SourceLink, a premier multi-channel marketing services provider of results-driven solutions, announces an expanded suite of innovative data-driven technology that significantly improves retail marketing campaigns and client acquisition for financial institutions.
SourceLink takes a data-driven approach to achieve end-to-end marketing solutions. Using highly targeted data to pinpoint the ideal consumer, SourceLink leverages traditional and digital marketing channels to help retail banks acquire new customers in an efficient and cost-effective manner. This suite of tools features enhanced reporting with real-time campaign intelligence and ROI analysis.
The process starts with SourceLink's SMART™ modeling – a system that targets prospects with the highest propensity to respond in a local geographic region. SourceLink's Campaign Optimizer (CO) process then allows clients to construct multiple test cells combining variables such as offer, creative approach, list segment and geography. As a result, clients can better measure and evaluate the impact each variable has on the results of one test cell against another, as well as across the entire campaign. By testing multiple variables simultaneously, clients gain marketing insights faster and more efficiently than typically experienced with standard test/re-mail/rollout approach.
Once the target audience and test platform has been established, a cross promotion campaign is implemented, using traditional, digital and mobile channels integrated with micro-site landing pages.
Whether it's a $100 to open a new checking account or a preferred rate on a new home equity loan, prospects have a choice of response options. They may visit a branch, call a bank representative or go online to open an account and redeem the special promotional offer. Based on a prospect's preferred response channel, key information is captured through SourceLink's web-based Campaign Data Tracker (CDT) system. A unique reservation number links new account openings to the test cell, offer and response channel associated with each new customer for real-time data capture. Reporting is 100% verified through a database of unique promotional codes. Subsequent offer fulfillment is tied to each campaign's parameters and product usage requirements, all tracked and reported separately.
Along with the capture of unique promotional codes, results are further validated with SourceLink's new SUM (SourceLink Ultra Match) process. An independently validated, 18-step file matching algorithm is applied to mailing and newly opened account files for increased volume and more accurate assignment of results data. “SUM has improved the accuracy of matching mail and response files by a range of 30% to more than 80%,” says Judith Hemmel, SourceLink's Director, Customer Intelligence, “and has greatly enhanced our clients' ability to maximize their marketing investments, grow their client base and expand deposits.”
SourceLink's technology advancements help clients plan, execute and evaluate the results of their direct marketing initiatives faster and with more informed decisions at every step in the marketing cycle. Financial institutions using the system see higher response rates, better conversions and build deep customer loyalty, with a much improved customer experience. In fact, SourceLink's acquisition programs for financial services clients have averaged more than 400% ROI over the last three years.