SAYLENT ENGAGE
Increased card utilization through automated customer targeting.

SAYLENT ENGAGE
Increased card utilization through automated customer targeting.

Financial Institution

Established in 1988

Assets Totalling

$1 Billion

Based In

Columbus, MS

Financial Institution

Established in 1988

Assets Totalling

$1 Billion

Based In

Columbus, MS

CHALLENGE

BankFirst Financial Services recognized that there was a segment of customers who were underutilizing their debit cards when compared to the bulk of their customer base.

BankFirst Financial Services, as their name expresses, is committed to personalized banking. While the Bank recognized that there was a segment of customers who were underutilizing their debit cards when compared to the bulk of their customer base, they were challenged with identifying which customers’ cards were underperforming and how to relevantly engage them to lift their habits.

Solution

After determining average customer debit card behavior and setting benchmarks for desired behaviors, Saylent Engage pinpointed the ideal customers to target and devised an automated, all-encompassing targeted marketing strategy, including branded materials, deployment and campaign fulfillment.

The insights gleaned from the data indicated that these customers would respond best to a gift card reward program, and the criteria for obtaining a gift card was segmented into two tiers for increasing spend and volume through two personalized campaigns. In just a few weeks, BankFirst launched the campaigns for customers across all 17 branch locations.

Results

The campaign exceeded expectations by surpassing the Bank’s breakeven threshold in just over two months post-launch. Over three months, BankFirst experienced a sustained 51% increase in transaction volume from the total target group. Likewise, there was a 82% sustained increase in spending amount.

Spend Campaign

0%
Campaign qualifiers increased their average monthly spending from $121 to $1,123

Volume Campaign

0%
Campaign qualifiers increased their average monthly transactions from 4 to 26

“We partnered with Saylent because their robust solution could get us through the noise of so much data; and give us clarity on where to focus to maximize our returns. We’re blown away by the success of the campaign as we hit our breakeven threshold in just two months. We’re excited to see what we can tackle next.”

LEON MANNING, FIRST VICE PRESIDENT, DIRECTOR OF MARKETING AND TRAINING, BANKFIRST

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