Marketing Goal
Retaining fee income by educating customers on the importance of overdraft protection and convincing them to opt-in for coverage.
Target Market
Any customer with a checking account and debit/ATM card could be a candidate for overdraft protection. But, the ideal audience (and most likely adopters) would be those customers who have had at least one NSF transaction.
Program
There are some critical communication steps that are recommended to maximize the number of customers that will opt-in. These communication steps should both educate targeted customers and help to preserve as much fee income as possible. Our comprehensive, turn-key solution for this program includes:
- Defining and selecting the targeted customers
- Developing a mail and email strategy with opt-in/opt-out messaging
- Capturing response data
- Sending confirmation messages to all opt-ins
- Selecting and sending secondary messages to customers with NSF history
- Scheduling the program to complete all touch points prior to the August 15th deadline
Results
While no one is exactly sure what the response rate will be for this program, the goal is to maximize responses in an effort to maintain as much fee revenue as possible while complying with the new regulations.
Click here to contact us for a detailed description of our recommended program.