One of the largest marketing agencies in the country took on a brand-new client – a bank. The bank was struggling to acquire new customers and wanted the agency to help them come up with a new plan. In the past, they had tried saturation courier route mailings and averaged 20 basis points. They decided to offer free checking to new customers, and the agency brought in AMP to help with the data list.
AMP knew it was important to look at each of the bank’s branches individually since they had gone through several mergers. Using our MicroModeling® tool, we created a model for each of the 450 branches. This allowed us to examine their customer database as well as the universe of prospects they were pulling from. Knowing what the market looked like for each branch, we were able to not only recommend which prospects would be the most likely to respond but how many mailings the bank should send out for each branch.
Instead of sending out 5,000 or 10,000 mailings for each branch, the bank and the agency had a customized list which took into account the changes in demographics for each market. By removing those least likely to respond from the list, they were able to make their marketing dollars count by focusing them on those most likely to respond.
The bank and the agency were thrilled with the campaign’s results. They said they were the best results they had ever received. Within 12 months, we increased their campaign results by 252%. The bank continued to improve results year over year.