A Texas-focused community bank needed to grow deposits to fund its loan demand. At the same time, the bank wanted to grow market share – adding new deposit customers across its 22 established branches.
Bankers often believe direct mail doesn’t work and is too expensive. With FI Works, this community bank proved this presumption wrong. Using its powerful sales and marketing software, FI Works collaborated closely with the bank’s marketing team to develop a highly targeted direct mail campaign that really paid off.
Together, they decided on new deposit special offers that would attract new customers and FI Works analyzed the bank’s current customer data to understand how to profile the best targets in each branch’s market. FI Works also facilitated the campaign execution and recommended a single, cost-efficient mailer to position the most desirable deposit products based on the characteristics of each targeted customer.
The new deposit campaign was executed over a six week period and consisted of a single, standalone direct mail piece that was customized to come from each branch. Here’s how the campaign was executed: