Sweepstakes Moves Members to Bill Pay, PSCU Says
PSCU Financial Services has reported that a sweepstakes offering allowed participating CUs to boost their members' use of online bill pay 17.8% during a two-month promotion.
The promotion, which ran from June 1 to July 31, was aimed at CU members who had signed up for online bill pay but had not yet made a payment, the payments CUSO said.
The promotion saw a jump of 8% in the number of CU members who made their first online bill payment and an increase of 6% in the number who made three or more online payments per month.
PSCU said it conducted the sweepstakes in conjunction with Fiserv, the technology company behind the CUSO's online bill pay application.
The sweepstakes offered a grand prize of $10,000, a $1,500 first prize travel certificate and two Amazon Kindle Reading Devices and two $50 Amazon.com gift cards.
"After tracking the success of these promotional tactics, credit unions that used social media to market this exciting promotion achieved the strongest results, with double digit growth in usage by inactive subscribers and first time users. Credit unions also boosted their results by using multiple promotional outlets," said Leslie Reistrup, director of eCommerce for PSCU.