Beta Testing News: Try the new Billing tab to get more control and flexibility

As part of our ongoing effort to improve our advertising program, we're testing an updated AdWords billing interface that's designed to make the payment process easier and more flexible.

We’ve just started the testing process with a small group of U.S. advertisers, and we’re inviting eligible advertisers to participate so we can incorporate your feedback into the changes we’re working on. Although your billing method and form of payment won't change, you’ll have access to some snazzy new features. If you already have the new Billing tab, your Billing Summary page will look like this:

(click for full size image)

If you don't have the updated Billing tab yet, we're giving you the opportunity to upgrade early. Here’s what you can expect from your updated Billing tab:

• Get more control. Choose to initiate a payment on your account at any time and use any form of payment available with your country and currency settings.
• Make payments directly from your billing summary page. You can do this by clicking the "Make a payment" button.
• Add multiple forms of payments and switch between them. Add as many forms of payment as you want to your account and switch between using them at any time.
• Use different business and billing addresses. Your business address doesn't have to match your billing address. Plus, each form of payment can have a different billing address.
• Get additional support. You will have access to improved help content in the new Billing tab and help center.

In addition, the below changes in terminology will be reflected in your upgraded Billing tab. Keep in mind that despite the name changes, these billing methods will function the same as they did previously.

• Postpay is now called "automatic payments." We'll automatically charge you only after your ads accrue costs.
• Prepay is now called "manual payments." You can make payments to your account whenever and in whatever amount you like. Your ad costs draw from those funds.
• Direct debit is now called "bank account." Your funds will be debited from your bank account.

For more information on the new Billing tab, please visit the FAQ in the AdWords Help Center.

If you're interested in upgrading your Billing tab to the new system, please complete this form. Currently, only U.S. advertisers are eligible, but we’ll gradually increase the number of advertisers testing this updated Billing interface in the coming months and make it available to international testers. For eligible accounts, we’ll upgrade your Billing tab and send you an email confirmation to let you know that you can start using the new tab right away. However, we’re not able to guarantee that all interested advertisers will have their accounts upgraded at this time. Also, please note that if your account is upgraded to the new Billing tab, you won't be able to switch back to the previous billing interface.

Posted by Dan Friedman, Inside AdWords crew

Product Management

How long has it been since your institution did a review of your products?

Many times because of mergers, acquisitions, etc. the number of products offered just seem to multiply! Either the organization doesn't have the in house talent to properly map products during the systems conversion or they simply feel the best approach is to "grandfather" the acquired/merged institutions products meaning the products aren't eliminated but are no longer being sold after the acquisition/merger is finalized.

Other times, institutions continue to add new products to keep up with the competition without determining the impact on their existing product line up.

The net result is that the institution doesn't have the proper "linkage" in their product line up.

Overlapping features and benefits make it difficult if not impossible for the sales person to identify the "right" product to meet their customer/prospects needs. The result is a less confident sales force. It also makes it difficult for the customer/prospect when they start their shopping process to determine if your institution has the "right" product to meet their needs.

If the products have distinct non-overlapping features and benefits, the sales process becomes much easier. Sales training becomes much easier. Brochures and merchandising become more effective. Customer/prospect needs are met and the net result is stronger household relationships and increased household profitability.

If you need help determining the "right" number of products and the proper "linkage" between products for you institution, MarketMatch can help!

Have a great weekend!

Mike

Twitter Backgrounds

I talked about the importance of a professional-looking, creative background for your Twitter page in my last post. I provided a couple of quick go-to pages to find backgrounds, but came across this great list today that I wanted to share. 22 Websites for Free Twitter Backgrounds (provided by Geek Sucks...Get Inspired Website - funny name for a site but some pretty helpful stuff). I'm feeling inspired to give my twitter page a facelift. :)

Alternatives to Online Bill Payment May Drive Stronger Engagement

Research has shown that one of the strongest engagement tools for new and existing checking customers is to have the customer set up online bill payment. Unfortunately, even with aggressive 'switch' programs, the success banks have had trying to get customers to sign up for online bill payment has been less than overwhelming.

To try to simplify the signing up for online bill pay (and reduce first year attrition), some banks have moved to promoting the payment of bills using debit and credit cards. In the case of using a debit card, the payment still is taken from a customer's checking account and the process for signing up can actually be easier than with a traditional biller. In addition, using a debit card for bill payment can generate interchange income for the bank, rewards for the customer, and if the payment is recurring, it will not be subject to the new Reg E stipulations.


Chase Bank has done an excellent job of promoting bill payment using debit and credit cards through an online tool called Chase Payee Directory. With this tool, a customer can select the company they want to pay with an interactive directory.

With the goal of getting new and existing checking customers to use their checking account becoming as important as retaining the customer, these forms of moderate innovation will certainly become more commonplace.

Post August 15th

OK, Bankers. On July 1, Reg E goes into effect with all new accounts.

It effects your existing accounts on August 15. And your customers/members need to respond to your opt-in request by August 11 to not be effected at the deadline.

So what then?

You have been frantically trying to educate and motivate your customers/members to get a response to your opt-in requests, but are you planning your post-August 15 strategy? Here are some tips:

Be Proactive:

Despite your best efforts to educate your audience, you'll be amazed by how many complaints you'll receive when transactions are declined.

Communicate with ALL "opt-out" customers who are declined immediately. Email is ideal because of it's speed, a phone call is also fast (but more time consuming), use snail mail is necessary - heck even smoke signal if that's all you have!

• Explain that you acted according to their wishes
• Explain that you've attempted several contacts to notify of change
• Provide an opportunity to opt-in to avoid future declines

Prepare the front line staff and call center

• Reiterate the Reg E basics to your staff (they must be comfortable communicating about the regulation)
• Arm your staff with a list of (better yet, samples of) all Reg E materials sent to customers
• Provide staff the tools to help customers opt-in for future transactions
• Provide the questions your staff must ask to be able to recommend opt-in vs. opt-out

Add Opt-in to your On-boarding program

• New account customers who decline opt-in at first should receive communication within their first 90 days with your bank/credit union
• Simply provide "real world" examples of what can happen with and without overdraft protection

Don't ignore your opt-out customers

• Cross-sell alternatives to overdraft like lines of credit or savings sweeps

This is a Commercial/SEG opportunity

• Educate local merchants about Reg E and it's likely effects (this can be an invitation-only on-site seminar and/or your Commercial/BD staff can go on the road with meaningful information)

- Stick to the basics - you're not talking to regulators or compliance people here!

- Make sure it's clear that this effects ALL institutions, not just yours

• Provide merchants with material to give to customers who are declined so they can contact you to opt-in

Roughly 27.4% of non-interest income comes from NSF/Courtesy Pay - nearly half of that from POS and ATM transactions. I've talked to several institutions with millions of dollars at stake and we're weeks away from the deadline.

Take care,

Eric

Post-Transaction Marketing: Does Your Company Do It?

You may not recognize it by its name, but you definitely experience it. Once you purchase something from either an online or bricks and mortar store (for example, Amazon or Sears or Staples), and you have provided an email address, you will receive emails with “recommended” items to purchase that may correspond to your initial purchase. For example, if you purchased a book by John Grisham on Amazon, you would receive emails listing other books by John Grisham or other legal thrillers.

This is post-transaction marketing – and it leads to increased revenues if the customer does, indeed, purchase the recommended products. According to the U.S. Senate Commerce Committee, the most successful companies in post-transaction marketing during the last ten years are:
• 1-800-Flowers.com
• Expedia/Hotels.com
• Fandango
• FTD
• Hotwire
• MovieTickets.com
• Orbitz
• Priceline
• Shutterfly
• Travelocity
• US Airways

The repeat items comprising the list are flowers, movie tickets, and travel. Therefore, people are repeat buyers of these items. The emails that they receive from these websites and/or companies recommend products or services that are appealing, have a reasonable cost, have acceptable delivery time frames, and most importantly, have demonstrated a familiarity and level of service that the customers appreciate.

So, what about your company? Is post-transaction marketing part of your annual marketing strategy? Can it lead to increased revenues with limited upfront time and automated emails over the long term? Many businesses discuss ways to reach their customers, but post-transaction marketing offers an inexpensive option – especially since everyone welcomes recommendations. So, try it.

And so it begins...

Summer is here...

And so it begins!

The summer rush to enjoy the great outdoors, trips, family, baseball...its all about enjoying life and living each moment!  For you, your staff, AND your customers.

The need?  For you, your staff and your Bank/CU to put yourself in position to help your customers.  Debit cards, online banking, credit cards...even travelers checks.  I know, sounds very basic. However, it is also the moment of truth for you!  How?  Why?

Because you prove yourself OVER and OVER again to a customer...not just in the first 90 days, but each time they interact with you.  Do the LITTLE things well and the BIG things will come to you more often, faster and with less competition attached!

So, prepare your staff to be prepared to help your customers with the SMALL stuff...

Enjoy the start of summer...and enjoy watching your staff plant the service delivery seeds for a GREAT fall!

Cheers!

Bruce Clapp