Equity Bank – Business Outreach Strategy
Equity Bank’s current business outreach strategy entailed sending a premium work glove to prospective clients. Staff would follow up and encourage the prospect to meet with an Equity Bank representative, where they would receive the glove’s mate. Although the company liked the campaign concept, results of the outreach were mixed. Equity Bank engaged Lundmark to refine the execution of the strategy with the goal of increasing the meeting conversion rate.
Lundmark studied the original mailer and recommended a two-step approach for improvement. First, the initial mailer was redesigned to incorporate Equity Bank brand attributes within the glove creative. Next, packaging was created for the mate provided to the prospect during the follow-up meeting.
In the first month of the new mailer, Equity Bank staff set twice the number of follow-up meetings than the previous monthly average. In addition to improving the aesthetics and impact of the piece, the new process also decreased postage cost and time spent on fulfillment.