A financial services institution faced a series of challenges such as the expansion of their geographic footprint and an existing customer segmentation was losing efficacy.

The institution's goal was to gain a complete view of their customers; which customers were profitable, what were their profitable acquisition initiatives, how should they allocate marketing funds for retention and cross-selling additional products, and how they could profitably maintain their strategic position as the dominant bank in their region.

Benchmarketing Analytics began a data assessment and data audit followed by a customer base analysis and segmentation to gain a complete view of current and attrited customers. This changed their view of segmentation that led to a more detailed, actionable, and highly targeted set of strategies.

In addition, an attitudinal segmentation was appended to their customer base along with the demographics and lifestyles so that marketing programs could be targeted to customers and prospects that had a propensity to utilize additional services coupled with the RIGHT motivational creative and messaging content.

Benchmarketing Analytics developed both a tactical and strategic marketing plan for future growth and offered guidance to reorganize the company around customer needs in addition to product management.

The financial services institution has established broad-based and direct marketing programs that allowed them to:

1. Efficiently acquire valuable customers
2. Understand which products acquire the most profitable, loyal customers
3. Retain customers that generate the most profits
4. Improve the profitability and durability of new customers