Retail Account Acquisition

Deposit Direct is more than a marketing campaign. It’s an effective long term retail strategy focused on new deposits including checking, savings and money market accounts. This strategy includes signage, training, a referral program and direct mail. New retail account openings typically increase 50% to 150% or more. We target banking consumers in transition with a Free Checking/Free Gift direct mail offer.

Target the Sizeable Transition Market
Approximately 16% to 26% of banking consumers are in transition annually. Deposit Direct targets these consumers seven times per year utilizing an effective, consistent marketing approach. We help your institution capture as many new accounts as possible.

Capture the Relationship
A checking account is a great way to establish the primary relationship with new households. It forms a strong foundation to build other profitable relationships through cross-selling. Historically the Deposit Direct program opens a significant amount of non-free accounts, in addition to free checking accounts. Plus, up to 70% of these new account holders will open savings accounts, and other services, at your institution.

Targeted Analysis
The Stellar Strategic Group advantage is effective audience selection and back-end analysis. On a regular basis, our account development team will analyze trends in response down to the postal carrier route level around each branch. This process allows us to refine the prospect list in order to maintain efficiency for our clients. Stellar Strategic Group has developed an exclusive method of tracking which accurately measures lift from new accounts produced in mailed carrier routes versus non-mailed carrier routes.

Effective Sales Training
Our trainers establish expectations with front-line staff and/or training personnel. We train on all aspects of Deposit Direct including free gift referral coupons, direct mail components, handling objections and in-branch preparation, just to name a few. Cross-sell training is also included.

Mystery Shopping
To ensure training concepts are implemented successfully at each branch location, our Deposit Direct consultants will shop each branch, giving you vital insight into the performance of your employees. Retraining sessions are customized based on shopping results.

Systematic Targeting
Direct mail is the best media for attracting new prospects because of the ability to target geographically around branches. It will also allow you to track your marketing dollars much more effectively than with other types of media. Stellar Strategic Group's effective reporting process will show you actual response rates for mailed carrier routes and lift generated over non-mailed routes.