Turning Around a Failed Campaign to the Highest Performing Campaign
The Goal & The Obstacle
A major printer was working with a large regional bank on their latest campaign. The bank wanted to acquire new customers and was offering free checking accounts. This wasn’t the first time the bank had made this type of offer, but they were worried about this campaign. In the past, the campaigns always seemed to fail. In fact, this was their first attempt to try this offer in several years because the last one had performed so poorly. The printer really wanted to help their client succeed, so they brought in their data analytics partner AMP to help with the prospect list.
AMP excitedly took on the challenge of helping this printer and regional bank. We analyzed millions of records and created MicroModels® for each of their locations, so we could see exactly what was going on with their current customer base.
With over 1600 locations, the bank’s customers’ demographics and behavioral data differed greatly from location to location. We were able to give the bank a clear view of each branch and removed those least likely to respond from their mail list. We selected records that were most likely to respond and sent them over to the printer.
After the campaign, the regional bank came back and said “Those were the best results we have ever gotten!” This direct mail campaign had outperformed all of their other marketing efforts. We took the campaign results and did a response analysis. We removed non-growth branches that simply weren’t responding and increased the bank’s results by an additional 40%!