acquisition: how to turn a prospect into a customergomarquis.com/wp-content/uploads/2019/10/...2019...
TRANSCRIPT
2019 User’s Conference
Acquisition: How To Turn A Prospect Into A CustomerJenna RowlandSVP, Marketing StrategySue SchabertVP, Marketing Strategy
2019 User’s Conference
Beacons
Search Engine Marketing vs.
Search Engine Optimization
2019 User’s Conference
Prospecting as a Strategy
2019 User’s Conference
AGENDA
• Strategy• Process• Tools• Experience• Measurement
Value vs. PriceVALUE VS. PRICE
2019 User’s Conference
POSITIONING/VALUETop Shelf vs. Mid/Lower Shelf• Convenience/proximity
– Lower importance vs. close at hand• Price
– Value vs. more for less• Quality
– High expectations vs. lower expectations• Service
– Relationship/prestige vs. efficiency and convenience
2019 User’s Conference
HOLISTIC PLAN
• Set specific acquisition goals• Define your market• Competition• Offer/Positioning• Timeframe• Communication channels, including social media• Measurement
2019 User’s Conference
GOALS
• Product(s) of focus– Checking– Mortgage
• Response rate• New balances• New accounts• Defining success
2019 User’s Conference
DEFINE YOUR MARKET
• Profile existing households– P$ycle, Psychographic, Demographic data– Determine characteristics of a good product user– Geographical area(s)– Predictive modeling
• Hyper-local to branch footprint(s)
2019 User’s Conference
PLACEHOLDER – COMPARISON OF CHECKING VS MORTGAGE MARKETS
MORTGAGE CHECKING
Geographic location/Proximity Geographic location/Proximity
Homeownership status(homeowner/renter)
Life eventNew move, marriage, divorce,
college, etc.
Current Mortgage Info Propensity for Checking
Propensity for Mortgage Lifestage
In the Market Score
Lifestage
Income
2019 User’s Conference
COMPETITION
• David vs. Goliath– $5/hour vs. $195,000/hour
• Competitive landscape at branch level • Understanding consumers in the footprint
2019 User’s Conference
OFFER/POSITIONING: CHECKING• Value vs. Price• Propensity indicators• A/B testing
– Rate– Offer– Channel– DM format
• Frequency
2019 User’s Conference
OFFER/POSITIONING: MORTGAGE
• Invitation to Apply vs. Pre-qualification• Timely/Relevant/Specific
– Retirement– New homebuyer– Second home– Life change
• Value vs. Price• Frequency
2019 User’s Conference
TYPES OF HOMEBUYERS
• First-Time/New Homeowner– Typically lower-cost home purchase– Starter home– Lower down payment
• Next Home– Potentially the final move– Typically have equity
• Retirement– Downsizing– Simplicity
2019 User’s Conference
TIMEFRAME
• Local state of affairs• Seasonality• Life changes
– Timely– Relevant– Specific
2019 User’s Conference
COMMUNICATION CHANNELS• Email• Print• Website/Microsites• Social media• Front Line
SOCIAL PLATFORMS
SOCIAL PLATFORMS
ELECTRONIC PROSPECTING
2019 User’s Conference
MEASUREMENT
• Definition of success: Keeping it in perspective• Growth metrics• Evaluation-Change-Reevaluate
– What worked– What didn’t– What changes– Try again
