Our Work: Essex Bank

Case Study

Essex Bank — Deposit Growth

This community bank was focused on building brand awareness, market expansion and deposit acquisition in a highly competitive southeastern market.

More Info
Essex Bank Logo

The Challenge

With limited branch footprint in a highly competitive market, this bank was looking to leverage their existing customer data to help target the best prospects in-market. Limited budget precluded a massive investment of TV, radio or print, so they turned to RMG looking for targeted solutions.

The Strategy

The bank had a strong customer base with robust information in their CRM. Using that data as our platform, RMG committed to leveraging existing customer data enhanced with additional demographic and psychographic data to build a propensity model – find most-likely responders. We felt the best approach was a saturation marketing within a 5-mile radius of existing branches to households with key response criteria; age, income, net worth, etc.

The Solution

Using our 100m normative data file to compliment the bank’s CRM, we identified the target households within the geo footprint created from our propensity response model. We developed eye-catching direct mail creative matched with an offer to motivate prospects to open a new checking account. The mailer included specific branch locations and maps for each mail piece. Approximately 20,000 pieces were mailed direct to households and generated a positive ROI for the program.

Essex Bank Creative Samples