e.Bank Account Opening Kit 2004 Canadian Marketing Association RSVP Gold Award Winner!

This project was aimed at increasing the rate of account opening conversions by making the process easier, providing an interactive Welcome Kit that would guide the customers through the many forms that needed to be filled out and returned; and making it easier for staff to personalize the Welcome Kit and send it to customers rapidly and cost-effectively.

Previously, the Telephone Banking Group mailed the documentation as a number of separate enclosures in an envelope. Many clients got intimidated and confused and there was a high abandonment rate. The new Welcome Kit enclosed all documents in a streamlined portfolio that provided clear directions on how to complete the process. Legal copy was made less obtrusive. Clear, prominent calls-to-action walked the client through the process. A prominent 1-800 number was provided for additional assistance.

On the bank's side, the process to produce the package was streamlined and allowed for a highly personalized letter and package to be created. There was also a net annual potage savings of $16,000.

The plan semmed to work. eBank staffers reported they were receiving fewer calls for help and the original conversion rate of 37% (representing the number of customers who completed and returned their account opening document) jumped by 119% within two months of TD Canada Trust introducing the Welcome Kit.