Company President Uses Direct Mail to Support Aggressive Growth Plan

Case Study

Challenge

The president of a credit union developed an aggressive multiyear growth plan that included acquiring smaller credit unions to grow his share of the market. He wanted to go head-to-head with larger banks but felt he did not have the marketing budget to do so. Since his plan included the addition of more locations, he wanted a marketing programthat the re-branded branches could easily and quickly implement.

Solution

To maximise the effectiveness of the client’s budget, PIP created a multi-step targeted direct mail campaign for the main location and all newly acquired locations. The plan was multiyear and consisted of a grand opening mail campaign for 6-12 months and then a full year of direct mail following that to effectively support the new locations. We worked with the president to determine a geographic and demographic profile of ideal customers. This information became the data file that was key to the campaign and allowed for much flexibility in future mailings due to the varied amount of information the database contained. After many successful mailings for the main location, PIP purchased similar multipurpose lists for each of the newly acquired locations.

Results

Early into this campaign, our customer experienced double-digit growth due to this direct mail program. After each mailing, they are able to track traffic in their branches as well as their new customer close rate. Because of the comprehensive data selected and added to the database, our client can react to changing marketplace conditions, such as rate changes, by having us print and mail variable postcard notices within just two days.


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