ChoiceOne Bank has a robust marketing program to promote their existing products and services, but like many community banks, find launching new products and services challenging for constrained resources. Communicating the brand-new Autobooks partnership - not to mention explaining the functionality - was an additional task outside of the current marketing scope.
Because Autobooks works with financial institutions to ensure a successful launch, lending a hand to marketing is part of the package. ChoiceOne initially targeted their known business customers to promote Autobooks.
After the initial launch, Autobooks and ChoiceOne Bank analyzed the customer data and decided to promote Autobooks to a wider customer demographic. This new audience included a segment of customers that bank had not traditionally identified as “business” customers.
Autobooks created in-branch marketing materials, social media posts, multi-step email campaigns, and applied calling outreach to engage ChoiceOne Bank's audience. Engaged businesses could sign up directly for Autobooks within the ChoiceOne digital banking channels, or could schedule time with the Autobooks Support Team to ask detailed product questions, see a product demo, or receive help in migrating from other third party products.
The results of the relaunch netted ChoiceOne an increase of Autobooks adoption by 50%, and a total of 3.4% of the total customer base enrolled in the new product. This was an exciting moment of growth for a financial institution that constantly looks towards the future.
It won't be long before ChoiceOne grows even larger through their announced merger with County Bank Corp. The merger will double their footprint across Michigan, as well as doubling the asset size. ChoiceOne will have a differentiated small business solution they can now promote to a new audience, aiding in customer retention and growth.
