Zions Bancorp developed a multichannel marketing program called "Onboarding" to increase customer engagement and sales. They piloted the program with 50,000 households, testing various direct mail, email, and personalized web page designs. Based on results, they refined the creative content and product offers. The full rollout achieved a 5% response rate, opening mostly deposit accounts. Ongoing emails saw open rates around 18% initially and 1% click-through rates. The program reduced attrition by 5% and increased other marketing efficiencies. It proved successful in driving new sales and improving customer retention through repetitive personalized outreach.

1. PURL’s for Profit Harnessing Personalized URL’s for Onboarding 1 Matthew Wilcox, Zions Bancorp August 23, 2011

2. Why Multichannel Marketing? People search before they buy People want buying options Your best prospects have been exposed to multiple messages Multichannel marketing delivers better results: Improved retention Increase revenue per purchase Increase in products sold per customer Acquire Retain Engage Grow 2

3. New AIDA Continuum Old Media New Media Acquire Retain 40% 10% 1% Engage Grow Social Media 3

4. 4 What was your last great multichannel marketing experience?

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6. What’s Consistent With The Best Multichannel Experiences? It’s About YOU! 6

7. 7 What channels should you use to reach your customers?

8. While FI Interactive Spend is Growing Rapidly . . . Spend represents one of the largest spends of any industry evaluated by Forrester Research 18% CAGR For Interactive Media 8

9. Consumers Still Like Traditional Media 9

10. Why Direct Mail? FI Channel Use Mirrors HealthCare 10

11. Channel Choice is Driven by Buying Stage and Trust Trustworthiness of Channels When shopping for a service, consumers are more likely to use interactive channels When ready to make a purchase, consumers rely on more traditional sources including friends and family Women prefer more traditional sources more than men 18-34 year olds prefer mail and newspapers vs. social media Traditional Channels are Trusted More 11

12. Channel Choice Changes During Buying Process Awareness Mass Media Social Media Company Websites POS Direct Mail Email Direct Mail Email Phone Direct Mail Email Phone Email Company Websites Direct Marketing Search Engine ATM Direct Sales Company Website Applications Jump Pages ATM Phone Direct Sales Direct Mail Interest Acquire Engage Cross-Sell Need to Match Channels With Purpose Retain 12

13. 13 So, how do you avoid being road kill with your multichannel marketing efforts?

14. Steps to Success for Zions Bank Started with a clearly defined business model Developed a very attainable business plan Defined business rules and processes Focused on substance as opposed to style Tested and measured 14

15. Multi-Touch Program Overview Integrate both e-mail and offline direct messaging to our clients Goal: Increase share of wallet by focusing on the client’s next most likely product Once successful (acquisition of a new product), the program will repeat itself with a systematic up-sell/cross-sell strategy 15

16. How We Got Started Run a Pilot of 50,000 households in Q4/09 to test the program and process Refine processes for bank-wide implementation Q1/10 Expand to include small business clients Establish Key Performance Indicators (KPI) for revenue and account growth 16

17. Original Flowchart 17

18. Original Branch Letter (sample) 18

19. Original E-mail (sample) 19

20. Original Personalized Landing Page (sample) 20

21. Pilot Key Learnings Business logic and program rules were validated for bank-wide rollout Our product benefits weren’t coming across clearly — too “me too” Incorporate metrics from the following areas Web site analytics (what pages and information are our clients looking for?) Personalized Landing Pages E-mail Direct Mail Branch Traffic Paid Search 21

23. How Has the Creative Evolved New, more colorful design consistent with our new online brand Now incorporate specific offers or use incentives being offered in other areas Credit Card promotion Rate offers Landing pages with product related content from third party sources Byproduct of Website usability study 23

24. Revised Direct Mail 24

25. Revised Email 25

26. Revised Landing Pages 26

27. Onboarding Flowchart 27

28. Onboarding Creative 28

30. ‘11 Credit Emails 30

31. ‘11 Credit Emails 31

32. Key Program Results The Multi-Touch campaign drove impressive lifts over the non-mailed control group in terms of both account response rate (130%) and average balance (241%). About 84% of new accounts and 95% of balance dollars were in deposit-related product lines. Onboarding program has reduced attrition by approximately 5%. Increase in traffic to PURLs. 32

33. Key Program Results Overall, the campaign achieved an account response rate of 5%, with about 75% of additional accounts encompassing deposit products. Initial emails had an average open rate of almost 18% with slight dip in follow-up emails (down to 14%). Click-through rates for the first email averaged around 1.8%, dropping to 1% for the second emailing. 33

34. What Has Been the Impact on Other Marketing Efforts Reduced the number of “one off” messages via direct and email Cost savings Less list fatigue for emails Incorporation of Retail offerings within program Most communications are sent through multi-touch Each new product conversion gets funneled into Onboarding program 34

35. 35 Matthew.Wilcox@zionsbancorp.com 801-316-1664 Mattwilcoxpro.com @mattwilcoxpro