Our client needed to evaluate and optimise the impact of their marketing activity and media spends in driving new Checking Accounts.
Our Total MROI approach was used to measure both the direct impact of marketing activities on new Checking Accounts, as well as the indirect brand building effects of marketing that drive long-term loyalty and New Checking Accounts.
We integrated the two components to provide a holistic perspective of the marketing mix and provide strategic recommendations to grow the business and maximise ROI.
We found that traditional Paid Media was a key driver in people opening new checking accounts.
Key brand equity drivers were consideration/ awareness.
Spot TV & Newspaper, Radio & OLV had long term brand building ability for the client in question.
The study helped identify opportunities to get an additional 400+ new checking accounts opened, and save $3m.