Targeted Direct Mail Program for a $227m Credit Union 2017-05-22T15:03:07+00:00

Project Description

OnTrax

PROFESSIONAL CONSULTING. MEASURABLE RESULTS.

Objective:

An effective written plan to establish a targeted direct mail program within a tight deadline.

Analysis:

This $277 million financial institution needed a competitive edge to reach its objectives. They wanted a data-driven approach to focus their marketing efforts, so they turned to MARQUIS for help. The institution needed to show results quickly, so establishing an achievable schedule and ensuring on-time execution was vital. Developing and executing an effective written plan, with milestones and responsibilities clearly spelled out, was the key to getting the job done.

Action:

As soon as MARQUIS signed the agreement with this institution, their strategist set up an on-site visit to develop a data customization plan. To show results in the timeframe desired by the institution, the plan required complete setup of the Marketing Customer Information File (MCIF), a Baseline Review, and first direct mailing within 120 days. The MARQUIS strategist worked with the client to develop an ambitious but achievable written plan. Major milestones were agreed upon, and responsible staff assigned to each. The plan included progress updates between MARQUIS and senior client management at the 30-, 60-, 90-, and 120-day points. To keep the project on track between updates, the strategist conducted weekly status meetings, ensuring that tasks were completed and focusing team effort where additional attention was needed. The plan included specific “checkpoints” at which the MARQUIS strategist e-mailed project participants to ensure no milestones were missed, and to keep them informed about those that were successfully fulfilled.

Results:

The institution’s new marketing program was successful, and implemented on time. The initial Baseline Review was presented several days ahead of schedule, and the first targeted direct mailing was sent a week earlier than originally projected. The key to success was a carefully developed written plan, broad stakeholder buy-in, and effective communication. The plan provided sufficient flexibility to adjust to challenges within a tight timeline, while still meeting deadlines. Effective and continuous communication from their MARQUIS strategist surpassed client expectations and ensured that the institution’s marketing program goals were achieved.  

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