Credit Union Modernizes Marketing and Lead Management

Credit Union Modernizes Marketing and Lead Management

Today’s consumers expect seamless experiences across every interaction with a brand – and that includes interactions with their financial institutions. Whether they’re depositing a check, shopping for mortgages or opening an account, they want their bank to make sure the transaction is friction free.

That’s why banks and credit unions across the country are implementing digital transformation initiatives to ensure a frictionless customer experience across every customer touch-point from the ATM to the branch to online banking to the customer call center.

But successful digital transformation has many steps and often requires third-party expertise. That’s what the client's marketing team discovered when they set out to implement Marketo in an effort to level up their marketing outreach. News travels fast in the banking industry, so when the VP of Member Experience and Marketing learned of the success another BDO Digital client was having with its own Marketo deployment, they called them to learn how they did it. BDO Digital, they were told, was their secret weapon.

The Challenge: Today’s Customers Demand Seamless Digital Experiences

As a company, the client was falling behind in the digital transformation race and its ability to meet the changing needs of customers in the communities it serves. One of the challenges was that the marketing team didn’t have the tools in place to generate and nurture business effectively.

"We’d been working to evolve digitally, but also knew we had a long way to go,” AVP of Marketing and Digital Experience, said. “Our existing technology and vendors were doing the job, but we knew that we could do better. We knew that we had to improve our marketing technology stack and bring in an expert that could help us maximize this new technology so that we could deliver the engaging, top-notch experience we wanted.”

Additionally, the marketing team’s approach had been reactive rather than proactive, and they had few KPIs or data to drive marketing activities. They wanted to be able to use proprietary data to fuel predictive propensity models and trigger relevant offers and communications based on customers’ behaviors. They also wanted to use Marketo forms to help market various banking solutions and create new revenue streams for the business via eCommerce. After the strong recommendation from the other BDO Digital client's marketing team, this client reached out to BDO Digital.

The 3-Phased Approach to Digital Marketing Transformation

In early 2019, BDO Digital set out to build and execute a roadmap for the client's marketing team and get them moving along their digital transformation journey.

The roadmap was executed in three phases:

  • Phase one included the Marketo implementation and data discovery process. BDO Digital also provided lead nurture framework consulting to help the client develop an effective lead nurture strategy.
  • During phase two, BDO Digital implemented the new lead nurture framework as well as a lead scoring model to help the client qualify leads effectively. The client's marketing team worked to integrate the new Marketo instance with their ARCU (Advanced Reporting for Credit Unions™) system, where all of their member data lives. At the end of this phase, the new lead nurture framework went live.
  • During phase three, BDO Digital continued to help the client optimize their lead scoring models and nurture programs.
We had never passed leads to our sales teams before...

BDO Digital was instrumental in stepping us through the thought process and data behind the model as well as the build in Marketo, including the associated nurtures. When I have a Marketo question, I know I have my BDO Digital team there with answers.
Digital Communications Manager

One Year Closer to Digital Transformation

Today, the client's marketing team can hand over highly qualified leads to sales. Segmentation helps them determine what types of content and messaging to develop, which leads sales should receive, and ensures all communications are timely and relevant to the recipient.

In 2020, BDO Digital continues to provide ongoing consulting to help the client refine its lead scoring and management framework. Additional services include implementing a newsletter subscription option to generate leads as well as optimizing conversion tactics, such as landing pages.

BDO Digital is also planning to integrate PFL (tactile marketing) and real-time, data-driven personalization into the client's lead nurture campaigns, as well as assist with developing a social advertising and retargeting strategy.

Finally, BDO Digital will help the client implement campaign attribution and detailed reporting, so that the AVP of Marketing and Digital Experience's team can prove its value to stakeholders and across the organization.

BDO Digital has been instrumental in helping us forge ahead on our path to digital transformation...

Our journey has just begun, and we’re already seeing results. We’re confident that with BDO Digital guiding the way, we’ll continue to progress and achieve all of our digital marketing goals.

Ready for a complimentary consultation with credit union marketing professionals from BDO Digital + Adobe?