Acquisition Strategies Must Evolve with Changing Market Conditions
Since the founding of our company in 2000, we have adjusted our approach to growing retail market share seven times. Each change was a direct result of changes we experienced in market conditions, and in every case, new opportunities have presented themselves. Typically, changes have been driven by negative factors driving markets, today is no exception.
The need for liquidity is a focus of many institutions resulting in a competitive environment for low cost core deposits.
When borrowing and interest rates increase, it can put the pinch on financial institutions that use borrowing as a source of liquidity. By working with Stellar to implement both our short-term and long-term deposit solutions, institutions have a proven alternative to rising borrowing rates.
Our Deposit Direct program has been an effective long-term retail strategy focused on generating new accounts, new households, core deposits, and enhanced revenue streams.
With Deposit Direct, your institution is able to communicate directly with consumers as to why your community-based bank or credit union is better for their needs than a large regional or national bank. With our strong focus on data driven analytics, we can reach a more targeted audience with compelling offers that generate better results. As a turn-key direct marketing program, Deposit Direct incorporates the following into a program designed around your budget:
- Customized Direct Mail Production
- Branch Collateral Production
- Front-Line Sales Training
- Mystery Shopping
- Digital Marketing Components
- Account Opening Trend Analysis
- Market Penetration
- Key Competition Analysis
- Attrition Analysis
- New Household Trending
- Campaign Results Reporting
- Comprehensive On-Going Analytics
The Stellar Financial Group has worked with over 1,800 financial institutions since 2000 to assist in growing core deposits, fee income, and overall retail market share growth. We welcome the opportunity to discuss how we can help you take control of your market.
Data-Driven Results Proven over Time
While the opportunities for growing retail market share are expansive in today’s market, the manner in which we take advantage of those is driven by tried and true data-driven applications. The experience of having worked with over 1,800 banks and credit unions over the past twenty-two years has allowed us to have experienced the characteristics of how high-performing and high-growth community institutions have achieved that status. Many have worked with us for over ten years and experienced outstanding growth in both customer and asset growth without ever committing to more than one campaign at a time. We simply don’t believe in long-term contracts.