Consider these big data analytics investments, which can lead to big returns for credit unions.
Most active members receive more than $100 per year.
Lenders are always challenged with finding innovative ways to grow their portfolios. As the appeal of broad-market direct marketing dwindles in our highly competitive marketplace, lending institutions are moving to more-targeted acquisition strategies by leveraging a deeper understanding of a member’s lifetime value.
Aite Group has introduced a new metric to help banks and credit unions uncover drivers of customer loyalty and referrals.
There are lots of ways for credit unions to go about improving member experiences, growing member referrals and increasing their average number of products per member.