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MarketingBD Council paper Make most of MCIF systems
MADISON, Wis. (5/4/10)--Credit unions that use their marketing customer information file (MCIF) system only for compiling mailing lists are significantly underestimating its potential, according to the new CUNA Marketing and Business Development Council white paper, “Making the Most of MCIF Systems.” The white paper collected information from three credit unions and three vendors to reveal how an MCIF system can help credit unions explore households’ profitability, identify niche markets, promote their strengths, explore their neighborhood, track the results of marketing efforts and educate leaders about current and potential members. The MCIF experts say that taking advantage of the full value of MCIF systems requires listening to the data, rather than approaching MCIF reports with preconceived notions. When credit unions are open to learning from data, they can unleash MCIF’s full power, the white paper says. “It’s like having a car you think is great and then uncovering a new knob and discovering all this extra power you never knew you had,” said Christopher Kennedy, supervisor of marketing research, Mountain America CU, West Jordan, Utah. At Mountain America, “we’re often finding out new things we can do that help us to be successful.” The council also will host a webinar on the topic July 27. For more information, use the link.
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