Mature Market Acquisition Program at $10 Billion Bank

Mid-Atlantic Financial Institution
Assets: $10 Billion
DDAs: 170,000

In 1992, institution management launched an Affinion Group value-added checking program for the mature market. The program offered a bundle of targeted benefits with a threshold of $100 to avoid fees. The objectives were to attract and retain high-balance customers without paying premium rates, increase cross-sales, and generate new fee income.

To promote the program, the institution undertook employee sales training, offered incentives, and kicked off a fully integrated 90-day promotional campaign which included direct mail, advertising, and lobby merchandising. At the end of the promotional period the institution had surpassed all its goals.

Later, the institution added a second tier of benefits to the program, which customers could select for a small monthly fee. Almost 30% of all new customers select this option.

Today, the program continues to grow and generate revenue.