Synchrony Bank

engaging the Millennial audience

Banking the next generation

the challenge

This new bank wanted to kick-start the brand to underserved or unbanked Millennials with an interest in initiating a new online banking relationship.

Millennial friends on a hiking trip celebrate reaching the summit and have fun posing for photos

the challenge

Recognizing the dramatic shift to tablet and mobile banking, the bank wanted to significantly reduce the average age of their customer base while launching a series of new products and services – all while not alienating their historically more mature customer base.

the strategy

Data was critical in defining our core audiences as well as identifying our new audience. Starting with segmentation of the existing customer base, we utilized models to help predict likely customers within the top 4 segments. We used the data analytics to assist us in developing messaging and offers and building our test and learn strategy.

the solution

We developed a twelve month test and learn plan that validated our data models and analytic strategy. A multi-channel marketing strategy was employed based on demographic and psychographic data of the targeted segments. From that roadmap, we created sub-segments with offers and messages designed to test responsiveness to various campaigns and better define channel preference.

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