Independent Banker - July 2020 - 59

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The global pandemic has touched virtually every aspect of
consumer life, prompting them to evaluate which service
relationships truly provide value to them in their transition to
the " new normal. " They also need to know that their financial
institution will be there for them when they need it most. Now
more than ever, financial institutions will need to deliver an
experience that meets the changing needs of customers. Those
that do will be rewarded with new business and greater loyalty.
cross-sell messaging
that was tailored to each
recipient.
Harland Clarke applied
these refined lists to
its variable data direct
mail solution to provide
personalized messaging at
saturation pricing.
$56.4 million total
balances | $2.04 million
net interest revenue | $36 cost per new account
For the first time in two years, the institution's new checking
customers outnumbered those who left. In the campaign's first
three drops, response rates increased an impressive 20 basis
points (BPS), from 25 to 45. In just 54 days, AcquisitionCX™
generated 1,795 new checking households, including nearly 1,250
new-to-bank households, at a cost of only $36 per acquisition, an
81% decrease from the previous campaign.
Exciting early returns hinted at the campaign's long-term success,
which produced an astounding two-year average ROMI of 2,728%
and total balances of $54.6 million.
One financial institution seeking to rebound after a failed
checking acquisition and cross-sell campaign decided it was
time to invest in a solution that would help them deliver relevant,
personalized experiences. After incurring an unsustainable cost
per acquisition of $190, the institution chose AcquisitionCX™ from
Harland Clarke.
AcquisitionCX™ helped the institution drastically reduce its
checking acquisition costs while delivering exceptional response
and remarkable return on marketing investment (ROMI) by
dissecting consumer profile data from the institution's previous
campaign to identify top prospects who are most likely and willing
to respond.
AcquisitionCX™ layered consumer, demographic, behavioral,
purchase potential and other data to offer a unique view of
prospects and customers for more targeted acquisition and
1,795 new checking households in 54 days | 1,250 new-tobank
households
In addition to a drastic reduction in acquisition costs and
improved performance, the financial institution is well positioned
to meet the changing and urgent needs of consumers. Providing
personalized, relevant messaging and needs-based cross-sell
demonstrates to customers that their financial institution is there
for them now and will be into the future.
To find out how Harland Clarke can help your financial institution
improve acquisition marketing results, call 1-800-351-3843,
email contactHC@harlandclarke.com or visit
harlandclarke.com/AcquisitionCX
Institution size, assets, campaign results and statistics based on client data.
Many variables impact marketing campaign success. Information on earnings
or percentage increases that is contained within this case study is provided for
demonstrative purposes only. Harland Clarke does not guarantee or warrant earnings
or a particular level of success with a campaign. AcquisitionCX™ is a trademark
of Harland Clarke. All marks are the property of their respective owners. All rights
reserved.
contactHC@harlandclarke.com
harlandclarke.com/AcquisitionCX
800-351-3843
http://www.harlandclarke.com/AcquisitionCX http://www.harlandclarke.com/AcquisitionCX
Independent Banker - July 2020

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