It’s A Jungle Out There

It's a jungle out there

Today’s financial headlines warn of pending downturns in an inflationary environment, economic oblivion for foreign superpowers, pressures from cryptocurrency, opportunities and threats surrounding BNPL, more restrictive regulatory changes and interest rates on the rise.

Navigating the decisions shaping your credit union’s future demand a plan to battle what may be your biggest threat: uncertainty.

Where do you to start to uncover the unknown? Sure, it’s data. And you’ve got lots of it, but why does getting “in the know” feel like eating an elephant?

Let’s break it down.

Most credit unions have a growth plan, with annual goals for recruiting new members and deepening existing relationships. That’s good. So, what if you could modernize your current member segmentation to more precisely identify opportunities to increase member economic participation, loyalty and improve many other business performance indicators?

  • Start with predicting which of your members have the highest propensity to grow their participation.
  • Develop and recommend products and value propositions these members would be most likely to respond to.
  • Understand member priorities and competitive strengths to tailor marketing campaigns and identify pain points throughout the CX (customer experience) that hinder member growth.
  • Execute with precision.
  • Finally, monitor attribution data—evaluating targeted tactics and the impact of mass marketing efforts.

These are tall orders and now is a critical time to position your credit union in an ever-changing marketplace. Let us help your data inform the requirements to deliver growth, positive performance and improve market share.