A top 25 credit union needed to improve campaign performance and drive new membership and deposit account volume. Current marketing strategies were falling short of growth goals. They needed to drive more personalized consumer engagement. But they did not have the data model or the capability.
In the first six months we delivered:
Increased response rates with addition of digital ads
New deposit accounts within first 6 months
New loans in first 6 months
Cost for each newly generated account
* Industry Ave. $350We started by constructing an optimal audience strategy, using customized modeling, propensity scoring and predictive analytics. We developed a campaign drawing on proven response drivers and drawing on deep personalization afforded by our data expertise and audience strategy. We created a cross-channel direct mail and multifaceted digital strategy including display platforms, all structured around our audience, and where they could be found. Our measurement and reporting mechanism enabled more than campaign measurement; we tested our cross-channel campaign against a control group receiving only direct mail. The addition of digital ads had a 200% increase in response rate and the campaign generated 50% of all new checking accounts during the two-month cycle of this awarding winning campaign.
We started by understanding and defining the desired business outcomes down to three key metrics.
We developed this campaign in five essential steps:
* Credit Union National Association (CUNA) 2020 Diamond Award Winner.
Strategy
Data & Analytics?
Creative
Omnichannel