Introduction
Ventura County Credit Union (VCCU) faced significant challenges with their marketing efforts due to outdated and fragmented systems. With the help of Strum Platform, VCCU has transformed its marketing capabilities, achieving impressive cost savings and operational efficiencies. This case study explores how Strum Platform addressed VCCU's pain points and drove substantial improvements in their marketing strategy.
Challenges
Tina Estes, the Vice President of Marketing & Community Development at VCCU, highlighted several key issues with their previous marketing setup:
- Outdated Data: The legacy MCIF system provided only end-of-month snapshots, leaving the marketing team without up-to-date information for timely decision-making.
- Lack of Integration: The previous system did not integrate with their marketing automation program, preventing effective campaign tracking and management.
- Fragmented Solutions: VCCU relied on multiple vendors for different aspects of their marketing needs, leading to inefficiencies and higher costs.
Solutions
With the implementation of Strum Platform, VCCU experienced a significant transformation in their marketing operations:
- Real-Time Data Access: Strum Platform provides VCCU with current, actionable data, enabling the marketing team to respond promptly and effectively to member needs.
- Comprehensive Campaign Tracking: The integration capabilities of Strum Platform allow VCCU to track campaign performance in detail. Tina noted, "One of my favorite things about the Strum platform is that the campaigns that we have done, we're actually able to track. We're able to see what members have opened and what Halo accounts they've had from that particular campaign."
- Cost Savings and Operational Efficiency: By consolidating their marketing tools with Strum Platform and signing up for Prisma, VCCU eliminated the need for three separate vendors, resulting in over $200,000 in cost savings. This financial benefit enabled VCCU to hire a full-time employee dedicated to managing their marketing automation, including Strum.
Results
The integration of Strum Platform has led to several tangible benefits for VCCU:
- Enhanced Campaign Effectiveness: VCCU can now identify and target members with personalized campaigns based on their current product holdings and needs. Tina explained, "We're not just doing the shotgun approach. We're actually looking at what the member has and what they should be having next, what product would be best for them next."
- Improved Member Engagement: The ability to track member interactions and Halo accounts allows VCCU to understand member behavior better and tailor their marketing strategies accordingly.
- Streamlined Operations: The consolidation of marketing tools and the addition of a dedicated full-time employee have streamlined VCCU's marketing operations, making them more efficient and effective.
Conclusion
Ventura County Credit Union's partnership with Strum Platform has been a game-changer, providing the tools and insights needed to enhance their marketing efforts significantly. The transition from fragmented, outdated systems to an integrated, real-time data platform has not only improved campaign tracking and member engagement but also delivered substantial cost savings and operational efficiencies. As a result, VCCU is better positioned to support its members on their financial journeys with targeted, personalized marketing campaigns.
