Case Study: a major financial institution boosts new account openings with BI WORLDWIDE

a major financial institution opens 24,000 new accounts in 10 weeks with BI Worldwide

A major financial institution engaged BI WORLDWIDE to help overcome the challenge of attracting new customers for its annual summer promotion. Their goal was to open 18,000 new checking accounts over a 10-week period, a task made difficult by the competitive banking landscape.

BI WORLDWIDE implemented a solution using behavioral economics, replacing a standard cash bonus with an instant-win game and a high-profile Tesla sweepstakes to generate excitement. They also shifted the advertising focus from direct mail to mobile to better reach the target audience. This strategy resulted in 24,000 new accounts in the first promotion and 27,000 in the second, surpassing the goal by 35% and achieving results 50% higher than any previous effort while also reducing the cost per new account.