Expand the bank’s relationship with existing customers.
With 75% of new households maintaining a single product, the $9.7 billion financial institution was missing out on relationship building opportunities and facing a high attrition rate. A strategy was developed to solidify and retain these relationships.
The MARQUIS OnTrax consultant analyzed the MCIF data and recommended a series of targeted product offerings. Highly branded, informative letters were developed, with headlines and photographs varying by lifestage. Each letter included specific branch information, making it easy for recipients to contact their branch manager directly.
The very first mailing had a response rate of 6%, generating 315 new accounts and more than $7.7 million in new balances. The bank currently has nearly 100 other data-based projects completed including reports, tracking, mapping and data analysis.
MARQUIS OnTrax | MARQUIS Creative | MARQUIS MCIF