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BankMobile

The Background

BankMobile + CMG

Since 2019, BankMobile has partnered with College Marketing Group to promote new mobile banking services to college students.

BankMobile is a digital-only checking account for students that gives them the power to bank anywhere, anytime. BankMobile has been on a mission to help students become financially independent for over a decade. They understand that learning to manage money in school not only supports students’ financial well-being but can lay a foundation for overall success. 

BankMobile Vibe was designed with features and functionality to empower and guide students in their pursuit of financial and academic success. 

After understanding BankMobile’s unique needs, our marketing and sales team at College Marketing Group developed a strategic plan to deliver the best campaign results. 

The goal was to target 100 universities nationwide with a 30-day mobile campaign to promote BankMobile Vibe and increase brand awareness to the target demographic. 

Our focus for reaching our campaign goals was on using a strategic blend of email and programmatic marketing to reach parents of students and incoming freshmen where they interact the most: online.

The Challenge

Like many banks and financial institutions, BankMobile was having challenges marketing their services to college students, and their parents, during the COVID-19 pandemic. BankMobile competes with other top financial institutions in the digital banking sphere such as Chime (est. 2013) and Simple Finance (est. 2009). While BankMobile knows that they offer a uniquely valuable, digital-only checking account for students, they were seeking our support in reaching parents of college students and delivering a creative and targeted digital marketing campaign. That is where College Marketing Group shines.

The Execution

The BankMobile Marketing Campaign targeted 100 universities nationwide with a goal of serving >4,500,000 impressions to parents of students and incoming freshmen within 30 days of launch.

Email Marketing

BankMobile Email 1

Our dedicated account team at College Marketing Group worked with BankMobile to develop and launch email blasts to parents of students and incoming freshmen at targeted geolocations. College Marketing Group utilized a strategic duo of email and programmatic marketing tactics to exceed the target of >4,500,000 impressions. The individuals reached were all within close proximity to college campuses thanks to our geofencing capabilities. Each email campaign consisted of two email blasts sent over a period of 15–30 days, and was uniquely designed with a specific offer and call-to-action (CTA).

BankMobile Email 2

Email #2 in the BankMobile campaign went out to the same 250,000 individuals within the specified target demographic of parents of students and incoming freshmen connected to universities nationwide.

Programmatic Marketing

Our programmatic capability, geo-fencing, allowed us to select a specific area where the BankMobile promotions were likely to be successful, around college campuses and universities, and deliver ads to any mobile device user within that geofenced territory.

Graphic designers at CollegiateParent/College Marketing Group developed animated display search ads in varied sizes to be displayed across multiple search engines and in print publications. There were 11 total ads published including five print publication editions of the College Parent Magazine that were distributed to college students and their parents at Kennesaw State and Florida State Universities.

The goal of BankMobile’s print and digital ads through CollegiateParent was to reach parents of students through CollegiateParent print and digital platforms. The target goal was 4,500,000 impressions.

BankMobile Ad

BankMobile Screen Spread

BankMobile Phone

Data Chart

Campaign Results

Email Marketing Campaign Results: 

We successfully executed email marketing campaigns to over 250,000 email addresses. These campaigns targeted parents of students and incoming freshmen at colleges and universities in Texas, California, Kentucky, Louisiana, Oklahoma, Florida, Michigan, Maryland, and Ohio. 

Email marketing to college students has proven to be an effective strategy for banks and financial institutions.  BankMobile’s email marketing successes include the following accomplishments to date:

  • 12,711,215 impressions on college students and their parents within the targeted geolocations
  • Delivered 500,000 emails to parents of college students and incoming freshmen

Programmatic Marketing Campaign Results:

We promoted the BankMobile app at numerous college campuses and significantly boosted web impressions among parents of college students and college freshmen using their mobile devices.

Key Takeaways From Our Programmatic Marketing Campaign: 

  • By utilizing geofencing, we obtained over 8,000,000 impressions across 100 markets and exceeded the industry standard CTR (0.05%)* by more than double.
  • Search and Keyword retargeting could be added on a future campaign to increase impressions.

Client Testimonials

“Year after year, BankMobile has relied on CMG to execute email and digital campaigns that deliver results. We are excited to partner with CMG as students return to campus this fall.”
– Jackie at BankMobile

Jump-Start Your Email & Programmatic Marketing Campaign

To learn more about College Marketing Group’s services and how we can create a targeted digital campaign for your brand, get a quote today!