SAYLENT REWARD
Reducing costs while maintaining high customer satisfaction.

SAYLENT REWARD
Reducing costs while maintaining high satisfaction.

Established in

1962

Total Assets

$500 Million

Headquartered in

Springfield, Illinois

Financial Institution

Established in 1988

Assets Totalling

$1 Billion

Based In

Columbus, MS

CHALLENGE

Reduce customer service costs while continuing to maintain a high level of customer satisfaction and retention.

Town and Country Bank was seeking a way to further reduce customer service costs while continuing to maintain a high level of customer satisfaction and retention. It knew that electronic services were key to achieving this and specifically wanted to encourage adoption of electronic deposits.

The bank needed a solution that would allow it to easily identify the appropriate customers who were not conducting deposit transactions electronically and determine the right offer to drive adoption.

Solution

Identify and communicate to targeted customer groups to encourage electronic deposits.

Saylent partnered with the Bank to segment and analyze its customer base, identifying appropriate customers while integrating with the bank’s core system. Through Relationship 360, the Bank could seamlessly and electronically manage its cross-channel marketing campaign and gather real-time results.

Using Relationship 360, Saylent identified checking account holders that made in-branch check deposit transactions and no ATM or mobile deposits. Saylent worked closely with the bank to develop a tiered cash back incentive offer to drive that target group to adopt electronic deposits.

The offer was easy and appealing. Customers who made one mobile or ATM deposit of $50 or more over the campaign period would receive a $5 reward. If customers made two such deposits, they would receive $15 cash back. Finally, customers who made three deposits would receive $30. The deployment schedule included combined direct mail and staggered email outreach.

Results

The Bank’s in-branch check deposits decreased by 9.47% within 30 days, reducing its monthly expense by $493.95.

Monthly Expense Reduction

$0
In-branch deposits decreased by 9.47%, reducing monthly expense

Mobile App Downloads

0%
The highest number of downloads per month in 17 months

In 18 months, the bank should achieve an $8,891.10 expense reduction, equating to an 89% return on the bank’s campaign investment.

“The campaign period was the highest number of mobile app downloads we’ve had in over a year. My operations department actually thought something was wrong because we experienced such a jump in downloads. I let them know it was our highly successful marketing campaign driving these great results!”

JULIA C. FREVERT, AVP, MARKETING DIRECTOR, TOWN AND COUNTRY BANK

Download the full story.

Get more details on Town and Country Bank’s success by downloading the full Success Story.

Download the full story.

Learn more about Town and Country’s success by downloading the full Success Story.

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