Cross-Selling Solely in Cyberspace

Micronotes product a 'Swiss Army Knife' for engaging members who bank online, CU says.

July 16, 2013

How do you expand service penetration to tech-savvy members who haven’t seen the inside of a branch in years, want nothing to do with call centers, and click on banner ads less often than they dust their blinds?

The $803 million asset USAlliance Federal Credit Union in Rye, N.Y., successfully tapped into this market segment by implementing Micronotes Cross-Sell through a visible, integrated placement on its online banking site, augmented by a pop-up screen at log off.

VIDEO: USAlliance and Micronotes presentation at Finovate

The tool delivers customized loan offers and indicates a member's preferred contact method, with direct notification to a member service representative for nearly instantaneous-follow-up. It also tracks approved loans that haven't been funded, encourages opt-ins for products such as courtesy pay, and fosters general education and awareness, says USAlliance Federal President/CEO Kris VanBeek.

"I think of Micronotes as our Swiss Army Knife for the online platform," he says.

A campaign summary report provides metrics on engagement, leads, and closes at the click of a button. In the first five months of the year, USAlliance Federal operated at a 47% overall conversion rate on nearly 3,000 offers, and converted 75% of members who shunned initial Visa Platinum program promotions.