.00 • Annual Savings: $15,000.00 How much would your CEO give you to spend on a marketing campaign that generates an ongoing $15,000 annual savings? And that’s only for 2,500 additional members – some LKCS clients have over 30% of members on e-statements.

  18. E-Statement Marketing • Just because you are saving money with e-statements doesn’t mean you should sacrifice all marketing opportunities. • How are your best members going to know about your latest specials and newest products?

  19. On the E-Statement • Banner Ads • Link to web pages or PDFs • Appear for all members or selectively

  20. On the E-Statement • Statement Ads/Onserts

  21. On the Notification • Custom E-Statement E-Mail Notification

  22. On the Way In • Custom Login Page

  23. Questions? • Questions/Comments Sid Haas Vice President of Business Development Direct 815-220-3904 sid.haas@lk-cs.com

  24. Thank You Thank You!

More Related