Shelburne, VT: Tim Williams of Shelburne has launched Exterus Business Furniture, a contract furniture dealer specializing in office, healthcare and hospitality furniture. Services include sales, customer service, consultation, space planning and design, as well as delivery and installation. Don Gill has been hired as a Sales Representative bringing with him 30 years in the office furnishing industry. Hours of operation: 8:00 am to 5:00 pm, Monday thru Friday. 4750 Shelburne Road, Shelburne, VT 05482. 802-383-1770. www.exterusfurniture.com(link is external).
Website Profit Calculator: What’s the value of your credit union website?
admin December 17, 2020 0 COMMENTS
If your credit union has over $100M in assets, your website should be generating millions of dollars. That’s why it’s important for credit unions to invest in their websites, especially during the COVID era when people are relying on digital channels. So, do you know how much your website is worth? We built a calculator so you can find out.Have you ever seen that video of Bill Gates playing The Price is Right with Ellen? It’s pretty hilarious how bad he is. He has absolutely no idea how much basic items like laundry soap or rice-a-roni cost. Of course, he doesn’t need to know—he’s got people to do his grocery shopping for him. But if you’re not a multi-billionaire, then knowing something’s value is essential. Especially if you help run a financial institution. All organizations that need to turn a profit to stay in business, including “not-for-profits,” need to know how much money their assets are generating.This is a lead capture form on Altavistacu.org. Forms like these help credit unions generate profits.I’m guessing you know which of your physical branches are the most successful. You know where most accounts are opened, which branch receives the most loan applications, and which branch is struggling. But what about your biggest branch, your digital branch? Are you as clear on the value of your website? We built a handy calculator that can help you quantify the profits generated by your website. With the right data, you can see what your website is worth and where to improve it. How to calculate the value of your websiteTo calculate how much cash your website generates, you’ll need to enter the lifetime values of your products and their conversion rates into our calculator. Lifetime ValuesThe lifetime value (LV) of a product is the total profit your credit union earns over the life of the loan or account. (Sometimes credit unions don’t have profitability data for every product. If that’s your case, you can calculate revenue instead of profit, which would still give you valuable insights.)Conversion RatesFor conversions, you’ll want to enter these numbers for all of your loans and accounts:Number of pageviewsNumber of click-throughs (clicks on your calls to action)Leads capturedApplications completed Applications fundedYou can get this data from your website analytics, origination system, and core system.This auto loan page has a clear call to action to “apply now”. As part of your conversion data, you want to track clicks on buttons like this.With this data, you’ll also be able to calculate the value of an application, lead, pageview, and session, which is extremely valuable for conversion rate optimization and digital advertising.Getting the data you need to make these calculations might take a little work, but it can help you make improvements worth millions. For instance, we ran the calculations for one of our credit union clients in California and discovered their website helps them generate over $5M per year.How the calculator can help you generate more profitsIf you know the value of your website and where it could be better, then you can calculate the value of improving it. For example, let’s say your credit union profits $3,000 per auto loan, 50% of applications are funded, and your conversion funnel looked like this last month:1,555 views → 245 clickthroughs → 152 leads capture → 97 apps. completedWith those assumptions, every time someone clicks the “apply” button on your auto loan page, your credit union makes $600. But only 15.8% of people are clicking “apply”. So, if you run some a/b tests and can increase that clickthrough rate by 50% (to 23.6%, which is reasonable), then you would increase profits by $73,500 per month ($882,000 per year). Now that’s bringing home some bacon, and that’s just for auto loans.Try out the calculator yourself. You’ll probably be surprised by how valuable your website is (or should be).Get the Website Profit Calculator 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Derik Krauss Derik is a cofounder of BloomCU, an award-winning website design agency for credit unions. His agency’s design work has received recognition from CUNA (Diamond Award), TheFinancialBrand.com, and others. He … Web: bloomCU.com Details
The bronze medal winners and fourth-placed team will receive N1million and N500,000 respectively.According to a statement released at the weekend by the Corporate Communications Director of CBN, Mr. Isaac Okorafor, this year, the preliminary matches will be played in Osogbo, Calabar, Makurdi and Jos. The quarter final matches are billed to hold at the same venues on Saturday, September 14, while the semi-finals have been scheduled for Nnamdi Azikiwe Stadium, Enugu, on September 18. The final of the competition will be decided at the Abakaliki Township Stadium, Abakaliki, Ebonyi State, on September 21.“In line with our tradition, the bank, working with the NFF, has also concluded plans to invite an ex-international to grace the final to serve as a major boost for participating teams. We therefore urge all the teams that are registered to participate actively and exhibit an unrelenting spirit of sportsmanship.“CBN remains committed to making positive contributions to the promotion and development of the game of football by sponsoring the competition annually, which is in line with the bank’s corporate social responsibility,” observed the statement from the CBN director.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram The 2019 edition of the All Financial Institutions Football Competition (AFIFC) sponsored by the Central Bank of Nigeria (CBN), in collaboration with the Nigeria Football Federation (NFF), is scheduled to kick off Sunday.The competition, which is in its 33rd year, continues to serve as a platform for the promotion of unity, harmony and peaceful co-existence among key players in Nigeria’s financial system.As in the previous year, 24 teams will compete for the ultimate prize of N2million while the runners-up will pocket N1.5million .