Database Marketing Agency

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Database Marketing Agency
Private
Industry Financial Services
Founded Beaverton, Oregon (1996 (1996))
Founder Rich Weissman
Number of locations
3 (2010)
Area served
U.S. and Canada
Key people
Rich Weissman (President and CEO)
Website DMAcorporation.com

Database Marketing Agency (DMA) is a database company headquartered in Beaverton, Oregon. It is a provider of profitability systems to financial institutions in the U.S. and Canada that offer financial services in the forms of both retail banking and business banking. Banks in the U.S. are overseen by the Federal Deposit Insurance Corporation and credit unions in the U.S. are overseen by the National Credit Union Administration.

DMA offers its IDM Integrated Database Management System and research and analytic support to integrate profitability in management, finance, marketing, and sales. The DMA Institute Think Tank is its initiative for providing education and marketing research to the financial services industry.[1] DMA's IDM system, approach, measurement analytics, and strategic concepts provide a foundation for profitability, risk management and growth.[2]

History[edit]

Founded in 1996 by Rich Weissman (Richard Weissman), DMA's client base consists mainly of community banks and credit unions in the U.S. and Canada. Rich is a former Marketing Director for Bank of America, US Bancorp, and National Westminster Bank USA. He has spoken at several financial services conferences throughout the U.S., including those sponsored by the American Bankers Association, Western Independent Bankers (WIB), and others.

DMA has its headquarters in Beaverton, Oregon, a sales office in Florida, and a processing facility in Vancouver, British Columbia. Specifically, its headquarters is located less than one-half mile to the northwest of the TriMet MAX Light Rail Beaverton Transit Center or less than one-half mile to the north of the TriMet MAX Light Rail Beaverton Central stop, both serviced by the MAX Red Line and the MAX Blue Line.

Products and services[edit]

Integrated Database Management System (IDM) is an integrated enterprise system, where all database development, conversion, ongoing processing, and reporting is conducted at the DMA data center and accessed through cloud computing. Institutions can have complete access to their database through IDM OnLine tools and services. The company claims that the system is fully integrated with profitability and Profit risk at its core. The profitability-based analysis can identify concentrations in the income statement which can then be diversified for a sustainable income statement.[3] The IDM system can be a tool in creating a sustainable income statement.[4][5]

According to Bloomberg.com, CEOs of big bank] like Wells Fargo and Bank of America are in agreement with DMA's view that diversifying revenue streams by cross selling will be helpful in expanding business and turning profits.[6] The IDM system has profitability and Profit risk at its center and DMA was recognized by Credit Union Executives Society for its system.[7]

The Research and Analytic Services division of the company designs and manages marketing research projects with a variety of qualitative research and quantitative research tools, and primary research and secondary research methodologies. This division provides detailed analysis and recommendations with specific strategies and plans. The research and analysis division also designs and helps implement "Matrix Marketing" programs for segmenting the base on demographics, businessgraphics, incomes and other criteria to maximize results achieved from marketing programs.[8]

According to the company's CEO Rich Weissman in the Western Independent Banker (WIB) Magazine, similar programs can help in designing incentive programs that incentivize officers based on profitability and not volumes.[9] Clients are also using the software to more effectively price their products.[10]

The Institute focuses on research on the latest issues facing the financial services industry. Some of the Institute's offerings include webinars and articles in the industry publications. According to the American Bankers Association's Bank Marketing magazine, Rich Weissman who also heads the DMA Institute, coined the term "Profit risk" which combined with credit risk and ALM risk, forms the third critical component of risk management.[11] The Institute advocates the critical role marketing and sales can play by marrying itself with finance.[12]

References[edit]

  1. ^ Murphy, M."Think Tank CEO urges credit unions to take on the big banks"Credit Union Times; September 2009 http://www.cutimes.com/Issues/2009/September%202%202009/Pages/Think-Tank-CEO-Urges-Credit-Unions-to-Take-On-the-Big-Banks.aspx Retrieved 06-07-10
  2. ^ Campbell, Mary-Jane "Best Practices for MCIF Strategies" http://www.cunamarketingcouncil.org/download/campbell.pdf Retrieved 06-07-10
  3. ^ Weissman, Rich "Profit in the drink" ABA Bank Marketing;March 2009, http://www.thefreelibrary.com/Profit+in+the+Drink%3A+in+today's+recessionary+environment,+more+than...-a0221749129 Retrieved 06-11-2010
  4. ^ BAI Retail Delivery Presentation, www.bai.org http://www.bai.org/retaildelivery/summits-and-sessions/summits/sales-summit/Summit-Keynote-Next-Megatrend-For-Retail-Banking----Moving-From-a-Sales-Culture-To-a-Profitability-Culture.aspx
  5. ^ Rapport, Marc. "Bay Federal Credit Union CEO Shares Hard Lessons on Mining Member Data", Credit Union Times, October 27, 2010, retrieved November 8, 2010
  6. ^ Campbell, Dakin and Henry, David "Wells Fargo, BofA Push Cross-Sales as Loans, Investments Lag", Bloomberg.com, June 22, 2010 http://www.bloomberg.com/news/2010-06-22/wells-fargo-says-eight-is-great-as-banks-cross-sell-to-replace-lost-growth.html Retrieved 6/30/2010
  7. ^ Press Release "DMA honored in the financial services industry with the national CUES award for excellence:“Financial Supplier Of The Year Award” http://www.dmacorporation.com/dmarecognized/Award_CUESSupplierOfTheYear.html Retrieved 06-30-10
  8. ^ Joos, Ron "Spread the word" Credit Union Management Magazine; May 2009 ,Vol: 32 No. 5 http://www.cumanagement.org/archive/view/id/3031 Retrieved 06-11-10
  9. ^ Weissman, Rich "Incentive Programs for the New Decade" , May/June 2010 Western Independent Banker Magazine http://www.wib.org/publications__resources/article_library/2009-10/may10_weissman.html Retrieved 6-30-2010
  10. ^ Credit Union Journal. "Bay Federal Embarks on Mutual Profitability Plan", Credit Union Journal, October 20, 2010, retrieved November 4, 2010
  11. ^ Weissman, Rich "Profit Risk – The Third Leg of Risk Management” The Mortgage Press, December 2004 http://www.dmacorporation.com/dmarecognized/MortgagePress.pdf Retrieved 05/06/2010
  12. ^ Weissman, Rich “Bank Marketers Measure Profit Risk in changing times” , Michigan Bankers Magazine, March/April 2009, p 12-14,http://www.mibankers.com/publications/mbabanking.asp Retrieved 05/06/2010

External links[edit]