Data Analytics: a $852m Institution Case Study2017-05-22T15:03:55+00:00

Project Description

DATA ANALYTICS: ONTRAX CONSULTING GENERATES SOLID RESULTS

Objective:

To leverage MCIF data analytics to attain loan, deposit, and market penetration goals.

Analysis:

A new Vice President at this $852 million financial institution wanted to strengthen their marketing reach and ROI through targeted communication, strategic analysis, and precise data tracking. In addition to improving marketing efficiency, the client wanted to demonstrate marketing’s role as a revenue generator rather than simply a cost center within the institution. The FI turned to MARQUIS for help in developing a strategy to leverage underutilized data analytics in MCIF to maximize the value of their marketing effort.

Action:

Working with their MARQUIS OnTrax consultant, the institution developed a detailed marketing plan to better utilize MCIF data. The first year focused on launching a six-month onboarding program; the second year expanded to include onboarding, reboarding, and a campaign centered on five specific loan programs. The plan included a retention effort thanking their top 10% most profitable clients for their loyalty.

Results:

All elements of the strategy were highly successful:

The Onboarding Matrix Program saw a response rate of 18% and brought in $10 million in new balances

The Reboarding Program brought in $8 million in new balances, with a response rate of 18% and a return of $5.10 for every dollar spent

The Loan Campaign netted $73 million in new loans, with an 8% response rate and a return of $13.83 for each dollar spent

The Top 10% Retention Campaign had a response rate of 38%, with an increase in balances of $86 million

SOLUTIONS USED

MARQUIS MCIF | MARQUIS OnTrax | MARQUIS Creative