Kasasa CMO, Keith Brannan discusses ways community banks and credit unions can rethink their direct mail strategy to compete in a digital landscape.

1. Rethink direct mail to reach
your target market
Kasasa CMO, Keith
Brannan

2. The marketing landscape
has changed

3. Let’s back up
In our last webinar we discussed:
The importance of cross-channel marketing
The effectiveness of a hyper-personalized email strategy
The need for personalized conversations across all channels

4. market more efficiently
and consistently
Community financial institutions have to
to remain relevant.

5. Direct mail is
not dead.
“The reports of my
death have been
greatly exaggerated.”

6. 98%of people check their mail daily.
(USPS)

8. 57%of Millennials have made purchases
based on direct mail offers.
(Felicia Savage, “Don’t Hide In The Bushes: How To Use Direct Mail To Target Millennials,”
PERQ, October 28, 2013)

9. What you can do
with direct mail

10. Build relationships
Direct mail can be extremely targeted. You can define the
market you’re trying to reach and send just to those targets.
But how can you get the right consumer data so you can know
who to mail to?
Collect it
yourself
Purchase
access
Work with a partner
that has access.1 2 3

11. Cross sell, upsell, and retain
Direct mail campaigns for cross-selling can make account holders
more profitable, bring in more deposits at a very low cost, and be the
start of a long and engaged relationship.
Cross sell:
Loans
Saving accounts
ID fraud protection
Upsell:
Product utilization
More utilization
from account
holders
Retain:
Welcome
Birthdays
Anniversaries of
service

12. 70-80%of consumers say they open almost all
of their mail –– including “junk mail.”
(DMA, 2014)

13. Once you get into the right consumer’s hands,
you have to connect with them.
But it’s not HOW you
connect with them, it’s about
WHO you connect with.

14. The only marketing tactic that puts you
right in a consumer’s home
Direct mail = An opportunity to create a connection
that enhances digital and email channels.
vs

15. Make it compelling.
The more it feels like you’re talking directly to the
consumer, the more effective your campaign will be.
One way is to personalize:
Name
Location
Account history
Reminders
Personalized URLs
The other way is to make a compelling offer.

16. Direct mail is a complement
to your digital strategy
Consumers spend 25% more when a business uses a mix
of direct mail and email marketing.

17. Pitfalls to avoid
Mailing just to mail
Sending the same
message to all
demographics
Creative that doesn’t
capture attention
An offer that doesn’t
entice the consumer
Not knowing the
preferences of the
consumer

18. Steps to a direct mail campaign
Determine objective
Use data to figure out target audience
Create a segmented mailing list
Develop messaging and design
Create call to action and offer
Make a landing page for recipients
Choose a print and distribution
vendor
Mail the campaign
Track results

19. For any marketing organization,
integrated direct mail can be:
Difficult Costly Time Consuming
But technology to make it easy is now within reach.

20. Direct mail case study
Midsize credit union

21. Case study: Midsize credit union
Entice members to open
relationship-building, NII-earning
transactional accounts.
OBJECTIVE PLAN
Deploy a 60-day upsell campaign
into Kasasa Checking, cross-sell
campaign into Kasasa Checking,
and a prospecting campaign

22. Case study: Midsize credit union
$3.2 million in new, non-Kasasa deposit balances
$107,364 net increase in checking balances
296
non-Kasasa deposit accounts opened
44
new Kasasa
accounts

23. Case study: Midsize credit union
$3.1 million increase
in loan balances
across 164 new loans.

24. Case study: Midsize credit union
Industry
Average
2.28%
Kasasa
Checking
2.59%
Upsell Response Rate
Industry
Average
$250.00
Kasasa
Checking
$151.50
Campaign Cost-Per-Account

25. Let’s get even better

26. What if …
Target consumers 1.5x – 3x as likely to open an account
1
3 Utilize technology to automate the marketing with no new
staffing
Leverage network data insights and reduced pricing4
2 Multi-Channel Marketing to increase program performance 3x

27. Multi-Channel consumer engagement
1
15 4530 601
60
Cross – Channel Details
One list to drive all engagement
Personalized creative
Cross channel alternating cadence supported by
consistency in social channel
Direct Mail, Social, Email utilizing new platform

28. Let’s recap

29. This is all it takes to create a cross-channel
strategy that includes direct mail:
Creative
Knowledge of the consumer
Segmentation
Access to the channels where they are
consuming media
Compliance
Measurability testing
Data management
Resources to provide process improvements
Predictive models
Workflow improvements
Pricing improvements

30. ...Now do that every day
Kasasa has the resources:
Data on consumers who are 1.5-3X as likely to buy
Robust targeting
High-quality prospect lists
Creative assets
Campaigns that run continuously
Compliance language

31. Cross-channel marketing and
integration at Kasasa
Kasasa has access to material and programs to
run across many channels:
Direct mail
Digital
Social
Email
Television
Pandora
In-branch
Events

32. Our goals
Reduce the time and energy required to engage
consumers.
Create a shared pool of knowledge that helps improve
our clients' marketing strategies.
Develop more profitable marketing opportunities for
every financial institution in the Kasasa network.

33. 153%
Kasasa direct mail sees an
average marketing ROI of
(Kasasa analytics)
27%the average ROI for direct
mail in general.
(2016 DMA Response Rate Report)

34. The Marketing Landscape — 2017 — 5000 companies

35. Fast growing industries create risk
Too many options
Time it takes to decide on a path
Risk of meeting business requirements
Implementation risks
Resource and skill risks
Execution risks after implementation

36. When evaluating vendors, avoid:
Unnecessary features
No reporting capabilities
Systems requiring certain expertise
Lack of financial service knowledge
Systems that require daily attention from your team
No tested, proven campaign strategies

37. What’s your direct mail strategy?

38. Questions?