It’s not unusual for local community banks and credit unions to create marketing campaigns without the benefit of data. With no data to guide strategy, marketing campaigns become based on personal opinions and experiences. But without hard data, it’s nearly impossible to target members with the right message at the right time. Cincinnati Ohio Police Federal Credit Union (COPFCU) was no different, and they knew it was time for a change.

After doing their due diligence, they landed on Marquis, a data-driven industry leader in marketing for financial institutions. What attracted them went beyond the solid value Marquis offered through their marketing software; it was a combination of:

• A dedicated marketing strategist
• The ability to track results
• Marketing software built by bankers for bankers

The Benefits of a Dedicated Marketing Strategist
COPFCU partnered with Marquis in December 2019. Working with their personal marketing strategist, the first order of business was to develop a marketing plan. The knowledge, dedication and guidance proved invaluable as they reviewed everything within COPFCU’s system to find the best direction for their marketing plan. They took a deep dive into current balances, annual profit and projected goals. Marquis’ strategists are highly trained experts, committed to helping financial institutions of all sizes develop and execute successful marketing campaigns. They understand financial services and are well-versed in what works, and what doesn’t. Therefore, when COPFCU’s strategist presented them with around 40 different programs that could work for them, they knew they were on the right track.

Developing a Winning Strategy
Running over 40 campaigns is unrealistic for financial institutions just starting out in the world of automatic, data-driven marketing communications. As a team, COPFCU and their Marquis strategist narrowed down their options to those that would best meet their objectives—to strengthen engagement and drive a high return on investment.

Based on the guidance of their marketing strategist, they implemented the following campaigns: onboarding; an auto matrix; 18-month auto loan reminders; a checking matrix; mobile banking adoption; and invitations to apply for both mortgages and HELOCs. Following the advice of their Marquis strategist and using best practices, they created a marketing calendar based on their objectives—drive a high ROI and increase engagement.

Then and Now
Before COPFCU partnered with Marquis, marketing was based on ideas with no way of knowing if the campaign was successful or not. They did not use data to direct their campaigns and were unable to track results. With the help of their Marquis marketing strategist, they were able to change all that. Data enabled them to present their members, through both direct mail and email, with the next best product or service. The ability to track results and create reports for management continues to prove the worth of their marketing efforts and justify their spend.

COPFCU turned to Marquis for guidance and advice in developing a winning marketing strategy. More than a once-in-a-while source of information, their marketing strategist became a part of the team, dedicated to the credit union’s growth and success. Due to invaluable support of their Marquis strategist, COPFCU’s new data-driven marketing strategy has proven its worth with increased balances, improved engagement and greater retention. The numbers speak for themselves.