Redstone Federal Credit Union engages existing and new customers with Adobe Marketo Engage.

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Huntsville, Alabama
www.redfcu.org

5,500

New and upgraded accounts from cross-sell email campaign

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Objectives

Shift from one-off marketing campaigns to automated, targeted campaigns

Establish a content strategy to engage both existing and future members

Capture interest of prospective members who were visiting their website

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Results

1/4 of annual online goal reached in 7 weeks with first Marketo Engage campaign

Developed strategy to drive awareness and capture website visitors with interesting content

Created nurture campaigns for existing and prospective members who showed interest in checking products on web site

Cross-sell email campaign resulting in 5,500 new and upgraded accounts

Challenges

Based in Huntsville, Alabama, Redstone Federal Credit Union has been proudly serving the Tennessee Valley since 1951. With nearly 370,000 members and more than $3.5 billion in assets, Redstone is the largest credit union in Alabama and among the 25 largest credit unions in the nation.

 

Although Redstone Federal Credit Union (RFCU) is a multi-billion-dollar organization, the company runs with a lean marketing team. RFCU has nine people in their marketing group with one person dedicated to email marketing. Prior to adopting Adobe Marketo Engage, RFCU was using an outdated solution that required coding and heavy technical support to send emails. RFCU also had no way to capture interest of prospective members who were visiting their website.

 

To grow their membership and increase their wallet share, RFCU wanted to shift from marketing in one-off campaigns to responding to existing and prospective members through triggered messaging when members became engaged with RFCU, such as a specific product page on the website.

 

With a small marketing department, RFCU needed a powerful solution to automate their marketing communications. The ability to create drip campaigns, segment their audience, and stream communications with different paths were also important features in RFCU’s search for the right solution. With automation, RFCU imagined creating a content strategy to engage both existing and future members. RFCU also wanted a way to keep track of their membership in order to determine when and where demand was high enough that future branches might be opened.


“We don’t have the luxury of a big marketing team at Redstone, so we needed a way to best leverage the resources we have to engage with existing and prospective members. Marketo Engage lets us easily automate marketing campaigns with emails and nurture streams that trigger based on specific actions, such as a new membership or content download from our website. We hit one quarter of our annual account conversions goal in our first campaign, so I’m really excited about what Marketo Engage can do for Redstone.”

 
Betsy Pruitt

Online Marketing Manager, Redstone Federal Credit Union


Solution

RFCU identified and investigated several marketing automation solutions, and they chose Marketo Engage. While RFCU recognized the Marketo Engage team’s thought leadership and appreciated the helpful and knowledgeable staff, their main reason for selecting Marketo Engage was that it offered the most robust capabilities while also being easy to use.

 

RFCU has leveraged Marketo Engage to develop a strategy to drive awareness and capture website visitors with interesting content through both outbound campaigns as well as with landing pages on their website.

 

In the first few months with Marketo Engage, RFCU created two impactful campaigns. The first campaign was a cross-sell nurture campaign to inform members about RFCU’s five great new checking account products. The second was a variety of landing pages offering advice-oriented content to support online advertising and capturing prospective member interest.

Benefits

With Marketo Engage, RFCU has been able to create a true content marketing strategy, something that was not possible before. In its first campaign, which introduces members to the new checking accounts, RFCU’s success was so overwhelming that the member/customer support team asked marketing to slow the pace of the campaign emails because they were receiving so many account conversions. The campaign hit one quarter of the annual online goal for checking account conversions in just seven weeks. As part of this campaign, RFCU sent a series of emails to 140,000 contacts, which resulted in 2,400 content downloads and created 5,500 new or upgraded accounts.

 

Going forward, RFCU is preparing to launch additional campaigns, including ones focused on mortgage products and a nurturing campaign for new members to introduce them to products through useful content in a weekly tips and insight format.

 

“We don’t have the luxury of a big marketing team at Redstone, so we needed a way to best leverage the resources we have to engage with existing and prospective members,” says Betsy Pruitt, Online Marketing Manager at Redstone Federal Credit Union. “Marketo Engage lets us easily automate marketing campaigns with emails and nurture streams that trigger based on specific actions, such as a new membership or content download from our website. We hit one quarter of our annual account conversions goal in our first campaign, so I’m really excited about what Marketo Engage can do for Redstone.”

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