Community bank experiences significant growth through data-driven cross-sell campaigns
Little Rock, Arkansas, November 8, 2017 – Infusion, a provider of data-driven, omni-channel direct marketing campaigns that generate strategic growth for community banks and credit unions, announces the results of Fidelity Bank’s cross-sell marketing campaigns.
Fidelity Bank is a community bank headquartered in Wichita, Kansas with 23 locations spanning Kansas and Oklahoma. The community bank has worked with Infusion since 2010 and uses the Infusion Onboarding, Cross-sell and Prospecting programs. One year ago, Fidelity Bank implemented Infusion’s ProfitGenerator® cross-sell marketing program focused on checking, savings and eServices accounts. The cross-sell program has resulted in:
- Over 1,500 responses from targeted account holders;
- Over $20.1 million in account balances generated;
- Over 200 “halo accounts” opened in which responder households opened additional deposit or loan accounts during the campaign in which they responded;
- Product marketing return on investment (ROI) of 321 percent.
Fidelity Bank’s cross-sell program uses Infusion’s ProfitGenerator® pay-for-performance model, in which financial institutions are only charged when pre-determined, measurable results have been met. The bank’s campaign responses surpassed the program’s annual cap on Infusion expenses, resulting in over 130 new “free accounts”.
“Infusion has been instrumental in the growth of our financial institution,” said Katie Grover, senior vice president of Marketing at Fidelity Bank. “Our relationship with Infusion is a true partnership and has enabled us build and expand relationships with our customers.”
“Infusion’s relationship with Fidelity Bank continues to prosper through our data-driven marketing programs,” Tim Keith, co-founder and chief strategy officer at Infusion. “We work to ensure each campaign achieves maximum results for the financial institution and take into account the institution’s particular needs, whether it is an onboarding, cross-sell or new household acquisition.”
Headquartered in Little Rock, Arkansas, Infusion uses data analysis and proprietary industry normative data to create and execute multi-channel marketing campaigns that generate strategic growth for financial institutions. The Infusion ProfitGenerator process and corresponding campaigns are used to grow deposits, loans and transactional fee income at small and medium sized banks and credit unions. For more information, visit http://www.profitgenerator.com/.