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We Have an Activation Problem, Said the Bank Without an EMOB Plan


March 13, 2014
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Author: Nicole Johnson, Management Supervisor

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We have an activation problem. Its something we hear frequently, and its something that continues to surprise us. We work with many financial
institutions on lifecycle marketing initiatives, and the first thing we ask when presented with an activation problem is, Can we review your early
month on book (EMOB) plan?

And while this seems like a simple request, our partners are rarely able to share a strategic EMOB plan on paper. Many can speak to their EMOB
initiatives, but seldom are we able to get our hands on formalized plans that we can review and use to inform our recommendations. Why? Because
more often than not, formalized EMOB plans dont exist.

Speaking from our


Featured own experience, this is typically due to a myriad of factors, including (but, of course, not limited to):
Posts

EMOB is often thought of as driving a single one-time action (activation) instead of a phase in the customer journey that sets the stage for
driving usage and retention later in the customer life cycle.
More budget, time and resources are often allocated to acquisition, usage and retention initiatives.
Theres a lack of a single EMOB owner within the bank.
Various groups representing various products and services within the bank are all trying to get their message in front of new customers in an
unplanned, frenetic way.

All of these factors can add to a banks activation problems because they contribute to a diluted activation message and an unfocused onboarding
process. While many banks go right to creative as the root of the problem, the trouble often occurs before creative is even executed. It starts with not
having a formalized plan that maps out communication cadence, frequency, channels, tactics, messaging, segmentation and so on.
Creativeservices
As a financial Showcases
marketer responsible for helping clients with their activation problems, I recently read Forresters whitepaper, A Strategic
Approach To Onboarding Financial Service Consumers. While I found myself nodding in agreement as I read the full paper, I was particularly
interested in their POST methodology.
Basically, Forrester suggests we have to think about people, objectives, strategy and technology (POST) before we can define an effective
onboarding plan:

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While the POST Method may seem like a fairly obvious process, it is a codified process and as such, it provides a degree of discipline where it may
be lacking among financial services marketers responsible for the EMOB lifecycle phase. And although published for financial services onboarding in
2012, the method is timeless.

If you Featured Postswith a financial services marketing agency steeped in EMOB marketing (like Media Logic) to develop your strategic
plan to work
EMOB/onboarding plan, a review of this process will help prepare you for the type of information you will need to be armed with in advance.

If you are looking to create an EMOB/onboarding plan on your own, the POST Method is a good resource to add to your toolbox. Use it in conjunction
with marketing best practices to help formalize your banks strategy on paper so that you are no longer the bank without a plan and can begin to put an
end your activation problem.

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Tags: bank marketing, financial institution marketing, financial services marketing, Media Logic
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