A financial customer data platform to enhance experiences, spark engagement and enrich people's lives.
Embold Credit Union previously relied on email marketing with data from their core system, resulting in outdated and ineffective campaigns. Challenges with their email marketing vendor finally accelerated their transition to a cloud-based customer data platform to amplify results.
The credit union’s data analyst and marketing leader took charge of the marketing platform and pioneered the personalization of lifestyle segment-focused member journeys in real time.
The move to data-driven marketing and business intelligence dashboards fostered teamwork among leaders at Embold around testing and learning new strategies for growth. The team started with one-off emails targeting specific segments, learning to identify, create, and optimize campaigns and results. Other leaders jumped onboard from lending, to branch sales and operations to improve member experiences.
Aaron Goff, Embold CEO shared, “We are already collaborating with our data insights and making smarter, faster decisions to improve our member relationship building.”
Using Strum Platform, they extended these lessons to create multi-email campaigns catering to new members’ unique personal needs. Four automated onboarding journeys, each with seven personalization elements, evolved to suit hyper-targeted member subgroups. Continuous refinements were made based on onboarding milestones and member responses and engagement.
Strum Platform’s daily automated data flow made it easy to measure email responses, product sales and conversions, pinpointing the impact of data-driven marketing. Prior year HELOC emails generated 20-25 HELOC loans: the new hyper-targeted and personalized emails generated a 7X increase, with 162 loans and $35 million in new balances.
The ability to track member activity beyond the initial HELOC promotion proved invaluable. Those who opened campaign emails also opened 486 new deposit accounts (for $3.4 million) and 589 new loan accounts (over $12 million) during the same period.
Embold now manages 30+ automated and effective marketing email campaigns, delivering personalized messages, and smart journeys that improve member experiences and engagement. Automation lightened the IT and data team’s workload, and improved the ability to track and report results and ROI every day.
Data-driven marketing with the Strum Platform has proven effective and rewarding for Embold’s leaders. Their results showcase immense potential for growth and success, as they confidently explore new ways to enhance their member’s financial wellbeing across multiple channels their members prefer.
“I love that we have access to accurate, next-day data! Our previous solution was often inaccurate, and we'd have to find the errors on our own. The tools and dashboards available in Strum Platform are miles ahead of the competition. We've seen high-value results, have great partnership with our client success managers, and have worked together on some really successful strategies," said Hillary Kissell, Director of Marketing and Community Development.
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