Published on March 11, 2014
What is a Matrix Campaign? A highly targeted pre-determined series of direct mail pieces, e-mail messages and/or outbound phone calls designed to cross-sell products and services. Each offer is personalized; based on individual account holder relationships, demographics, and other criteria unique to each institution.
Why Matrix Marketing? Proven results in a wide variety of institutions. Campaigns are automated. They continue no matter what other priorities demand your time. Personalized communications with account holders is the most cost-effective method for improving services-per-households, increasing balances, and long-term retention of the relationship.
Matrix Campaign Components Direct Mail Postcards Personalized Letters Self-Mailers E-Mail Messages Outbound Phone Calls Statement Based Campaigns Statement Cover Letters Selective Inserts
Matrix Letter Samples
Matrix Ad Examples
30% of new account holders leave within the first year. During the first 90 180 days, new account holders are more likely to purchase additional products or services. One Solution: Educate new account holders about additional products and services that will appeal to their lifestyles and financial situations.
Indirect Lending Cross-Sell A J.D. Powers & Associates study found that 37% of consumers with luxury purchases and 33% of consumers with non-luxury purchases said they intend to work with the dealer to choose the financing options. The challenge is not only to bring in the loans the challenge is how to turn these people into more than just single account holders. One Solution: Inform these account holders about your institution they wanted the vehicle, not the relationship. Sell the relationship and your benefits and advantages over the competition. Identify and promote SPECIFIC products and services that will appeal to each individual.
Single-Service Account Holder How many account holders do you have that have only a single account as their rainy-day fund or so they can cash their paychecks? Or have a single loan or credit card? Are these the type of people you are trying to attract? One Solution: Identify these account holders and send specific cross-sell offers based on age range, income and the existing account relationship(s).
Mergers and Acquisitions The pace of mergers and acquisitions is likely to continue to increase. With each merger, your assets grow and you gain additional economies of scale. But, are you getting the most from your new account holders? One Solution: Extend cross-sell offers to newly acquired account holders based on their existing relationships and balances, focusing on products and services that are new Make this matrix part of your overall merger strategy.
Other Matrix Campaign Opportunities New Branch Openings Select Employer Groups (SEGs) Investment and/or Insurance Divisions Senior Club Accounts Other opportunities exist to send regular, highly personalized campaigns to key prospects. Commercial Accounts
A Matrix Designed Just For You Consider the following factors when designing your matrix: What are your advantages in the marketplace? What are your disadvantages? Which products & services will you promote to capitalize on these advantages? In what order? What offers will you extend?
A Matrix Designed Just For You (continued) Which account holders should you target for each of these products and services? What logic will be used to target and personalize each offer? How many different mail pieces and other contact points? What will the letters, e-mails or mailers say?
LKCS Takes It From There Initial programming to build the matrix Copy writing and graphic design Monthly import of account data Matrix processing Identifies which product and service offer to send to each recipient Ensures account holders will not receive offers for products they already own Letter printing and mailing; E-mail broadcasts Reporting and Tracking
Adjust and Refine Ability to refine matrix at any time: Change letter conditions / account relationships Add/remove letters Modify text or design
DataFlex Marketing Reporting and Tracking System DataFlex Matrix Campaigns are just one component of the DataFlex Marketing Reporting and Tracking System Easy to use, affordable MCIF alternative Not just your typical data tables and graphs Interactive reports and dashboards give you instant access to information Drill down as far as you need to go all the way to individual account holder level
Thank You! Tim Turczyn Sales Representative Direct: 815-220-3907 E-Mail: firstname.lastname@example.org Schedule a personal DataFlex demonstration today.
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