BankSwitcher Increases Marketing ROI |
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BankSwitcher is a program that includes a web-based tool and a dedicated service team to make it much easier for your new customers to switch. The average community bank and credit union spends $200 to acquire each new checking account customer, but only half end up using the account as their primary account because switching automated transactions is a hassle. This means institutions only realize an ROI on half of new customers they spent money to acquire. If more new customers switched, ROI would be significantly higher. |
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An Incremental Increase of New Customers Switching
Has A Big Impact On Marketing ROI
Ten Great Reasons To Try BankSwitcher (besides increasing ROI)
- 1. Fast and easy to use.
Users tell us what they need to switch and how the payments are processed (i.e., automatic payment, debit card, billpay). Within 24 hours we email them a PDF with everything they need.
- 2. All instructions are researched and validated
Switchkits include specific instructions for every item on a user's list. We validate that our instructions are up-to-date before we send out the completed switchkit.
- 3. No technology integration
BankSwitcher is a standalone application and does not require any type of connectivity with an institution's IT infrastructure.
- 4. No personal information required
All BankSwitcher requires is a name and email address. Users do not give us account numbers, passwords or other personal information.
- 5. Follow-up survey
We send users a link to an online survey one week after they receive their SwitchKit to get feedback about their experience. Clients are able to add questions to the survey.
- 6. Scheduled email reminders
If a customer hasn't created a SwitchKit, we'll email them friendly reminders up to four times over 90 days.
- 7. Weekly reporting
Each week, we'll provide a report on which customers have used BankSwitcher and who hasn't. These reports enable institutions to be proactive by reaching out to new customers that haven't switched yet.
- 8. Branded for the institution
Our email correspondence can use an address set-up by the institution (e.g., switchsupport@yourbankname.com). SwitchKits will be branded with your logo and include your forms where applicable (e.g., direct deposit form). We'll even pre-populate your routing number on all forms.
- 9. Pay-per-use pricing
You only pay for customers that generate a SwitchKit. There are no other fees.
- 10. Nobody uses your current SwitchKit
Let's face it... handing somebody a form with instructions to fill it out for each of their billers is barely more helpful than a pat on the back.