Increase product penetration among new households.
The $660 million financial institution was bringing in new households with a 32% single service rate. Moreover, several months after coming on board, 88% had two or fewer products.
A multi-channel, multi-flight onboarding program was implemented, using letters and emails to communicate with new households based on their current product usage. Key intelligence from MARQUIS OnTrax was channeled directly through the MARQUIS Creative Team for seamless execution.
Over a 12 month period, the financial institution gained new balances of $14.9 million. The overall response rate was 10.32%, with an 865% ROI. Additionally, the single service rate decreased and the number of new households utilizing three or more products increased.
MARQUIS OnTrax | MARQUIS Creative