Real Results with MAI Voice
About the Client
Accurate Reporting with Data Management Technology
Customer Profile
Cole Taylor Bank is a subsidiary of Taylor Capital Group, Inc. and the sixth largest bank in Chicago according to Crain’s Chicago Business. As of March 2014, Taylor Capital Group has $5.7 billion in assets, $4.0 billion in deposits, and more than 1000 employees.
Market
North America - Commercial financing and treasury management, personal banking and mortgages
Challenge
Business checking customer acquisition.
Expertise in Direct Mailing and Outbound Services follow up
Success with MAI Voice's Call Center Services
Challenge
Establish New Clients
In the face of increasing competition, Cole Taylor Bank requested MAI Voice assistance in testing direct mail as one vehicle it could employ in a new business checking customer acquisition initiative.
Approach
Direct Mailings and Follow Up
MAI Voice created an oversized mailing that reflected Cole Taylor Bank’s corporate image and invited prospective bank clients to meet with a Cole Taylor representative to establish a new business checking account. The piece included a four-page, slit-nested brochure focused on the benefits of Cole Taylor Bank’s business checking product, as well as an offer of a $25 Lettuce Entertain You gift certificate for opening a new business checking account.
The mailing dropped to a list of 2,000 business checking prospects which was provided by Cole Taylor Bank. Two weeks after the mailing drop date, an outbound follow-up campaign launched as a joint venture by MAI Voice’s Response Management Group and Cole Taylor’s own business centers with the goal of setting appointments.
Benefits Summary
New Clients and Exposure
A total of seven appointments were set, which is the equivalent of a 1% response rate, which is admirable considering the difficulty of convincing small business owners to consider switching banks. In addition, one sizable new account was signed as a direct result of the mailing. But the real benefit Cole Taylor Bank gained was exposure to a select group of prospects who may have a higher propensity to contact Cole Taylor Bank when they are ready to switch.