Acquisition

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Market Opportunity Drives Strategy

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To be successful – even viable – any business must be seen as valuable by its customers, either by providing advice or solutions, being convenient, or cheap. And to effectively support your company’s value proposition, marketing strategy has to differentiate your company, create competitive advantage, and support profitable growth.

Such strategy doesn’t just write itself. To deliver value you have to understand what is valuable to your customers – what do they need and want? To create competitive advantage, you need to understand how your competition is addressing those same customer needs and do it better – with better product solutions, smarter advice, greater convenience, or a lower price.

A different approach to “Free-and-a-Gift” checking programs delivers better results

For a few years now, we’ve believed that “Free-and-a-Gift” checking acquisition programs actually cost community banks in the long run.

We’ve worked with a number of banks to deliver a different approach that engages more new customers and in a way that’s representative of the community bank brand. And it works!

Triple your new checking account acquisition

Off-the-shelf checking acquisition programs have been a staple in the industry for nearly 20 years. For some banks, they’ve proven successful in generating new accounts and driving fee income. But increasingly, their performance has left a lot to be desired. 

A new approach tested by Galapagos clients has delivered results far superior to those free-and-a-gift programs, with higher response rates and generating new customer relationships beyond just free checking.