Rancho Cucamonga, Calif., and Franklin, Mass. (December 17, 2012) - Well targeted marketing and an attractive holiday season incentive led to a 201 percent increase in average monthly spending among credit union members in a "Season of Giving" promotion from CO-OP Financial Services.
During November, credit union members across the country participated in the CO-OP Financial Services debit card marketing promotion, managed by Saylent Technologies. The program targeted low spending debit cardholders, identified through the CO-OP Total Revelation payment intelligence tool.
The 201 percent increase is based on spending that went from $62.60 per-card, per-month to $188.87 per-card for November. In addition, the promotional program netted the following results:
When targeted members increased their spending, a contribution was made in their name to a tree planting program. This led to contributions for planting 8,240 trees on behalf of the 824 cardholders who did so. The trees are to be planted at more than 40 reforestation projects around the world, half of which were located in the United States. The tree plantings are provided by Treecycler, an organization that connects businesses with a network of reforestation organizations.
"CO-OP Total Revelation enables us to provide segmented promotional campaigns where everyone wins," said Tyson Nargassans, President and CEO of Saylent Technologies. "The credit union member gains an incentive to use their cards and credit unions forge closer ties with their members. As an added bonus with this campaign, more than 8,000 trees will be planted."
"CO-OP's 'Season of Giving' marketing campaign helped our credit unions recognize real growth in an inactive member segment," said Stan Hollen, President/CEO of CO-OP. "We are committed to not only providing products and services that help credit unions keep their cards 'top of wallet' among members, but also the programs and strategic counsel to achieve that goal."
CO-OP facilitates four turnkey marketing campaigns, called CO-OP Preferred, every year. The turnkey campaigns include: target segmentation, campaign concept and creative design, customized creative, results analysis, incentive fulfillment, and report on return on investment. Participating financial institutions realize long-term benefits, with minimal effort, and at costs that are competitive or less than what they could do on their own.
For more information on CO-OP Preferred, please visit www.co-opfs.org.
About Saylent Technologies, Inc.
Saylent Technologies, based in Franklin, Mass., develops payment intelligence solutions that help organizations understand and capitalize on payment behaviors. Employing innovative analytics and segmentation techniques, Saylent's Card360 solution identifies card usage patterns by cardholder, targets underperforming or at-risk segments, and enables corresponding marketing programs and metrics. Saylent's Account360 solution provides a holistic perspective on customers across all payment types, enabling financial institutions to understand and shift customer behaviors and increase share-of-wallet. Saylent's Insight360 consulting services help clients speed time to value with expert analysis and customized marketing services. For more information, please visitwww.saylent.com or call (508) 570-2161.
About CO-OP Financial Services
Based in Rancho Cucamonga, Calif. and founded in 1981, CO-OP Financial Services is the industry leader in access and convenience products for credit unions. CO-OP connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,500 credit union members, 30 million cardholders, 30,000 surcharge-free ATMs, 4,900 shared branching locations (plus 2,200 Vcom® kiosks) and more than two billion annual transactions, CO-OP Financial Services offers the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org.