Promoting Local Banking with Strategic Email Outreach
Background
A local bank aimed to attract new customers by promoting its free checking accounts and other benefits of banking locally. The goal was to differentiate from larger national banks and appeal to the community’s preference for local services.
Objective
The primary objective was to increase the number of new checking account sign-ups through a targeted email marketing campaign, enhanced with consumer foot traffic data from competitor’s locations (CFTD).
Strategy
- Local Focus: Emphasized the benefits of banking locally and supporting the community.
- Targeted Audience: Focused on residents within the bank’s service area who were likely to be interested in local banking options.
- Visual Appeal: Designed visually appealing emails with clear, professional images and branding.
- Clear Messaging: Highlighted the specific benefits of the checking accounts, such as no fees and easy access to local branches.
- Display Advertising: Used CFTD to deploy targeted display ads, reinforcing the email messaging and reaching potential customers more effectively.
Results
- Enhanced Brand Perception: The campaign significantly improved the perception of the bank as a community-oriented institution, with a 65% increase in positive customer feedback.
- Increased Website Traffic: The compelling content and CTAs, supported by display ads, led to a 55% increase in visits to the bank’s website.
- Higher Engagement: The email open rates increased by 40% due to the targeted and appealing content.
- Customer Referrals: The campaign encouraged existing customers to refer friends and family, resulting in a 30% increase in new account sign-ups through referrals.
Conclusion
A local bank aimed to attract new customers by promoting its free checking accounts and other benefits of banking locally. The goal was to differentiate from larger national banks and appeal to the community’s preference for local services.