Key CCG Services

  • Database Analysis
  • List Selection
  • Creative Services
  • Strategy

Situation

A large regional bank wanted to find more effective ways to generate new accounts and deposits. They decided to test direct mail as an acquisition vehicle for checking accounts, a medium they had not previously used for this purpose.

Approach

CCG developed and implemented a testing strategy that would allow the bank to explore the effectiveness of direct mail, in general, as well as specific variations in list, creative format and mailing strategy.

List. CCG analyzed the bank’s data and assisted it in selecting a mailing list. All bank customers already having checking accounts were removed from the list.

Format. CCG developed a testing strategy to determine which mailing format — a #10 package, a postcard or a combination — would be most effective.

Mailing Strategy. CCG developed a testing strategy to determine if running other forms of media at the same time, such as newspaper advertisements, would complement the direct mail and improve results.

CCG tested the impact of the direct mail campaign in multiple geographic markets for each cycle.

Results

Campaign results showed that direct mail is a viable source of acquiring accounts and that the right combination of components in the campaign could improve results in excess of 25 percent.