TechOME25: Marquis' Ben Udell on How Credit Unions Can Turn New Members into Lifelong Relationships...

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Ben Udell, SVP Product Marketing & Innovation at Marquis, joined us in the Studio Lounge to highlights his conference session on "The First 90 Days: Turning New Members into Lifelong Relationships."

Specifically, Ben talked about ​the significance of onboarding new members and building lifelong relationships. He shares strategies for effective member engagement, emphasizing consistent communication, particularly through direct mail.

Ben added that a structured onboarding plan with accountability is essential, concluding with key takeaways on relationship building and effective onboarding strategies.

Q&A summary...
What is the main focus of the session titled 'The First 90 Days: Turning New Members into Lifelong Relationships'?
The session emphasizes the importance of onboarding new members effectively to build lasting relationships, particularly for credit unions.
Why is the first 90 to 180 days crucial for member retention in credit unions?
This period is vital because it sets the foundation for the lifetime value of the member, and poor onboarding can make it significantly harder to retain them.
What strategies should credit unions implement during the onboarding process?
Credit unions should focus on showing value first, building awareness, and then gradually introducing sales messages to new members.
What role does financial literacy play in building trust with new members?
Providing financial literacy helps position credit unions as trusted educators, fostering loyalty and trust among new members.
What is the significance of direct mail in the current marketing landscape for credit unions?
Direct mail is gaining better response rates and can stand out in a crowded digital space, making it a valuable tool for credit unions to engage potential members.
What is the key takeaway regarding the importance of a structured onboarding plan?
A structured onboarding plan is essential for accountability and ensuring that the onboarding process is executed effectively, leading to better member relationships.

Check it out and when you get a chance and let us know your thoughts. And be sure to watch all our Studio Lounge interviews from the America's Credit Unions' Operations & Member Experience Council and Innovation & Technology Council Conference on the episode archive page -- as well as checking out our conference coverage sponsor Cook Solutions Group.