This competition based email and telephone follow up campaign was run in the summer of 2011, to attract UK small and medium sized businesses with over 20 staff, 3 years old and with a turnover above £2m, to a competition, funding application and business banking finance deal.
Objective: Bank finance applications
Email list: National business group member lists
Open rate: 25,000 (17%) opens
Click through: 572 Enquiries: 14 applications in one day
The objective of this campaign were to help the bank customer service team to engage and sign up businesses that were interested in funding by having telephone conversation to qualify them, find the suitable and interested companies and then sign them up.
Nett Sales did the first 3-days of calls to benchmark what could be achieved. On each day we achieved 10 enquiries and funding applications or more that were passed to the bank. The campaign cost was £1,950 and each closed application delivered £8,000 to the bank. On a 1 in 10 close rate we conclude that a yield of £33,000 was achievable from the £1,950 campaign. More campaigns are planned.
Over the course of the campaign over 25,000 people opened the emails and over 572 read them and clicked through to specially written web pages because they liked what they saw. Each of these interested contacts is now is being followed up by the bank.