Pursue a data-driven approach to marketing2017-05-22T15:03:48+00:00

Project Description

Objective:

This $277 million financial institution wanted to pursue a data-driven approach to marketing, with clear benchmarks and results for upper management.

Analysis:

With tough competition in their local market, the institution needed to show results quickly. They were looking for expert guidance, achievable goals, and an efficient timeline to guide them through an MCIF setup, an expert data analysis and the implementation & management of targeted direct mail programs.

Action:

The institution took advantage of the MARQUIS 120-day marketing plan, which comes with a money-back guarantee. A MARQUIS consultant developed an ambitious, yet achievable, written plan, leading the institution’s marketing team from initial system setup to a fully implemented direct marketing plan in just four months.

The active direct mail programs include onboarding, reboarding, new product and most valuable mailings, enabling the institution to communicate with clients at various levels of engagement while also encouraging new account openings across a range of products.

Results:

The direct mail campaigns quickly achieved impressive results, with new balances of $17,520,846, an overall ROI of 470% and a response rate of 10.57%. The institution earned $5.70 in profit for every dollar they spent, easily surpassing the MARQUIS guarantee.

 

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