Amegy Bank of Texas
B2B Email Marketing Campaign
The Challenge
Amegy Bank of Texas is a leading Texas bank with more than $7 billion in assets and 250,000 customers. Like most banks, Amegy Bank is continually seeking to deeper customer relationships through effective communication and cross-selling efforts. To effectively compete against national banks with much larger budgets, Amegy Bank is constantly seeking new ways to leverage technology and the Internet to reach and serve its customers. When the bank’s Treasury Management group was preparing to launch its Web Lockbox product, it turned to Spur Digital for help.
The Solution
Spur Digital developed and implemented a targeted email marketing campaign to promote the Web Lockbox product to the bank’s corporate customer in an effective, cost-efficient and measurable way. The results were compelling not only from a customer communications and product awareness standpoint, but also from the leads that were generated by the campaign.
Email Advertisement
Campaign Overview
Spur developed and implemented an email marketing campaign to promote the Web Lockbox product to the bank’s corporate customers. Spur started by creating a message that announced the new product to the bank’s customers. The multi-part message was carefully crafted to maximize open rates and response rates, using effective copy in the subject line and in the body of the message. Spur also made sure the message complied with best practices and adhered to the requirements of the CAN SPAM Act.
Upon opening the message, recipients were given a brief overview of the product’s features and benefits. they were then invited to learn more by clicking-through to a dedicated landing page on the bank’s web site.
Spur designed the landing page to include an overview of the product and an invitation to learn more about the product by completing a brief submission form. Submissions were emailed to the bank for immediate follow-up and were recorded by Spur in a secure database.
Once all media was developed, Spur sent the message to the bank’s customers via white-listed mail servers. Spur then provided comprehensive tracking and reporting of campaign metrics including:
- Messages sent
- Bounced messages
- Opened messages
- Click-through responses
- Submissions (leads)
- Economic value created by the campaign
- Campaign ROI
“We’re very pleased with the results from the Web Lockbox campaign. Spur showed us a new way to reach our customers and increase share of wallet in a profitable and measurable way. Web Marketing is yet another way Southwest Bank is leveraging the Web throughout our business."
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The Results
Results of the campaign were very compelling in several areas, including:
- Reach: Bounce rate was less than 3%, message was read by 70% of recipients
- Responses: More than 12% of readers clicked through and of those, 35% requested more information
- Economics: Expected revenue was more than 10x the cost
- Net response rate equaled 2.4% (1)
- Expected ROI exceeded 700%
- 2.4% of the target audience submitted contact info and requested assistance
Campaign results greatly exceeded those of traditional print marketing (letters and post cards) which typically yield response rates ranging from 0.3% - 0.8%. This campaign not only showed a 3-5X improvement, but also saved money typically spent on printing and postage. Better results and lower costs – it’s not hard to see why Southwest Bank now views the Web as a key part of its marketing program.
Spur Digital’s Role
As a full-service solution provider, Spur Digital managed all aspects, including:
- Developing the campaign plan
- Identifying, engaging and structuring agreements with Partners
- Development of web media – email announcements and landing pages
- Comprehensive tracking and reporting of marketing metrics and business results
- Conducting a customer survey to measure the impact on brand loyalty
- Measuring financial impact and ROI