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Onboarding

Onboarding New Customers/New Members for Banks and Credit Unions

When a customer or member opens their first account, you are presented with a unique, time-sensitive household growth opportunity. Direct marketing — particularly direct mail and email — is uniquely suited for this challenge by using constantly updated data to make communications personal, timely and relevant.

The primary objectives of a new customer/member onboarding campaign are:

  • Thoughtfully grow the number of relevant products and services used, resulting in higher satisfaction and improved retention
  • Optimize and accelerate profit impact through wallet share consolidation
Typically, your PROFITGENERATOR® onboarding program begins with a series of monthly targeted, multi-channel cross-sell messages designed to optimize both profit and retention in the first 120 days. After four months, households should become part of ongoing cross-sell strategies and programs.

Infusion utilizes a combination of constantly updated external (income and assets) and internal (product type and balance) data and analytics to accurately identify the financial needs of new households and their corresponding profit potential. Based on this data, Infusion assigns households to one of two groups:

  • Relationship segment (wider and deeper range of product revenue potential) or
  • Transactor segment (primarily fee-based revenue potential)
Businessmen shaking hands in office
The PROFITGENERATOR onboarding program includes detailed tracking reports measuring relationship expansion and retention, not just baseline product and service response rate metrics.
Each segment is targeted with most relevant communications. Both segments are updated and re-targeted monthly, based on product purchase or changes in financial status.
The PROFITGENERATOR onboarding program includes detailed tracking reports measuring relationship expansion and retention, not just baseline product and service response rate metrics.
The program is multi-channel and includes all expenses (except postage) and is monthly fee-based. Your financial commitment is month-to-month, with no long-term contract commitment.