Financial Institution Marketing Campaigns That Make the CFO Smile

Now that you have a target, it’s time to gather the data that can help you hit it. Look no further than your core, where a wealth of information exists.

Your goal now is to identify the information that matters for the outcome you’re pursuing and use it to build the right audience. Depending on your campaign objective, that might mean:

The result is a more relevant campaign with a clearer connection between the audience and the institutional goal.

Once your campaign is underway, the usual engagement metrics can tell you whether your message resonates with your audience. But measuring marketing ROI means following those results a step further to determine what that engagement actually produced.

The key is to connect your marketing activity to the business outcome. Instead of stopping at how many people opened an email or clicked a link, follow the trail from engagement to conversion and, ultimately, to the measurable value generated for your institution.

To demonstrate business impact, consider the same questions your CFO is likely to ask:

Did the campaign generate measurable growth? Depending on your original goal, look beyond conversions to outcomes such as new accounts, deposit growth, product adoption, or revenue generated.

Did the return justify the resources required to produce it? Measures such as acquisition cost and payback period can help put campaign performance in financial context.

Can you identify what worked and use those results to inform future campaigns? Predictable, repeatable results make performance easier to defend and give leadership greater confidence in future marketing investments.

With the right goals, data, and measurements in place, you can apply this framework to campaigns across the account holder lifecycle. The details will change depending on what you want to accomplish, but the basic approach remains the same: identify the opportunity, reach the right audience, and measure success against the business outcome.

Here are three examples of what that can look like in practice.

High-yield savings products can help attract rate-conscious prospects looking for yield and liquidity. The larger opportunity is to turn those initial deposits into broader relationships that can support stronger deposit retention and more stable, long-term funding.

Consider a high-yield savings acquisition campaign targeting prospects with strong deposit potential. Third-party income and asset data, along with geographic and demographic data, can identify high-potential households in your market.

From there, promote a relevant savings offer and follow up with targeted outreach designed to encourage a broader relationship.

Look beyond the number of accounts opened. To understand the campaign’s contribution to your deposit goals, measure:

The first 30 to 60 days provide a golden chance to establish important account behaviors. For new checking account holders, that could include setting up direct deposit, activating and using a debit card, or enrolling in online or mobile banking.

Consider a timed onboarding campaign for recently opened checking accounts. Use account-open dates and early activity data to identify account holders who haven’t yet established direct deposit, used their debit card, or enrolled in digital banking.

Then, send a series of timely messages encouraging those actions throughout the first 30 to 60 days.

Instead of measuring the campaign solely by engagement with your communications, look for changes in the account behaviors you set out to encourage:

Consider checking account holders who don’t have a credit card with your institution. Consistent deposits and regular transaction activity can help identify engaged account holders who may be candidates for a deeper product relationship.

Use product and account activity data to identify checking account holders without a credit card relationship. Then, promote a relevant credit card offer based on their account behavior, such as a cashback or rewards card with an introductory incentive.

A successful cross-sell campaign should demonstrate more than product adoption alone. Follow product adoption through to the activity and revenue it generates by measuring:

Great marketing can still earn attention, inspire interest, and compel action. But when those efforts begin with an institutional goal and end with a measurable business outcome, you can demonstrate the value behind that engagement.

Over time, consistent and repeatable results can build greater confidence with leadership and make future marketing investments easier to justify. That’s something marketers and CFOs alike can smile about.

Connect by Main Street™ brings core data, email, print, and reporting together in one easy-to-use platform. Build targeted audiences using account holder and product data, launch relevant communications across email and direct mail, and measure campaign performance – all in one place.