LITTLE ROCK, Ark.--(BUSINESS WIRE)--Infusion, a provider of data-driven direct marketing campaigns that generate strategic growth for community banks and credit unions, announces an average first year return on investment of 503 percent for financial institutions participating in Infusion’s Onboarding program.
Infusion’s Onboarding program is an omni-channel program designed to increase the number of relevant products and services used by new households, aimed to increase customer engagement and retention rates. Infusion utilizes a combination of continuously updated external and internal data, along with data analytics to accurately identify the financial needs of new households and their corresponding profit potential. Through Infusion’s proprietary ProfitGenerator® process, financial institutions receive detailed tracking reports measuring relationship expansion and retention.
Infusion created its Onboarding program to enable financial institutions to establish strong, growing relationships with new households beginning with the opening of their first account. The program includes a series of targeted, digital and direct mail cross-sell messages designed to optimize retention and accelerate the profit impact of new households.
Two key drivers of ROI are deposit fund-up and retention. Customers included in the program, on average, added $1,285 more to their checking account balance than a random hold-out did during the 90 day onboarding period. Additionally, Infusion’s clients typically experience a two to four percent lift in retention of customers included in the program compared to a randomly selected hold-out.
“Infusion provides small and regional financial institutions with a way to engage households through relationship-driven communications,” said Tom Cloninger, president and CEO at Infusion. “Our Onboarding program enables these organizations to establish a stronger relationship with customers through relevant dialog, commencing with their first account opening. The benefits to the customer are greater convenience and financial value while the financial institution sees a corresponding increase in long-term customer profitability.”
Headquartered in Little Rock, Arkansas, Infusion uses data analysis and proprietary industry normative data to create and execute omni-channel marketing campaigns that generate strategic growth for financial institutions. The Infusion ProfitGenerator® process and corresponding campaigns are used to grow deposits, loans and transactional fee income at small and regional banks and credit unions. For more information, visit http://www.profitgenerator.com/.