Cross Sell Case Study
A conservative regional lender with 47 branches and 38,000 consumer households engaged Infusion to develop marketing programs to increase consumer loan growth. After the Infusion Opportunity Assessment was presented, the bank proceeded with quarterly consumer loan campaigns, leading with home equity.
After completing the first year of marketing campaigns, the Infusion client realized a 48 percent gain in total home equity households and a 67 percent gain in outstanding equity balances. Home equity growth was driven exclusively by expanded product usage among pre-existing households, which was the focus of the marketing program. In fact, the number of brand new home equity households actually dropped 26 percent from the prior year, proving growth came exclusively from Infusion target segments. Equity penetration of deposit households also grew 45 percent and penetration of mortgage households grew 25 percent.
During the first year of the program, Infusion campaigns produced 503 loans/lines of credit with $30 million in balances. Responders opened an additional 259 accounts during campaign tracking windows. Campaign response volume fits like a puzzle piece into the bank’s year over year growth.