Direct mail campaign helps boost bank's revenues by $4 million.

• Position: New Products - Barnes Bank - Brief article

When Barnes Bank (assets $602 million; 10 locations) Kaysville, Utah, rolled out its Premier Checking account, the marketing director, Rob Pyper, hired Sharp Analytics, Salt Lake City, to produce a prospect list matching the profiles of qualifying customers.

The vendor came back with 10,000 prospects, broken down into groups of 1,000 names within a predetermined radius of each of the 10 branches. Barnes then sent direct mailers promoting its new product to these prospects.

Over the course of a six-week campaign, the bank was able to verify that the $7,500 spent on the direct marketing campaign resulted in over $4 million of the $24 million in new money brought in by the multichannel campaign. This revenue was not from the new product alone, but from new customers for other bank...