OnTrax: Strategies for Success: a $120m Institution Case Study2017-05-22T15:03:52+00:00

Project Description

ONTRAX: STRATEGIES FOR SUCCESS

Objective:

Increase communications with members to gain higher loan balances and increased products per household.

Analysis:

This $120 million institution wanted to develop a systematic communications program to deepen household relationships and increase their loan portfolio. The institution turned to a MARQUIS OnTrax consultant to develop a strategy.

Action:

Based on OnTrax data analysis, over 70% of households were selected to receive communications, with 26% receiving five or more communication touches. These included five ongoing monthly mailings – both onboarding and reboarding – as well as five loan-specific campaigns.

By reaching out to both new and established members, opportunities for relationship strengthening is increased. And by communicating consistently through data-driven programs, the institution has shifted to a more targeted, efficient, and effective model of marketing.

Results:

In just five months, the results have been impressive. On average, for every $1 spent, the client earned $2.34 in profit. Average account balances increased by 66%, single service households have decreased, and new account relationship building ratios increased by 14%. The OnTrax consultant continues to analyze results and provide reports to management.

SOLUTIONS USED

MARQUIS MCIF | MARQUIS Creative | MARQUIS OnTrax