Building Customer Loyalty with the Power of Online Communications

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Building Customer Loyalty with the Power of
Online Communications

• Jason Drobbin Jeff Mesnik
• Asst. VP, Marketing VP/Founder
• CitiStreet IMN

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Did you know

• There are 300 million1 accounts on myspace.com
• More than half are 35 years old
• Users average 180 minutes/month on the site
• BUT.
• 49 percent of adult Americans2 admit to have not
  paid enough attention to managing their finances

2Harris Interactive Survey, March 2007
1Wikipedia as of February 3, 2008
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Did you know

• Consumers need to worry about their financial
  future now!

Many Believe US Already in a Recession
Recession Hint Sends Stocks Down Sharply
U.S. woes still tug on world economies
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So how do we get people interested in their
financial future???
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Who are we?

• Premier global benefits delivery firm
• More than 16,000 defined benefit, defined
  contribution, and health welfare plan customers
• Customers are all sizes, industries, and market
  segments

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Challenge

• Develop a cost effective communication vehicle to
  reach a very diverse customer base
• Build customer loyalty via timely, informative
  communication
• Educate plan sponsors, advisors and consultants

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How?

• Market segmentation
• Different markets have different requirements
• Give them the information they want
• Timely information delivery
• Respond in real time to legislative/market changes

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Requirements

• Ensure message is being delivered and received
• Determine important content
• Click-through traffic analysis
• Better understand customer behavior
• Ability to develop/distribute messages quickly
• Easy-to-use
• Easy-to-navigate
• No need for IT support

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The Solution

• e-communication tool from IMN
• Shift from direct mail to online
• Hosted solution
• Includes content management, publishing/layout
  and various e-delivery options

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The Solution

• eNewsletters keep CitiStreet engaged with its
  intermediaries
• Keep them informed and educated on key market
  issues, legislative updates and CitiStreet news

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How it Works
Content submitted to IMN
CitiStreet develops content


CitiStreet loads content and distributes
electronically
CitiStreet receives detailed activity and
tracking reports
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How is CitiStreet Using IMN?

• Engaging plan sponsors, consultants and brokers
  with important targeted content about their
  industry
• Two e-newsletters
• e-LERT
• Sponsor Forum
• Multiple versions of each e-newsletter
• Utilizing reports to measure interaction

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How is CitiStreet Using IMN?

• Two versions issued monthly
• Corporate
• Government
• Knowledge tool to keep clients up to date on
  legislative issues

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How is CitiStreet Using IMN?
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How is CitiStreet Using IMN?

• Customer e-newsletter
• Six versions issued quarterly
• Industry news
• CitiStreet news
• Relationship building vehicle

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How is CitiStreet Using IMN?
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Results

• Keeping customers informed
• Develop trust/loyalty
• Keeping customers educated
• Share industry knowledge/expertise
• Giving CitiStreet relationship managers and sales
  people a communication vehicle

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Results

• Reporting/analytics provides CitiStreet data on
  readership and click-throughs
• What was viewed
• How long a reader stayed on a page
• Analytic data helps CitiStreet determine popular
  content
• Continue to fine-tune content based on popularity

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Results

• Majority of CitiStreet's sponsors familiar with
  newsletters
• Year-over-year increases in satisfaction with
  newsletter timeliness
• Increase in satisfaction with relevance of
  content - tied back to leveraging these tools to
  communicate the PPA of 2006
• Significant increases year-over-year in
  satisfaction with CitiStreet advising plan
  sponsors of compliance and legislative changes

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• Jason Drobbin
• Asst. VP, Marketing
• CitiStreet
• jdrobbin_at_citistreetonline.com
• www.citistreetonline.com

• Jeff Mesnik
• VP/Founder
• IMN
• jmesnik_at_imninc.com
• www.imninc.com