DeepTarget Inc., a transformational financial services company that provides Growth-as-a-Service™ (GRaaS™) to community financial institutions, and Access Softek, an omnichannel digital banking provider, announced the five finalists and the grand prize winner in their Digital Impact 2023 Awards Program, honoring excellence in digital marketing.
The Digital Impact award recognizes progressive financial institutions that invest in and utilize technology to communicate, engage and impact account holders' financial journeys. The finalists were selected from a larger pool deploying DeepTarget's Digital Experience Platform (DXP) within Access Softek digital banking channels to create unique and successful marketing campaigns within the last year. Finalists were selected based on a winning combination of factors including campaign creativity, use of business intelligence, data insights, AI and impactful results.
The well-deserved 2023 Digital Impact finalists are:
• Seaboard Federal Credit Union; Asset size $198 million; Money Market (MM) Rate and CD Rate Campaign: These campaigns were deployed to members signed up to either online or mobile banking. Those interested in learning more about the CD or MM rates were directed to open the accounts online making the process seamless. With an amazing clickthrough rate (CTR) over 10%, Money Market accounts increased 35% in value as a result of the campaign. A sister campaign promoting CDs resulting in a great uptake as well. Both campaigns combined have originated over $7 million in new account deposits so far!
• TrueCore Federal Credit Union; Asset size over $230 Million; ReferLive Campaign: The ReferLive $50/$50 campaign deployed in online and mobile banking was to reach their annual new membership goal. It rewarded both current, referring member and the potential new member. It was a highly successful campaign with a CTR of over 11%, generating more than 1,200 leads in just 6 months. With its help, TrueCore is ahead of their annual target with 758 new members YTD.
• Michigan Schools and Government Credit Union; Asset size $3.3 billion; 3 Mortgage Campaigns from Feb to July 2023: These three online and mobile campaigns promoted a rate lock, low closing costs and zero down, all working in concert to raise awareness of the benefits of their mortgage offering. So far, they have resulted in a robust number of new mortgages – 277 and counting!
• Crane Credit Union; Asset size $1 billion; Auto Loan using Predictive Model Campaign: The campaign's main goal was to catch members' attention with an incredibly low auto loan rate of 4.74% APR and encourage them to open auto loans. DeepTarget's AI/ML based predictive model campaign identified those with the highest propensity for auto loans, resulting in a high CTR. By the end of this campaign in March 2023, Crane had closed more than 1,300 auto loans.
• Great Lakes Credit Union; Asset size $1.3 billion; Save to Win Campaign: The objective was to encourage members who are not experienced savers to save with a minimum opening deposit of just $25. Their incentive was to win up to $5,000 in cash by opening a "Save To Win" 12-month certificate. What a successful campaign it was in a short span of a mere four months! It had a CTR of over 8%, well over 2,200 leads and influenced the opening of 1,348 new share certificates!
These five winning campaigns were showcased in the Digital Impact Spotlight session during the Access Softek Client Conference held in Chicago, Illinois. As long-time users of DeepTarget, they demonstrated the highly effective use of digital touchpoints to engage their members and meet their individual needs at the right time.
Conference attendees voted in real-time to select the 2023 Digital Impact grand prize winner from the finalist presentations to be Great Lakes Credit Union.
"We are honored to be recognized by our peers, and excited to elevate our use of digital campaigns for positive results," said Allison Videtti, Vice President, Marketing, Great Lakes Credit Union. "Our investment in digital has helped to strengthen our member relationships - always a mission-critical priority for us. With DeepTarget, we have been able to very effectively use our digital real estate to communicate, engage and most importantly, impact our members' financial wellbeing."
