Why Financial Institutions Are Focusing on Consumer Loyalty Over New Business Acquisition Financial institutions spend thousands to tens of thousands of dollars every year on attaining new consumers (an average acquisition cost of $200 per new consumer). However, in recent…
When economic times are tough, individuals and businesses alike suffer. As people tighten their purse strings, businesses are making less money on less necessary products and services such as travel. This means member retention and growth are more important in…
It is more important than ever for banks to get customers more engaged to retain them. Having a healthy bank account does not equate to loyalty or retention. Even dissatisfied customers may stay, simply because it’s too cumbersome to change…
4 unique benefits of offering hassle-free insurance to your members. Associations need to be innovative in providing value added services and education to ensure the retention of their members. Insurance can be part of that solution. Credit unions have been…
The past few years have been an unbridled time in the banking industry. Many indicators are demonstrating that banks are facing a time of considerable change yet in the future. Historical fee-based income opportunities are going away, resulting in millions…
Non-Interest vs. Interest Income Non-interest income (NII) is revenue that does not involve collecting loan interest from a consumer as well as collecting revenue from account related charges such as monthly fees or overdraft. NII typically stems from fee-based earnings,…
Did you know there are five important questions to consider when selecting a third-party marketer? You might be thinking, where do I start? The first important aspect to consider is trust and engagement with your customers. This can happen through…
Take a more strategic approach to your marketing that produces stronger results by leveraging smarter marketing from Franklin Madison. Here are 5 key steps to better engage consumers and strengthen your relationships with them.
If you are one of the millions of families coast to coast who count their pets as members of the family, the cost of healthcare shouldn’t be prohibitive when they need veterinary care. That’s why, in conjunction with the ASPCA…
We might be living in the digital age, but more and more data every day is showing that direct mail is alive and well. In fact, with a response rate that outperforms all digital channels combined by five to nine…