A Regional Bank was looking at new ways to attract new members in an effective manner and increase their membership base with a new customer demographic.
The Bank has several branch locations and each location needed to not only increase bank membership counts, but to mainly increase members that were 35 years old or younger.
There were a few capabilities that the Bank did not inherently have the following capabilities that prevented them from implementing an effective marketing strategy:
- Unable to identify the key demographic attributes of the surrounding communities of each of the branch locations
- They did not have the technology capability to perform targeted digital marketing campaigns
We worked with the Bank to define what new member attributes they believed would be their ideal member profile and created look-alike personas.
Once this was completed, we developed a digital marketing strategy to target that specific audience.
We implemented contextual marketing campaigns that targeted the 35 and under demographic in the following manner:
- Programmatic display of ads that dynamically followed each audience persona’s online behavior
- Retargeting campaigns that encompassed website visits and email drip campaigns
- Geofenced a 10 mile radius around each branch
Our contextual marketing coupled with our geofencing program provided the Bank with the following results:
- Increased the number of ad impressions served by 50% while maintaining the same digital budget they had prior to us coming in
- Clickthrough rate increased by 400% using modeling and radial caps for each branch
- Added an average of 20 new members per month per branch within first 3 months of campaign launch