OnTrax: Targeting Existing Customers: a $1.1b Institution Case Study2017-05-22T15:03:51+00:00

Project Description

ONTRAX: TARGETING EXISTING CUSTOMERS

Objective:

To increase loans and deposit accounts

Analysis:

This $1.1 billion institution wanted to grow its loan and deposit portfolio among its existing clients. Very little direct marketing had been done with these proven customers. Established relationships can provide growth opportunities when an organization anticipates customer needs and responsively offers products to meet them. They turned to MARQUIS for help in creating a strategy to meet their goals and better serve their membership.

Action:

With the help of their MARQUIS OnTrax strategist, the institution developed a comprehensive data-driven marketing plan to meet its objectives. In the third quarter of 2011 they began with a custom direct mail program developed by MARQUIS Creative. Encouraged by the initial results, in 2012 they launched a full implementation of the plan developed by their MARQUIS consultant. This effort continued in 2013 with the addition of credit triggers, loan recaptures, and relationship building campaigns.

Results:

To date, the institution has gained 3,984 new deposit accounts and added 1,906 new loans to its portfolio. With a response rate of 8.22%, the overall ROI was 1,156%.

Implementing a targeted strategy generated new deposits of more than $44 million and new loans of more than $39 million. In addition to meeting its financial goals, the institution found a more effective way to anticipate and respond to the needs of proven customers.

SOLUTIONS USED

MARQUIS OnTrax | MARQUIS Creative