If you want a local marketing challenge, just try being a locally owned bank.The fight for your audience’s trust is probably highest in the banking industry, where you need a bank with experience, technology, and easy access.
When a DFW-area bank came to Rogue, the leadership wanted to grow their title services with local homeowners. Keep reading to see what campaign hurdles Rogue had to overcome; how we decided to target audiences; where we recommended they spend money; and how the client chose to act.
Homeowners have a very narrow window during which they need title services:
- Within 60 days, on average, of putting their home on the market
But when it comes to selling their home, homeowners are concerned about how well their house shows. they’re not digging into the technicalities, including their title services. For example:
- Homeowners generally use the title company preferred by their lender
- They do not understand that they have the choice of their own title service
- They aren’t aware of what services they should expect from a title company
- They don’t know why they’d prefer to use one title company over another
So how does a local bank grow its service when it’s up against Fidelity, Wells Fargo and other household names?
The bank…goes Rogue.
The Rogue Local Bank Marketing Campaign
Most marketing agencies would jump to running social media ads and search ads for specific keywords. But targeting the right audience here can’t be done effectively by the same ol’ marketing tactics that the last decade has given us. The bank needed a more cost-effective method to reach the right audience on the lowest budget.
Rogue put together a blended print and digital campaign, always with a twist.
Local Bank Title Services Digital Campaign
The digital campaign is based primarily on IP targeting. Rogue developed a list of homes in a specific geographic area that had been listed in the previous 30 days. Then we assembled display advertising that would drip only to those specific addresses.
Following on those IP targeting ads is a budget for retargeting via PPC and paid social media. “But wait, didn’t you just say that social media wasn’t enough?” Yes. But social retargeting is getting to the right people, in the right places, at the right time.
Here are the digital campaign details:
- Display ads
- IP target the direct mail list
- $12-16 CPM depending on volume
- Each household to be show ad 2-3x/day for 45 days
PPC Search & Retargeting
- Create a baseline test with a minimum spend of $1,500 a month on PPC, split between retargeting and prospecting
- The estimated cost per click (CPC) for this campaign would be anywhere between $3.94-$9.00 as a max bid
- Goal for 5% based on the industry we could see an average of 7 conversions a month off of PPC
- Approximate lead cost is ~$150
- Start off with $500 in the first month to use for retargeting purposes since we’ll have to build up that audience from other sources, IP Targeting & PPC, Mailers.
- Unless we get into prospecting on Facebook, we won’t need a large budget there. We’re unable to say what we’ll pay there with the audience size being a complete unknown.
Local Bank Print Marketing Campaign
Canvassing neighborhoods could never deliver the ROI that a local bank needs. The same list guiding geo-targeting ads for digital also informs the print campaign, so that homeowners with a listed home can learn about their title services. When these homeowners visit a page online from the mail campaign, they then enter the retargeting campaign in the digital marketing campaign.
Here are the print campaign details:
Direct Mail List Details
- ~6,203 contacts in the DFW metroplex (homes listed for sale in the last 30 days, $200k+) – as of May 20
- City-by-city address breakdown can be found here (Direct Mail Counts tab): [Provided to the client]
- QTY: 6,500
- Finished size of 6.0 x 4.5″
- Color print // Two-sided
- 100# gloss cardstock
- Scored and folded (booklet style)
- Tax included
- $0.25-$0.35 each depending on list (not taxable)
Local Bank Title Campaign Budget Breakdown
So how much does something like this cost? You may have already started doing some of the numbers above in your head, but don’t worry: We’ll tell you everything.
Here are the campaign costs and timeline:
Clarity Is at the Core of Who Rogue Is
Rogue works with you to identify where your business is headed, and the resources at your disposal to get there. Everything Rogue plans for your campaigns and initiatives is tailored to your specific set of capabilities. We don’t stick to the same old methods; even when we use the same tools, we use them in a different way.
We’d love to talk to you about what your company needs in order to grow. If you’re tired of following in your competitors’ footsteps, give us a call.