Understand the opportunities, customer base, and potential growth of various markets.
In late 2009 the $110 million financial institution’s marketing department had its budget cut by 35%, necessitating more targeted, efficient communications.
A Market Area Analysis was developed based on the financial institution’s seven branches. Recommendations for retention and acquisition were made for marketing campaigns that would hit the right audience with the right products. Trigger based programs and prospecting campaigns were also developed.
The financial institution has seen an increased response rate, with a weighted average ROI of 1,600% for 2009. There has also been a drastic decrease in the number of direct mail impressions, allowing the institution to maximize the use of their marketing dollars.
MARQUIS OnTrax | MARQUIS MCIF