OnTrax: Strategies for Success: a $411m Institution Case Study2017-05-22T15:03:52+00:00

Project Description

ONTRAX: STRATEGIES FOR SUCCESS

Objective:

This $411 million financial institution wanted to build relationships with existing households, grow its loan portfolio, and increase market penetration within its only urban market.

Analysis:

The institution recognized the value of communicating with customers at various stages of account relationships. With a diverse target audience, a personal, targeted message was going to be a critical component of the marketing strategy for success.

Action:

After seeking help from the MARQUIS OnTrax and Creative Services teams, the institution launched a comprehensive campaign that used an OnBoarding matrix for new customers and a ReBoarding matrix that targeted single-service current customers. The campaign leveraged existing customer data to vary the communication
pieces. The segmentation schema was quite complex and divided the households into retail vs. business and urban vs. rural for each market area.

Results:

By all accounts, the complexity and level of sophistication of this program is proving to be a success. In the first nine months, the institution opened 1,479 new accounts with new balances totaling over $38 million. The margin ROI was 1421%, and the institution generated $705 in new balances for every dollar spent.

SOLUTIONS USED

MARQUIS OnTrax | MARQUIS Creative | MARQUIS MCIF