Infusion’s method of creating a comprehensive marketing strategy to grow your bank or credit union’s revenues and household relationships consists of the following phases:
- Household Data Analysis – It starts with a comprehensive examination of your bank customer or credit union member household data. This analysis standardizes, compares, and contrasts your data against Infusion’s bank or credit union Peer to Peer Statistical Normative database. The assessment of the data from your core, MCIF or CRM system is a comparison of your standardized metrics to the aggregated, standardized metrics of peer institutions.
The objectives of the Peer to Peer Normative analysis are:
- Identify your key product usage and profitability statistics
- Identify and quantify profitable product cross-sell opportunities and determine attrition risk
- Recommend multi-channel marketing strategies and tactics to effectively market your products to relevant households
More than 8 billion total data points have contributed to the Peer to Peer Normative, which is updated daily with fresh data from banks and credit unions across the country.
Opportunity Assessment – Upon completion of the normative comparison, Infusion develops and presents a comprehensive Opportunity Assessment report, revealing your strengths, weaknesses and risks, as well as recommendations to boost the growth of key products and services. A senior banking strategist delivers the analysis, key insights, and strategic recommendations. The Opportunity Assessment is designed to address concerns such as:
- How do my accounts per household compare to the “average bank or credit union”?
- What percentage of my total households were new in the last 12 months and how does that compare to the average?
- How concentrated are my consumer deposits and who has them?
- Is my overlap between deposit and credit usage normal?
- What do I do about the answers to the questions above?
Infusion can help you, utilizing a unique data analysis approach and proven multi-channel marketing campaign strategies and programs.
- Strategic and Tactical Plans – Based on your Opportunity Assessment, Infusion develops a 12-month multi-channel marketing strategy, product promotion plan, campaign calendar, and detailed financial proformas for each opportunity identified. The calendar and campaigns are flexible, allowing you to adjust quickly in response to evolving business objectives during the year.
- Campaign Execution – Infusion provides a one stop shop for multi-channel marketing campaign management and execution. Based on the results of more than 30 years of testing, tracking, analysis and refining, Infusion can develop your creative templates for you or work with your agency or internal creative teams, guiding them with time-tested product positioning and copy points. Once created and approved, Infusion produces and executes each campaign at no cost to you.
- Infusion Results Tracking Normative – From its inception, Infusion has tracked, captured and standardized results for every marketing campaign executed, for every bank and credit union served. Key metrics have been benchmarked, allowing a very accurate projection of your campaign results. The Normative contains years of historical data and more than 1 million data points, updated monthly. For each campaign executed through PROFITGENERATOR® you receive comprehensive tracking reports in 3 categories: Results Summary, Total Activity and Net Balance Change. This depth of reporting, combined with Infusion’s pay-for-results model, makes PROFITGENERATOR® 100% financially accountable.
- Pay-for-Results – You are then billed a one-time flat fee only for booked accounts that fall within the defined campaign window. You only pay for booked account openings in the promoted product category.
Utilizing a unique data analysis approach and proven multi-channel marketing campaign strategies and programs, Infusion can help you grow household relationships through carefully targeted and tracked cross-sell of your deposit, loan and transactional services, emphasizing both digital and in-branch engagement.