Understanding Trigger Marketing

by Jeff Shood
Understanding Trigger Marketing

Two hundred years ago, Napoleon noted that “war is 90 percent information.” In today’s highly competitive financial services industry, financial institutions must have good data…and know how to use it. Credit unions are realizing the importance of automating their marketing efforts, leveraging their data, so that products and services intersect as efficiently as possible with member need and opportunity.

In Intuvo’s recent white paper on credit union marketing automation, we discuss the new ways that marketing experts are responding to the actions their customers are taking. In the case of credit union marketing, we’re talking about trigger marketing and how it allows marketers to respond more appropriately to their members needs and earn more business.

Learn more about our mortgage point-of-sale and online application system.

Trigger marketing takes marketing automation to a higher level, and makes every marketing message more effective, because it is delivered to the prospect at a time that makes sense to them. This mitigates the risk of sending the wrong marketing message to a prospect or overloading them with marketing messages when they are not ready to buy.

As lenders, credit unions have customer data in their core banking and lending systems that can be integrated into an advanced marketing automation platform. This intelligence allows the marketing team to effectively leverage information the credit union already knows about its members to automatically match them with meaningful marketing messages. This connects them with the right loan products and services for them.

For instance, when a member closes a new mortgage loan and is in a position for additional credit, the system can be programmed to automatically add this member to receive messages about other loan products, such as new consumer and auto loans. Likewise, should a member take out a new auto loan, the system will know not to send them additional marketing information about those loan products. Making offers to a member that cannot take advantage of a loan product can disrupt or harm the relationship.

Having this information, and leveraging it to better serve your member’s needs, is more than half the battle. By making offers that align closely with their member’s own desires, the institution demonstrates that it cares about its members and understands their needs. This is a very powerful brand builder. Further, knowing a need or opportunity and efficiently executing your financial services outreach through trigger marketing, all while strengthening customer relationships, is a critical strategy for credit unions to capture more loans.

Intuvo’s automated marketing and sales engine uses the activity-based marketing model and is designed specifically to help credit unions capture more loan opportunities and improve the borrowing experience. Credit unions that rely on Intuvo’s digital marketing solutions have consistently increased loan volume by up to 30%.

About the Author

Jeff Shood
President/Co-Founder, Intuvo