Multichannel Marketing Success Story

August 15, 2019 RRD, RR Donnelley

Challenge

One of the largest banks in the country, with more than 2,000 branches and 2,600 ATMs across 20 states, was tasked with achieving a better ROI on their marketing initiatives while improving segmentation, messaging, and overall impact. They faced several key challenges:

  • Marketing communications were siloed and coordination was difficult
  • Content strategies were driven by product needs, and were not focused on individual customer needs
  • An inability to ensure that the most relevant messages were reaching the right customers
  • Their most valuable customers were not being treated as such
  • The focus was on measuring product success, not customer success

Solution

Our three-phase approach successfully addressed each challenge:

  1. Develop a framework to identify relationship objectives for every customer segment:
    • High, medium and low opportunities, driven by affinity and potential
    • Specific objectives outlined for spend, frequency, channel
  2. Determine the best, most relevant message for each sub-segment of customers
  3. Implement a triggered marketing program to identify and prioritize customers most likely to purchase additional products

Results

  • 146% ROI in the 1st year
  • $3 million revenue gain
  • Customer segmentation strategy leveraged for ongoing initiatives
  • More relevant and impactful messaging
  • Analytics-driven optimization
  • Marketing investments aligned with most valuable prospects and clients

 

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