KeyBank renews AOR partnership with Purple@Epsilon
KeyBank has renewed its agency of record relationship with Purple@Epsilon after an RFP process. The agency will provide direct marketing services, including strategy, direct mail production and analytic support.
Neither company would disclose the specifics of the contract, but they said that terms are set on an annual basis. The companies have worked together since 1994.
Ken Chipman, SVP and director of database marketing and analytics at KeyBank, said an RFP for the bank's direct marketing business was included in its “Keyvolution” program — an internal effort to trim costs.
“We were looking at a number of different agencies and ways to execute our DM process, by either splitting the strategic process away from the actual production, or keeping them together,” he said.
The companies signed the deal last month, Chipman said.
“Our relationship with KeyBank is evolving alongside Key's objectives of achieving more integrated, customer-focused marketing,” said David McRae, president of Purple@Epsilon.
Key conducts the majority of its direct marketing via direct mail with an active universe of between 1 and 1.5 million. The company also does outbound telemarketing to follow up direct mail pieces as well as for standalone initiatives.
In terms of e-mail marketing, Key wants to expand its efforts in the coming year, Chipman said. Currently Epsilon handles the strategy and creative aspects of Key's e-mail marketing, while Responsys executes the campaigns.