Appointment Setting Case Study

SITUATION

A major banking institution wanted to increase their market share in commercial banking. Being a regional bank, the client was looking to expand the borders of its region. Their product offerings were very competitive with those of larger banks, but they needed to develop a market identity that would portray their competitive advantages. To be successful in a cold, prospecting environment, we advised them to further define a unique product positioning and develop the best strategy to market in a cost-efficient manner.

CHALLENGE

The most difficult task was contacting and setting appointments with CFO’s at companies with a sales volume of $50M and up. A precise marketing strategy had to be developed in order to break through the many barriers around these executives. The initial approach had to be unique and appealing where the CFO and gatekeeper were equally impressed. The product had to bring significant value to their financial needs and at the same time allow the bank an opportunity to cross-sell additional services in the future.

SOLUTION

It was clear the best approach required a mail piece followed by a phone call. The mail piece had to appeal to the CFO, but more importantly it had to soften the gatekeeper. Several pieces were profiled for the mailer; after several tests, we were able to determine the most productive piece. The concept was designed to bring name recognition, as well as to initiate a working relationship, allowing the follow-up caller to bypass the gatekeeper and reach a receptive executive. This also portrayed the bank’s attention to detail and creative business approach.

RESULTS

In 1200 hours of calling, RDI was able to set 800 appointments, with a conversion rate just under 50%. Our callers captured an abbreviated needs analysis in setting the appointment, allowing the bank representatives to enter the appointments with confidence, knowing the target items for discussion. Immediate back-end results from the initial 800 appointments included $60M in loan applications, $45M in deposit opportunities, and 150 bid requests on 401(k) plans.

This business-to-business calling campaign proved to be successful. RDI created an opportunity to increase market penetration and build revenue streams for the future, the two-fold benefits of an outbound business-to-business campaign.

For more information please contact our sales department at 513.984.5927 or
sales@rdimarketing.com