Due to the opportunities of its structure and the emerging availability of data insights, a large multi-bank holding company asked SourceLink to improve the return on its marketing investment via a digital-only marketing campaign, a previously unexplored approach.
- Conduct a regional test to measure the incremental returns of a campaign delivered via digital media
- Clustering the branch trade areas into groups based on market similarities for a more fertile market plan
- Use predictive modeling to rank the most profitable and likely-to-respond mass and mass affluent prospects
- Launch a cross-channel campaign via on Google, Facebook, Instagram and display platforms – all with hyper-personalized messaging
- 78% Higher Checking Balances
- 49% More New Checking Accounts
- $2.27 Cost Per Click for Overall Digital Engagement
- $200 Acquisition Cost Per Checking Account (compared with an average of $350)
The full study is available for download here.