MADISON, Wis. (4/30/13)--Twenty credit unions are piloting Filene Research Institute's Leeflet electronic brochure pilot program, which aims to improve operating efficiency, increase marketing effectiveness and enhance member experience. The pilot runs from May1 through Sept. 30.
"As credit unions are challenged to shrink operating expenses, they're searching for cost-reduction opportunities that don't negatively impact members," said Jason Milesko, Filene chief impact officer. "Paper brochures are largely ineffective and lack the mechanisms necessary to track campaigns. This pilot will help credit unions meet these challenges with electronic brochures as an alternative."
The average credit union can spend $50,000 per year on paper brochures. Powered by DigitalMailer, Leeflet helps credit unions eliminate those expenses while tracking use and communicating with members with electronically targeted brochures, Filene said.
During the pilot, credit unions digitizing brochures and other materials using Leeflet will reduce brochure expenses by 75%.
Leeflet originated in Filene's i3 program and stems from research suggesting that operating efficiently, with low-member impact, is necessary for credit unions in ensuring long-term sustainability and building stronger use and member loyalty. In initial testing, Smart Financial, Financial Center FCU in Houston and Fort Knox FCU in Radcliff, Ky., saw brochure open rates of more than 70% and click-through rates of more than 25%.
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