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Home Case Studies Banking client turnover: A targeted approach
A woman in a yellow suit and sunglasses walks outside a glass building, phone in one hand and coffee cup in the other. Her targeted approach to morning routines shines through as the sun casts reflections on the glass around her.

Banking client turnover: A targeted approach

A financial services firm was losing 200-300 of its business banking clients each month and needed to renew its focus on retaining clients.

Impact

The multi-channel marketing approach exceeded the client’s expectations, resulting in new opportunities, increased revenue, and a 17:1 return on investment (ROI).

Industry

Financial services and insurance

Problem space

Channel engagement

Services

Multi-channel marketing

Research and data analytics

Recognition

Stop attrition in its tracks

A financial services firm was losing 200-300 of its business banking clients each month and needed to renew its focus on retaining clients. Its goal was to minimize attrition and drive growth by engaging targets via zero-party data collection and one-on-one conversations with bank relationship managers. The ultimate goal was to renew and deepen those client relationships.

A multi-touch approach

We developed and delivered a multi-touch reengagement campaign to C-Suite decision-makers to build awareness and motivate reengagement behaviours through multiple touchpoints. We also rewarded them if they completed a survey. The touchpoints included:

  • Launch outreach: email
  • Non-responder outreach: email and direct mail kit
  • Online client surveys
  • Gifts awarded for survey completion

Exceeding growth expectations

The campaign exceeded the client’s expectations. The combination of touchpoints had a positive impact, with 134 new opportunities identified, over $1.6M in new business, 58 business solutions won, and an ROI of 17:1.

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