Consumer Household Growth
Kickstart your growth objectives in less than 1 year
We turned a bank’s flat growth and increased attrition into meaningful returns, even as they were closing and consolidating branches.
Challenge:
A super regional bank was experiencing flat new consumer household growth year over year coupled with accelerated attrition. They were looking for a partner to help them build and execute an annual marketing program that would quickly kickstart their growth objectives.
Solution:
Our team partnered with the bank to develop a thoughtful and strategic annual, integrated marketing plan that would leverage multichannel execution with both weekly trigger-based outreach and traditional batch marketing – an approach that would jumpstart their new to bank growth as well as to create a consistent pipeline of leads for the branch managers to work throughout the year.
In addition, to help rein in the increased attrition rates they were seeing, we built proprietary targeting models using advanced AI-powered analytical tools to identify and thus significantly reduce some of the incentive gaming behavior that was causing the increased attrition.
Despite closing branches during this year, using our marketing strategies, the bank was able to surpass their household acquisition goal with a 45% production lift.