Overview:
Merrimack County Savings Bank came to Pannos looking for a way to increase deposits in targeted demographics by way of an 11-month Certificate of Deposit special. They wanted to keep this offer exclusive to the targeted areas while promoting a different CD offer institution-wide.
Services used on this project
- design
- media
- web
Let the Numbers Tell the Story
19.8%
average open rate
2,706
total clicked links
$6.7
million in deposits
$71,886
average account value for the 93 accounts opened over 5 months
Project Goals
The Ask: Increase the number of new deposits at Merrimack County Savings Bank through use of a Certificate of Deposit special, specially targeted in areas that have a lower deposit market share.
The Answer: Advertise the 4.35% APY, 11-month CD special, available to businesses and consumers, in targeted areas through use of a 2-deployment eblast marketing strategy.
The Answer: Advertise the 4.35% APY, 11-month CD special, available to businesses and consumers, in targeted areas through use of a 2-deployment eblast marketing strategy.
Process
We began by determining the best delivery method for getting the word out to the identified target audiences. Pannos recommended supporting the bank’s ask of a traditional direct mail piece targeted at the area with a purchased eblast to those businesses and consumers likely to deposit money into a CD within the same zip codes as the targeted branches; existing bank customers were removed from the list.
As all assets were being developed, Pannos compared other CD rates in the area and worked with MCSB to revise the rate offer to be more competitive. Eblasts were deployed on behalf of the bank at the start of the campaign and again to correspond with when the direct mail piece was estimated to land in mailboxes. The eblast drove to a landing page where potential customers could call or find a branch location to open the special CD or view additional CD offers on the main website.
As all assets were being developed, Pannos compared other CD rates in the area and worked with MCSB to revise the rate offer to be more competitive. Eblasts were deployed on behalf of the bank at the start of the campaign and again to correspond with when the direct mail piece was estimated to land in mailboxes. The eblast drove to a landing page where potential customers could call or find a branch location to open the special CD or view additional CD offers on the main website.
Results
A successful, targeted eblast campaign that led to Merrimack County Savings Bank exceeding their deposit goal for the campaign!
Drop 1
16.6% open rate
1,030 link clicks
Drop 2
23% open rate
1,676 link clicks
Drop 1
16.6% open rate
1,030 link clicks
Drop 2
23% open rate
1,676 link clicks
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