3,298,394
Impressions
$2,407,799
Total Deposited
16.94%
CTR, exceeding 5.7% industry benchmark
596
Total Bank Account Opened
the problem to solve
- Increase new account holders & deposits by 20% in one year for their Kasasa Cash Back® checking account, aiming to open 193 new accounts.
- Boost brand awareness within their field of membership.
- Meet or exceed the industry benchmark of 5.7% for search click-through rates (CTR) in the Finance & Insurance sector.
the strategy
Phase 1
Phase 2
THE RESULTS
campaign overview
start date
JUNE 2023
end date
MAY 2024
digital performance metrics
total impressions
3,298,394
total clicks
14,793
account growth targets
projected lift
20%
actual lift
34%
deposit growth targets
projected lift
20%
actual lift
23.5%
channel-specific results:
google search
14,664
impressions
2,152
clicks (ctr: 14.68%)
facebook & instagram
2,399,494
impressions
11,066
clicks (ctr: 0.46%)
programmatic display
884,236
impressions
1,575
clicks (ctr: 0.18%)
account growth results:
Total Bank Accounts Opened
596 new accounts opened
from June 1, 2023 – May 31, 2024
Kasasa Cash Back® Checking Account:
272 accounts
achieving 140% of goal, exceeding the goal of 193 new accounts
Kasasa Cash® Checking Account:
118 accounts
achieving 231% of goal, exceeding the goal of 51 new accounts
Kasasa Saver® Savings Account:
206 accounts
achieving 194% of goal, exceeding the goal of 106 new accounts
deposit growth results:
Total Deposits
$2,407,799 deposited
June 1, 2023 – May 31, 2024 achieving a 23.5% increase in deposits received
Kasasa Cash Back® Checking Account:
$246,266
deposited achieving our deposit goal of $230,000
Kasasa Cash® Checking Account:
$1,179,532
deposited achieving 165% of goal, exceeding deposit goal of $715,00
Kasasa Saver® Savings Account:
$982,001
deposited falling slightly behind our target of achieving $100,000
But we didn’t just stop at account & deposit growth; we also knocked it out of the park with our marketing performance:
- Kasasa Checking PPC Performance: Achieved a CTR of 16.94%, exceeding the 5.7% industry benchmark.
- Brand Awareness PPC Performance: Reached a CTR of 13.66%, exceeding the 5.7% industry benchmark.
The campaign’s impressive engagement rates, particularly on paid search, indicate the effectiveness of the targeting and ad content. The high click-through rates on various platforms reflect successful outreach and engagement with potential members. DFCU not only met but exceeded its account growth targets, achieving 596 new accounts and $2,407,799 in total deposits by the end of May 2024. The actual account lift of 34% and deposit lift of 23.5% surpassed the projected 20%, underscoring the campaign’s success in driving customer acquisition.
This campaign taught us that good things happen when you listen to your audience. By conducting thorough target audience analysis, we were able to target DFCU’s perfect customer based on interest, demographics, and buying behavior. Casting our net deeper, not necessarily wider, helped us attract qualified leads that converted.
Threshold’s digital marketing campaign for DFCU proved highly effective in promoting its Kasasa checking & savings account products and attracting new members. By leveraging the unique benefits of Kasasa Cash Back® combined with a strategic digital approach, the credit union achieved significant growth and surpassed its performance goals. This success positions DFCU as a powerhouse in a field steeped with competition.
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