case-studies / boa

Bank of America Driving Recruits to Bank of America in a MINI Cooper

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Put a MINI Cooper next to Bank of America, the nation’s second largest banking institution, and it’s easy to notice the contrast between big and small. Of course, it’s often the small things that allow big companies to expand. And with the help of that little dynamo of a car, Bank of America was able to identify, contact, and recruit top-producing loan originators – a key to their continuing growth.

You wouldn’t think Bank of America would have trouble recruiting top-producing loan originators, but perception is not always reality. That’s why Bank of America turned to e-Storm: to get high-caliber prospects to consider the banking giant as a possible employer.

A Strong Offer For an Equally High Response Rate

In conjunction with City Marketing, our offline advertising partner, we developed a sweepstakes with a MINI Cooper as a prize. The strategy was to attract the attention of “down in the trenches” originators, and then have them self-qualify as a potential employee. With an enticing offer in place, we then used a combination of offline advertising, direct mail, online sponsored newsletters, email and sites to locate a highly targeted prospect list.

• The campaign generated an amount of response that, according to B of A, had never been achieved
• Clickthrough rates for newsletters: as high as 4%
• Third party email lists: 3%
• Conversions to prospective employees: as high as 65%
• For offline: as high as 5% response

In addition, we created a custom-built lead and contact management database, which has become Bank of America’s standard way to manage prospective employee communications. Thanks to this campaign and database, Bank of America recruited more than 10% of its mortgage division workforce.

As Tony Thompson, Vice President of Bank of America’s Consumer Real Estate Division says: “We needed to integrate, track and understand the impact of offline and online marketing activities – e-Storm helped us through the process, and we now have a reliable platform to not only understand the impact of marketing activities, but we also have one to manage relationships with our different audiences."

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