Case Study - U.S. Bank - Harte Hanks
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Smart banks
cash in on smarter
customer interactions.

 
Client:
Large Regional U.S. Bank
Project:
Integrated Customer Experience
Capabilities:
Data Analytics, Customer Journey Mapping, Marketing Opportunity Analysis, Content Creation and Production, Customer Experience Development, Program Optimization, Marketing Database, Multichannel Marketing, Website Development

The Challenge

 
In the highly competitive banking industry, regional banks face enormous challenges without the benefit of huge marketing budgets and resources that national banks enjoy. To remain profitable in a highly-connected era, our regional bank client realized they had to adapt to customer needs in more relevant ways, both quickly and cost-effectively. To attract new customers and improve loyalty, this regional bank needed a strategy that centered on the customer, that integrated all key channels, that leveraged smart personalization—and that helped to gain efficiencies while driving impact on the bottom line.
 
 

The SOLUTIOn

Together with our client’s senior management team, we acted urgently and immediately to develop a smarter customer interaction program—one that connects customers in deeper, more meaningful ways across nine different channels.
 
Conducted an opportunity analysis to identify specific opportunities within the client's customer base. Developed a series of models to predict each customer's next likely product or service purchase.
Created a lifecycle engagement program focused on acquiring, welcoming, growing, and retaining more customers. Developed content and creative specifically relevant to each customer’s needs.
Flawlessly executed the multichannel lifecycle engagement program using a combination of email, direct mail, landing pages, outbound telemarketing and phone follow-up. Managed communications across channels for a relevant, consistent customer experience at each interaction point.
 
 

The results

 
The development and execution of this holistic program was one of the quickest turnarounds in our history and reached unprecedented results within 3-4 months of launch.
After just one year, our program has already exceeded expectations, specifically:
  • Increased Retention. In the first 6 months of the program, the household attrition rate dropped 3.1%.
  • Increased Accounts/Household. 3.5% increase of accounts per household at the 6-month evaluation of the program.
  • Beat MROI Expectations. 1 year MROI reached 303% with pro-forma based on 166% for year one expectations.
303% ROI achieved in 1 year based on 166% expectation 343% increase of accounts per household within six months of launch
 
 
 

Understanding customer needs and delivering the exact marketing messages to meet them enabled our client to stay relevant in the new wave of mobile banking.

 
 
 
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