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AT A GLANCE
About the Partner: 700K+ digital banking users, $20B+ in assets
SavvyMoney Partnership: Launched February 2020
Impact: 44% above goal for new credit cards opened, 73% application completion rate, 4.6x take rate compared to industry average, 11% click thru rate, nearly double industry average
OPPORTUNITY
A large credit union aimed to grow its credit card portfolio using SavvyMoney’s Pre-Approval Marketing solution. Their goal was to open 4,000 new credit cards, a number that would mark a significant success. However, industry averages for similar campaigns typically show a take rate of just 0.5% and a low application completion rate of 35%. To achieve their goal, they needed to far surpass these benchmarks.
SOLUTION
By leveraging SavvyMoney’s credit data insights and multi-channel marketing tools, the credit union identified well-qualified members and delivered personalized offers at the right time. A seamless, low-friction application process further increased the likelihood of conversion.
IMPACT
The campaign surpassed its goal by a significant margin, delivering results well above expectations. By focusing on a seamless user experience and precise targeting, the credit union achieved exceptional results that significantly outperformed both its internal goals and industry averages.
This campaign is a powerful example of how the combination of SavvyMoney’s strategic targeting and an optimized user experience can lead to extraordinary growth. By partnering with us, this credit union was able to not only meet their ambitious goals but also set new performance benchmarks for their peers.