SkyOne Member Acquisition Soars During Pandemic Peak
Operating out of the Greater Los Angeles Area, SkyOne Federal Credit Union serves over 47,000 members with a range of financing services, including residential and car financing. A not-for-profit organization, SkyOne aims to provide members with the expertise and guidance needed to build a strong financial foundation and reach financial freedom.
SkyOne wanted to help their Concierge (business development) teams boost their lead generation and grow their client base. However, with the pandemic ongoing, in-person sales and events weren't an option. Their only route was to create a program that could drive online acquisitions remotely and attribute them back to each Concierge.
SkyOne was excited to increase lead generation and acquisition from their Concierge team by using personalized outreach and gift card incentives. They wanted members to directly refer friends and family to the Concierge team, build on the power of the personal Concierge relationship, and use digital capabilities to reach and convert prospects.
Exole created two programs to meet the specific acquisition requirements of SkyOne's business development team.
1. Refer Your Concierge – SkyOne members could refer their friends and family directly to their concierge and the service they provide. A straight path to the concierge enhanced the experience for the referred parties and empowered them to join.
2. Sales Welcome Offer – Concierges could promote their personal links to prospects; the latter then received a bonus for opening an account. This program simplified digital acquisition and traced the acquisition back to the specific business development officer.
Shortly after the implementation of Extole's two-pronged program, SkyOne saw impressive gains. They also discovered that referred friends are more likely to convert when members refer them directly to their concierge vs. to the SkyOne organization.
"WE DESPERATELY NEEDED A TOOL TO ASSIST IN THE AUTOMATION OF OUR REFERRAL PROGRAM. EXTOLE'S PLATFORM DID EXACTLY THAT AND MORE! OUR EVERGREEN REFERRAL PROGRAM HAS GENERATED HIGH-QUALITY NEW MEMBERS, AND WITH THE ADDITION OF THE CONCIERGE PROGRAMS, WE'VE BEEN ABLE TO ACHIEVE OUR BUSINESS DEVELOPMENT GOALS AS WELL."