With the database infrastructure and the analysis PNT provided, we calculated that a 50 percent increase in target industry penetration could potentially increase customer net revenue by almost $80MM per year. To target opportunities, PNT built a national SMB database, matching it to the bank’s existing SMB customers and combining data from industry sources, including D&B and InfoGroup.
With this insight, we created a far more accurate baseline, measuring penetration into key target industries at 16 percent, with wide variations by industry. We offered our client new, accurate target profiles for its ideal SMB customer mapped against its branch geography, including detailed maps placing customers and prospects within custom-configured trade areas. Further analytics allowed us to refine customer targets and delve deeper into branch profiles for a better segmentation using profitability and pricing. PNT and the bank collaborated to roll out targeted direct marketing programs targeting higher value clients and prospects:
-
Pre-qualified and pre-approved credit offers
-
Balance consolidation offers
-
Product cross-sell offers
-
New product bundles
-
Center-of-Influence (COI) events
PNT handled all operational details seamlessly – including targeted event lists, lead lists and competitive action lists as well as tracking and reporting – so the bank sales team could focus on strengthening existing customer relationships and acquiring the right new customers.