See how value-added content helped one bank lift its email metrics.
Sometimes, all of your marketing efforts are going just fine, and yet … you have a gut feeling that they could be better. Such was the case for a major Midwestern bank. Their email metrics weren’t necessarily bad. But they weren’t stellar, either. The bank was sure it could boost open rates and click-throughs. But how?
CCG suggested a test: The bank’s current marketing email vendor, with its traditional promotional approach, against CCG’s value-added content.
Here’s the thing: Your customers already know that you have financial products. So they don’t really need (or want) communications telling them that you offer loans, checking accounts and competitive interest rates. What they do want is help with the financial dilemmas they face every day.
That’s the guiding principle behind value-added content: Providing customers with information that they want and need to address their financial concerns. In the process, customers begin to see your bank as more than the place where their checking account lives. They see you as a resource where they can turn for assistance with multiple aspects of their financial life.
With this approach, value-added content has proven to drive engagement or, in terms of email metrics — open rates and clicks.
The bank split its customer base into two groups. The control group received the current vendor’s traditional email marketing, as usual. The second group received an e-newsletter, which included an email with story teasers linking to online articles. Those articles were value-added content, addressing such questions as how (and why) to improve credit and manage debt.
On that first head-to-head test, the email featuring CCG’s value-added content posted a 39 percent lift in unique open rates and a 258 percent lift in unique clicks.
The bank’s other vendor wanted another shot. So the bank agreed to a second test, with that vendor’s value-added content against CCG’s. This time, the CCG content led to a 146 percent lift in unique clicks.
The bank was convinced — and continues with its newsletter approach to this day, engaging customers, building relationships and staying top of mind when customers are ready to act.