LITTLE ROCK, AR--(Marketwire - March 3, 2010) - New core deposit acquisition campaigns developed and implemented by Infusion Marketing Group through its ProfitGenerator® program produced 1,549 new accounts with $19.5 million in balances for clients in the 4th quarter of 2009. Responding households (who had no prior relationship with the client banks) showed distinct quality in a number of key categories:
- Average opening account balances were very strong at $12,563.
- Average household deposit balances were $16,595 at the end of 60-day campaign offer periods.
- Responders averaged 2.38 accounts per household at the end of 60-day tracking periods. This compares favorably with 2.15 accounts per household observed in the Infusion New Household Normative and predicts enhanced retention and future bank customer cross-sell potential.
- More than 42% of responders had already signed up for Online Banking by the end of the 60-day tracking period. This compares favorably with the New Household Normative at 38%.
According to Infusion Normative statistics, households with $10,000+ in deposits make up 25% of a bank's depositors, yet control 95% of total deposits. Attracting brand new high depositors in core deposit categories is an important strategic accomplishment.
Bank Customer Retention
Through its ProfitGenerator® program, Infusion helps banks attract new core deposit households that provide a disproportionate deposit impact per response. In contrast to mass market approaches, this strategy produces sustained revenue growth that is evidenced by high bank customer retention rates and ongoing expansion of newly acquired household relationships.
Infusion Marketing Group is a full service database marketing agency working with community, mid tier and regional banks. Infusion works strictly on a pay for performance basis to assist its clients in attracting and expanding high profit/high retention household relationships, charging a fixed, one-time fee for each new account generated. Infusion delivers campaigns through a state of the art web portal that provides convenience and efficiency far beyond the bounds of the traditional agency model. Its proprietary industry normative statistics provides unique, comprehensive insight as well as predictable campaign results to banks throughout the United States.
For more information on Infusion Marketing Group or the ProfitGenerator® program, contact Curt Louckes, Sales and Marketing Leader at curt@infusionmarketinggroup.com or 901-356-4140.
