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About Washington Mutual
Washington Mutual is one of the nation’s leading consumer and small business banks. The company was established in 1889 and currently operates more than 2,200 consumer and small business banking stores throughout the nation. The marketing department of Washington Mutual is charged with making sure that each of their branches has the right programs to bring customers and new prospects through the door. Steve Sonnen, Vice President of Marketing Delivery for Washington Mutual, and his team are in charge of Campaigns-on-Demand, a web solution constructed by Raine Media to provide their sales teams and branches with customized marketing – from direct mail to signage and support materials. |
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Marketing for large, national financial institutions poses
difficult challenges, particularly due to the need
for the company to reach their local customers with
unique or customized products or services. Without
a standard marketing platform at the regional and
local level, it is difficult to ensure that the regulatory
requirements for financial marketing initiated at that
level are met. In addition, corporate marketing has
the responsibility to provide the proper support for its
local sales representatives and stores, to ensure that
they do not act outside of established brand and
communication guidelines.
To give their sales teams and stores the support they need, the Marketing Delivery team at Washington Mutual needed an accessible system of |
customizable templates to drive all of the aspects
of a marketing campaign. The system needed
to be flexible enough to handle static, versioned
or customized campaigns and include the ability
to launch direct mail, signage, literature, support
materials, or a combination of elements in one or
more mail drops.
Additionally, the system would need to securely manage and segment a massive amount of customer data in order to generate the best possible lead list for each campaign type. A successful marketing platform would also allow corporate marketing to centralize their support for sales teams and stores, reducing overall marketing costs and improving results to measurably increase ROI. |
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The Marketing Delivery team at Washington
Mutual looked to Raine Media, a proven partner who
could create the Campaigns-on-Demand marketing
platform, automate the data management, and
provide reporting and analytics. Raine also designed
the system to integrate into WaMu’s print production
partner, allowing for a seamless “lights out” production
flow. This automation allowed Washington Mutual
to enjoy substantial cost savings in data processing
and production.
Raine’s solution included an easy-to-use interface, to help drive adoption, which would only display campaigns appropriate to the user who had logged in. Once a campaign had been selected, a template with dynamic fields would load allowing the user to customize the campaign to the particular branch or product to be promoted. The Raine solution also automated the creation of recipient lists by segmenting a database of customers based on business rules set up for each campaign. Variables included the distance to the branch location determined by their precise latitude and longitude. Other data elements included past buying behavior as well as additional customer demographics such as age. The first campaigns to be implemented using the Campaigns-on-Demand system were for Washington Mutual Financial Services, allowing sales representatives at branches to initiate custom seminars on a range of topics, from home loans to estate planning. |
Since then, store openings and retail marketing have
also been successfully added to the system. “The
Campaigns-on-Demand solution is flexible and it
allows us to deliver and control the creative elements
the sales reps in the field need, but seldom receive,”
said Steve Sonnen.
Campaigns-on-Demand provides support for 2200 retail locations and 500 Financial Services sales reps. A three month study of the effectiveness of Campaigns-on-Demand for WaMu Financial Services showed substantial improvements from the solution’s targeted and customized local seminar campaigns, including:
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| Steve and his team are excited about building on the success of Campaigns-on-Demand and are already looking into expanding the scope | of the program. The next step will be to expand the solution to cover home loans, in the process engaging Raine to add additional functionality. | |
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| Raine Media is a management consultancy specializing in helping its clients achieve market differentiation by building effective customer information strategies. Raine leverages its research and analytical capabilities, data technology resources, | and its detailed knowledge of a wide number of industries to build and deploy innovative solutions to solve business performance challenges. For more information, please visit rainemedia.com. | |