Company: SnappConner PR, South Jordan UT
Company Description: SnappConner PR serves as a center for growth and innovation with communications at its core. Yes, we deliver traditional earned media. And, we provide strategies in Thought Leadership, Content Creation, Crisis PR, Reputation Management, Messaging, and Personal Brand. Through this expanded approach, our clients build relationships, close sales, grow profits and do more good in the world.
Nomination Category: Marketing Campaign Categories - Industry
Nomination Sub Category: Marketing Campaign of the Year - Financial Products & Services
 Nomination Title: TAB Bank, Ogden Utah: TAB Bank 2022 Working Capital Campaign
- Which will you submit for this nomination, a video of up to five (5) minutes in length about the nominated campaign or program, OR written answers to the questions for this category? CHOOSE ONE:
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers to the questions for this category, you must answer this first question: Specify the date on which this campaign or program was launched:
January 1, 2022 (ongoing from 2021)
- If you are providing written answers to the questions for this category, you must answer this second question: Describe the genesis of the nominated campaign or program: the reasons it was initiated, the challenges it was created to address, the problems it was developed to solve, etc. (up to 250 words):
Total 158 words used.
Over the past several years, TAB Bank has worked with numerous marketing agencies to increase customers and revenue for its Working Capital portfolio. Historically, none of the agencies could significantly move the needle, yielding a flat ROI on most campaigns. TAB decided to take a different approach toward leveraging marketing expertise and knowledge of the bank products by questioning all previous conclusions regarding the customer profile. The bank brought its Working Capital marketing in-house and partnered with an agency in 2021 to perform an in-depth market analysis which informed a new marketing strategy for the product line. In 2022, TAB engaged a specialized agency to manage digital campaigns and focused in-house resources on improving the website experience and using automation to route prospective leads to the appropriate sales teams.
Goal:
TAB Bank’s goal:
- Obtain a positive ROI on marketing spend for the Working Capital portfolio
- Increase the sales pipeline at TAB Bank via social media and website interaction.
- If you are providing written answers to the questions for this category, you must answer this third question: Describe the development of the campaign or program: the planning process, the goal setting, the creative and media development, the scheduling, etc. (up to 250 words):
Total 249 words used.
The TAB marketing team started by creating a list of the bank’s assumptions about potential end customers and industry brokers. (see ABL question/assumption Excel Spreadsheet). TAB partnered with an agency to perform market research on target audiences, creating in-depth analyses and detailed personas. The methodology included identifying segment characteristics—creating a 99% probability of a customer. They correlated keywords to create a customer's digital footprint that matched the keywords and used data to discover statistically significant insights about where the target customer shops, how they vote, which technology they prefer and more.
For each of the Partner and Prospect personas, TAB developed a series of upper-funnel/awareness videos communicating 1) how TAB helps small and mid-size business achieve their goals by removing financial barriers and 2) how TAB acts as a partner to both clients and referral sources by providing customized solutions and positive customer experiences. The TAB marketing team also created several mid-funnel/nurture ads promoting eBooks about working capital financing, effective asset management, tips for small business owners, etc. Finally, TAB utilized responsive search ad campaigns for bottom-funnel demand capture to supplement SEO improvements made throughout the year for increased organic reach.
TAB leveraged customer audience lists to exclude current clients while identifying similar audiences within the search and social media platforms. Additionally, potential prospect lists were generated using account-based marketing and included for comparative testing. TAB segmented the social media campaigns by industry, and insights from the market research project were used to determine persona-based and firmographic targeting selections.
- If you are providing written answers to the questions for this category, you must answer this fourth question: Outline the activities and concrete results of this campaign or program since the beginning of 2021. Even if your initiative started before 2021, limit your response to activities and results since the beginning of 2021 only (up to 250 words):
Total 249 words used.
Activities
As planned, TAB ran several multi-channel marketing campaigns throughout 2022. Additionally, TAB created a custom landing page for the direct-response digital ads that provided general product information and allowed individuals to indicate whether they would like to be contacted by a sales rep. For those seeking information only, the form requested their email address and the products of interest to them. Submitting the form triggered an automated email with links to more information about the selected TAB products. Prospects who indicated an interest in speaking with sales were presented an extended form that collected additional contact and business information. TAB used those fields to determine which sales team would be most appropriate to follow up on the inquiry. This allowed Sales to focus on more qualified leads, while nurturing those still in research and consideration stages.
Results
The results of the 2022 campaign were quite impressive. 2021 was a record year for TAB Bank’s Working Capital, but 2022’s results have outperformed 2021.
Asset-Based Lending
- 13X ROI
- Increased number of loans funded by 33% year over year
- Increased total amount funded by 270% year over year
- Reduced customer acquisition cost (CAC) by 20% year over year
- Increased sales pipeline opportunities from marketing by 13% year over year
Accounts Receivable Financing
- 7x ROI
- Increased number of loans funded by 385% year over year
- Increased total amount funded by 263% year over year
- Reduced CAC by 53% year over year
- Increased sales pipeline opportunities from marketing by 40% year over year
- You have the option to reference here any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 80 words used.
Included in the attachments are the following:
- A full, detailed report of the research process by which TAB Bank determined the personas for both customers and partners (link to report).
- An excel spreadsheet on the questions and assumptions made in persona research (attachment).
- Persona samples for ABL Brokers and ABL Customers (attachments).
- The Working Capital customer landing page and Partner Landing page (URLs).
- The campaign materials used to target both customers and partners, which include videos, eBooks and ad examples.
| Attachments/Videos/Links: |
|---|
|
