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Increasing line of credit offer performance by 42x
A U.S. credit union noticed an uptick in email engagement at the start of the pandemic. It was clear to them that members were hungry for information.
Content Creation
The problem
An enterprise bank’s retail lending group wanted to grow their line of credit business while continuing to improve their market-leading customer experience. They were relying on traditional marketing channels, like direct mail and email to connect with customers. Unfortunately, they weren’t getting the results they wanted, with average engagement rates of 0.6% and 0.8% respectively.
Triggers and Segmentation
The solution
Flybits helped them target customers who had demonstrated a high propensity for a line of credit while they were logged into their banking app. That way, they’d be able to market these products to people who actually needed them, improving the overall customer experience.
The results
42x
higher performance
The enterprise bank was able to deliver a line of credit offer to consumers who were likeliest to respond, instead of broadcasting it through oversaturated legacy channels.The campaign received a 26% click-through rate, increasing performance by 42 times over traditional channels.