Aggressive Growth for a Super-regional Bank’s Checking Program

Amplifying growth by investing in strategic direct marketing


For a large regional bank in the Northeast, their checking account program could be summed up in one word: underperforming. After adding less than 10,000 new accounts from direct mail in one year — and with flat acquisition for several years prior — the bank wanted to aggressively scale their growth efforts within the constraints of their annual marketing budget.


With the bank’s goals in mind, Onboard Partners charted a path to rapidly acquire new accounts by improving incentives, refreshing creative and increasing mail volume.

  1. With our access to capital and strategic marketing expertise, we were able to fully fund the efforts necessary to grow the client’s checking program. Onboard Partners paid upfront for all campaign expenses.
  2. To incentivize acquisition of high quality accounts, Onboard Partners was paid only when new customers met certain criteria, such as direct deposit setup and monthly deposit minimums.
  3. Our strategy included scaling annual mail volume tenfold — from 2 million pieces to more than 20 million — and helped reach valuable audiences more likely to convert.


By increasing mail volume and targeting high quality prospects, Onboard Partners was able to help the client bank exceed their goals and increase new checking relationships from direct mail by more than 800% in the first year alone*. With our team taking on the performance risk of the campaigns, the client was able to accelerate their outcomes while amortizing their marketing spend over time.

  • 60,000 new checking accounts from direct mail in the program’s first year — and over 100,000 per year in subsequent years
  • Cost per acquisition decreased by 12% in year one and an additional 18% in year two
  • Program expanded to include digital marketing following year two
  • Costs amortized over the average life of the account to better match acquisition expenses with revenues generated

In addition to achieving immediate profit-generating results, Onboard Partners helps client institutions strategically build programs that drive lasting value for their customers and stakeholders. With our team acting as both an advisor, investor and executor, we are able to accelerate strategic and financial opportunities and deliver clients high impact, high growth outcomes.


*  The 800% increase in new checking relationships in the first year is based on comparing the number of new checking relationships delivered through direct mail in the prior year to the number of checking relationships delivered in the first year of Onboard Partner’s funding.

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