Branches Become High Performance Sales Channels for Credit Cards
Acquiring new credit card members is as easy as motivating employees to cross-sell. With the right marketing tools, training, incentives,
and promotion, credit unions can turn their branches into high-performance sales channels for their credit card programs.
Shell Federal Credit Union of Deer Park, Texas, has a track record of success with in-branch promotions, but took its in-branch efforts to
new heights this year when it implemented TNB Card Services' Hottest Star Around promotion.
"For the first time ever, we exceeded our promotion goal, bringing in 510 new cardholders," said Sharon Hicks, manager of credit card services
for Shell Federal CU. "Our employees were highly engaged in this promotion, driven partly by the incentives offered."
Employees from Shell Federal CU and all other credit unions participating in the promotion each received one entry per approved card
application for a drawing for prizes. The prizes, provided by TNB Card Services, ranged from movie tickets and gift cards to a grand prize
of $1,000.
Recognizing the value of incentives to motivate employees to cross-sell its card, Shell Federal CU added to TNB's prizes. The credit union
gave employees $20 for each approved card application they received - up to 25 - giving each employee a chance to pocket an extra $500 in cash
on top of the prizes provided by TNB. Employees qualified for the $20 bonus once they had signed up at least five new cardholders.
"On average, we bring in about 150 new cardholders a month without doing anything special," said Hicks. "This promotion just proves that
giving employees a little extra incentive can go a long way in boosting your card portfolio."
For Communication Federal Credit Union, taking advantage of TNB's in-branch card promotion The Hottest Star Around, was a first. The $730
million Oklahoma credit union turned to TNB Card Services to help jump-start its 2010 card sales, resulting in a gain of 222 new cardholders
directly related to the in-branch promotion.
"We used the Hottest Star Around promotion to get our employees talking about our cards," said Christina Titterington, electronic services
manger for Communication Federal. "Once our employees discovered how our card compared to the competition, they were eager to sell it to members."
In addition to TNB's prize package, Communication Federal offered cash prizes to the top three employees who sold the most cards. "The prizes
were an extra incentive to give our employees a reason to talk about our cards with members," said Titterington.
Besides promoting the cards within the branch, the credit union implemented a direct mail campaign, playing off its "Enough is Enough"
advertising slogan, and brought in 177 additional cardholders. Combined, the promotion efforts added nearly 400 new cardholders and more
than $1 million in outstanding balances to the portfolio.
Titterington noted, "Once we began telling our members about our cards, we started seeing a flurry of new accounts. As members began
showing interest in the cards, our employees became more motivated to talk to them about our card products."
The Hottest Star Around promotion is one of many in-branch marketing promotions TNB offers for its credit union clients each year.
Participating clients receive in-branch kits that include promotional collateral such as posters, tent cards, employee buttons, and giveaways.
TNB also provides employee training materials, webinars and more on a promotion blog site where credit unions can share their success stories.
TNB works closely with clients to tailor these promotions by developing strategies and ideas that motivate employees and engage them in the
sales process. To learn how to train, motivate, and incent employees to sell your credit card products, contact your TNB account executive.
June 2010
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