Prospecting for Growth & Retention
Use Case
Anne, Director CD Deposits Marketing
Anne’s deposit marketing campaigns have tried to identify the “next best product” for Members according to models that analyze account opening activity and demographics to select campaign prospects. She knows that depositor behavior is cyclical and repetitive – it’s the same people in the same month of the year that really drive results. Anne believes her deposit campaigns could be as much as 30% more productive she could identify and target money flows instead of account opening / closing behaviors.
Anne needs to know who is moving money into and out of the Credit Union to focus resources on money flows.
Targets and results metrics based on counts of accounts and products fail to remove the material effects of money moving between products and accounts (aka substitution), mistargeting Anne’s resources.
FlowTracker’s Growth Management analyses select Members who moved money into or out of the Credit Union by month and branch, then matches their demographic profiles to “look alike” Members as campaign targets.
Sarah loads these lists into her Campaign Management tool to reach her best prospects.
Total benefit potential per billion in liabilities: 250 k / yr. Model your own Credit Union’s benefit realization opportunity using the FlowTracker Credit Union Benefits Calculator.
Grow & Retain Prospecting List Generator
