Alerus Financial is a banking institution, with 13 locations across the upper Midwest of the US. The company serves more than 89,000 customers worldwide.
Objectives & Approach
Alerus was looking to encourage new loan applications and targeted 7,500 prospects.
Prospects were segmented via age demographics into three groups: 25–35, 36–45, and 46–55.
Alerus used a targeted campaign for half of their list, and used the other half as a control group.
The test group received:
A self-mailer with a pURL where personalised images and messages were used to appeal differently to each of the subsegments. Respondents could also use a toll-free number to respond.
An additional postcard with pURL was mailed to recipients that did not respond in the first round.
The pURL contained information on the credit card loan consolidation offer, a pre-populated contact form, and an interactive calculator to estimate the monthly loan payment.
The control group received a non-personalised self-mailer that employed the same creative that was used for the middle age group of the variable data segment, and the same offer, with a single toll-free number as the response device.
The campaign recorded a 3.67% response rate to the variable mailer (visited pURL or called toll free number), versus less than 1% for the traditional mailer.
The highest response rate was from the 25-36 age group.
A total 60% of new loans during the campaign came from the targeted mailer, 30% came from the traditional mailer, and 10% came from word of mouth advertising
60% of those who responded to the variable data mailer were new customers to Alerus.