The Power of consistent email marketing.
This $630 million financial institution wanted to leverage the power of e-mail to generate new loan balances and boost profitability.
The facts of today’s marketplace are undeniable. Seven in 10 Americans use e-mail daily. Three out of five adult Americans have a smartphone, and use it to check e-mail. And two in five e-mail recipients make at least one purchase a year based on a promotional e-mail. Recognizing this trend, the institution wanted to see if a campaign based on e-mail alone could generate strong client response and boost the bottom line. The results exceeded everyone’s expectations!
Their MARQUIS consultant developed a campaign using daily credit triggers to identify creditworthy individuals. Each recipient was sent a targeted e-mail, and versions included offers for automobile loans, credit cards, and personal loans. A total of 1,764 personalized e-mail offers were sent over a three-month period. So what was the result?
In just 90 days, these e-mails achieved a response rate of 8.50%. These responses generated more than $2.6 million in new loan balances. In three months, this generated a profit of more than $67,000 at a cost of just $6,299 — that’s an ROI of 1067%! This means that for every $1 invested, $10.63 in profit was generated as a result of the targeted marketing efforts. Combining the responsiveness of daily credit triggers with carefully targeted e-mail is proving to be a winner for the client and the financial institution.