Daily Credit Triggers: a Case Study2017-05-22T15:03:55+00:00

Project Description

DAILY CREDIT TRIGGERS

Objective:

To reduce attrition and grow balances by responding quickly to behaviors and events.

Analysis:

With a commitment to personal, timely and relevant marketing communications, this institution wanted to act upon behavioral information available through their MARQUIS MCIF system. The goal was to reach out to profitable customers, as well as those who had recent transactions or activity that might indicate a propensity for opening new accounts.

Action:

A MARQUIS strategist compiled a comprehensive list of potential triggers, spanning a wide range of behaviors and correlated marketing messages. The trigger events were programmed into the institution’s MCIF and linked with the MARQUIS creative department, for automatic, daily communications.

The letters include relationships building messages for top customers, reminders about inactive accounts, thank-you messages for new loans, birthday congratulations, and loan runoff notifications encouraging the recipients to apply for another loan. When the trigger event occurs, a letter is sent the next day.

Results:

Over a span of three months, the daily trigger program brought in direct balances of more than $3 million. With an overall response rate of 4.04%, the institution earned $4 in profit for every dollar they spent.

SOLUTIONS USED

MARQUIS OnTrax | MARQUIS Creative | MARQUIS MCIF