Picture of Clara Hori Written by Clara Hori
on February 28, 2024

In today's competitive landscape, financial institutions (FIs) face the constant challenge of growing their loan and deposit accounts. One effective solution lies in embracing technology—specifically, marketing automation. This powerful tool can streamline campaigns, enhance efficiency, and significantly boost promotional activities.

This article offers an overview of how FIs can leverage marketing automation to grow their loan and deposit accounts, touching upon strategies, benefits, and practical examples.

The Basics of Marketing Automation

Marketing automation involves using software to automate marketing actions. In the realm of finance, this means managing and executing campaigns more efficiently, allowing for more strategic and targeted audience engagement. Automation tools can schedule emails and text messages (SMS), display banner ads, segment contacts, and track the success of marketing campaigns, all of which are crucial for financial institutions’ growth.

Benefits of Automation in Marketing

1. Time Efficiency

Automation frees up valuable time by handling repetitive tasks, allowing marketing teams to focus on strategy and member service. This also allows for multiple campaigns to run simultaneously targeting different audiences.

2. Consistency

Regular and consistent communication is key in maintaining strong durable relationships. Automation ensures that messages are sent out on time, every time and to the right audience.

3. Personalization

Utilizing consumer’s data, automation tools can craft messages that resonate on a personal level, increasing the relevance and effectiveness of marketing efforts.

4. Scalability

As the bank or credit union grows, so too does the volume of its marketing activities. Automation tools scale these efforts effectively without compromising quality.

Strategies for Automating Loan and Deposit Promotions

Effective automation hinges on using consumer data intelligently. Segmentation allows for targeting specific audience groups with tailored products, enhancing the likelihood of engagement. For instance, young members might receive promotions about first-time auto loans, while older members might see more about retirement savings plans. Trigger-based campaigns can send automated messages based on member actions or life events, such as loan application follow-ups. Cross-selling becomes more strategic with automation, identifying when members might be interested in additional products like HELOCs or credit cards.

Examples of Automated Campaigns

A welcome series for new members can introduce them to various services and products. These automated emails can lay the foundation for a lasting relationship. For those who apply for loans, follow-up emails can provide additional information or encourage them to take the next steps. Time-sensitive deposit offers, like special CD rates, can be promoted effectively through automation, reaching members exactly when they're most likely to act.

This has been the case of a credit union in Oregon, that increased engagement by 500% with a series of targeted campaigns.

Integrating Automation with Overall Marketing Strategy

While automation is powerful, it should complement, not replace, the overall marketing strategy. It's crucial to align automated campaigns with broader marketing goals and maintain a balance between automated and personalized interactions. Members still value human connection, so it's important not to lose that personal touch.

Measuring the Success of Automated Campaigns

Tracking metrics such as open rates, click-through rates, and conversion rates is essential in measuring the effectiveness of automated campaigns. A/B testing different elements like subject lines or email content can provide insights into what resonates best with your audience. This data should be used to continuously refine and improve automated strategies.

Challenges and Considerations

While automation offers many benefits, it also comes with challenges. Data privacy is a significant concern, and both banks and credit unions must ensure they are compliant with regulations like GDPR or CCPA. Keeping up with evolving technology and marketing trends is also crucial for staying relevant and effective.


Marketing automation is not just a trend; it's a strategic tool that can significantly contribute to the growth of loan and deposit accounts in financial institutions. By leveraging the power of automation, banks and credit unions can enhance their marketing efforts, providing more personalized, efficient, and effective experiences.

Now is the time to review and integrate marketing automation into your strategies. Embrace the technology to not only meet but exceed your audience's expectations and drive your credit union's growth.



Image credit: Adobe Stock