Improve your media buy efficiency with ClickDimensions and Dynamics 365
By partnering with CRM Dynamics, the credit union DUCA was able to increase its media buy efficiency by 20% in just three months. This is their story.
In the final quarter of 2017, the credit union DUCA found itself in a bit of a dilemma – they were becoming too successful. Effective management of its mortgage broker and branch channels, as well as aggressive rate promotions had driven mortgage lending at an unprecedented pace.
Obviously, this was a good problem to have, but it still presented DUCA with a critical challenge. The credit union needed to grow its deposits in is Earn More Savings Account quickly to support the growth in lending.
To accomplish this, DUCA determined that it needed to dramatically increase its reach to beyond its traditional market of the Greater Toronto Area. That required a significant media buy if they were to reach the new deposits goal in 60 to 90 days.
But, not just any type of advertising was needed – it had to be smart. After all, the credit union had run campaigns before and had not reached the level of success that they needed here. This is where CRM Dynamics and the power of ClickDimensions and Dynamics 365 came into play.
One of the biggest factors in DUCA’s success came from the portal CRMD built for them. It was found that many perspective customers would start to fill out an application for the Earn More Savings Account, but for whatever reason they weren’t able to complete the application. With the portal, DUCA contact centre agents were able to follow up with applicants that had partially filled out the forms. That, in turn, led to an increase in new customers.
Additionally, Dynamics 360° view of the media buy effectiveness allowed account managers to view daily data at both an individual branch level as well as at the channel level. This allowed DUCA to make weekly adjustments to the media buy strategy.
Quickly, it was discovered that there was interest in the Earn More Savings Account from prospective customers from outside DUCA’s traditional catchment area of the Greater Toronto Area. That led to the decision to increase the geographical scope of the campaign to expose the media buy to more people.
In just 90 days, DUCA was able to generate significantly more leads than in the past to easily hit their revenue targets. That was in large part to the increase in media buy effectiveness. An independent analysis revealed that increased efficiency of the media buy, integration of lead management with Dynamics 365 and the utilization of the CRMD created portal, resulted in a 20% improvement in the cost of dollar deposit acquisition when compared to the EMSA promotion carried out in June 2017.
A 20% improvement in media buy effectiveness is something any business in any industry should appreciate. If you would like to learn how CRM Dynamics can unleash the full power of Dynamics 365 for you, give our experts a shout!