7 marketing deposit growth strategies you shouldn’t miss
The key drivers to grow deposits revolve around personalisation, digital engagement and technology integration.
Here’s a breakdown of top deposit growth strategies for banks.
| Strategy | Description |
| Personalised marketing | Data-driven, hyper-targeted offers and messaging tailored to individual customer needs |
| Digital & mobile enhancements | Mobile deposits, P2P payments, fraud alerts, card controls, instant card issuance |
| AI-driven intelligent workflows | Automated, personalised customer engagement and risk management |
| Customer retention programmes | Loyalty rewards, exclusive benefits, and identity theft protection |
| Competitive pricing & promotions | Transparent fees, promotional rates, and cash incentives on deposit products |
| Social media and content marketing | Instagram and LinkedIn campaigns targeting both younger and professional demographics |
| Agile branding and market adaptation | Rapidly adjusting marketing tactics based on market and customer behaviour |
1. Personalised and hyper-targeted marketing
Banks are increasingly turning to both 1st-party and 3rd-party data to achieve more precision in their marketing strategies.
Thus, you can deliver highly personalised offers, content, and product recommendations by leveraging detailed customer profiles built from:
Such targeted communication not only improves the overall customer experience but also significantly boosts deposit acquisition and retention rates.
Here at Meniga, we aggregate, consolidate, and enrich internal and open banking data to give you a 360-degree view of your customers’ spending habits and finances.
Key aspects of personalisation’s role in deposit growth
Personalisation plays a central role in attracting new deposits by enabling you to deliver tailored, relevant offers that resonate with individual customers’ financial behaviours, needs, and life stages.
This approach helps you avoid costly, general campaigns.
Instead, you can focus resources on high-value prospects, improving both acquisition efficiency and long-term profitability.
1. Behavioural targeting and hyper-personalised offers
You can use data analytics and AI to analyse transaction patterns, financial goals, and customer preferences, crafting deposit offers, such as targeted high-yield savings accounts or customised CDs that align with each customer’s unique situation.
As a result, you can reduce wasted marketing spend and attract customers more likely to maintain deposits rather than churn.
2. Building multi-product relationships
Personalisation enables bundling products, such as companion accounts, for example, linking CDs with high-yield savings to create multi-product relationships. Therefore, you can increase account longevity and loyalty, making it harder for competitors to ‘lure’ customers away.
3. Meeting diverse customer segments
Customers vary widely, from passive savers prioritising safety to rate seekers and wealth managers.
With personalised marketing, you can address these differences effectively, avoiding one-size-fits-all approaches that often fail.
4. Appealing to younger generations
Gen Z and Millennials, who expect banking tailored to their needs and life journeys, respond strongly to personalised, mobile-native, and authentic marketing. Personalisation is therefore a key factor in attracting deposits from these demographics.
5. Reducing acquisition costs and increasing revenue
Personalised deposit marketing can reduce acquisition costs by up to 50% and increase revenue by 5–15%, making it a critical driver of profitability in deposit growth.
How Meniga helps with personalisation
We use enriched transaction data and AI-driven analytics to help you create hyper-personalised marketing campaigns that match customers’ individual needs.
By doing so, you can avoid creating generic campaigns, a common problem banks have when addressing clients.
Micro-segmentation enables you to categorise customers by their unique spending habits, cashflow status, and financial goals into categories such as Likely to churn, Starting a family, Irregular income, and others, to address their unique banking needs proactively.
2. Digital and mobile banking enhancements
Key capabilities, such as mobile check deposit, peer-to-peer (P2P) payments, real-time transaction alerts, and advanced fraud monitoring, are just a few of the standard features that bring both convenience and peace of mind.
Actually, according to the Motley Fool survey, a staggering 91% of respondents state that mobile and online access is a decisive factor when selecting a bank.
Tools like debit card controls, instant digital card issuance, and the ability to freeze or replace cards directly reduce friction during critical moments.
When customers have 24/7 visibility and control over their accounts, they are more likely to consolidate balances and deposit more frequently.
By offering frictionless onboarding, intuitive navigation, and real-time financial insights, you’ll also appeal to younger demographics who prioritise digital-first experiences.
How Meniga helps with digital banking
Meniga’s Cashflow Forecasting module empowers customers with real-time insights into their financial position, helping them make informed decisions about saving or spending. When your customers can see disposable income in real time and receive proactive nudges about upcoming expenses, they are more likely to make confident, consistent deposits, whether into high-yield savings, fixed deposits, or goal-based accounts.
As a result, this visibility shifts customer behaviour from reactive spending to proactive saving.
3. Use AI to streamline workflows and grow Deposits
AI and automation can streamline your marketing and operational workflows.
Intelligent technology enables you to recognise and respond to customer behaviour in real time across every touchpoint, from mobile apps and email to in-branch visits and call centres.
By integrating customer data with AI-powered tools, you can automate timely, context-aware interactions.
For example, a customer browsing high-yield savings products online might instantly receive a tailored offer via email or an in-app message.
Or, you could re-engage a dormant account holder with a targeted incentive based on predictive churn models.
These intelligent workflows replace static campaigns with dynamic, event-driven engagement that aligns with the customer’s actual financial journey.
Besides marketing, AI also powers backend efficiency by automating KYC checks, optimising onboarding, and streamlining account setup.
Therefore, you can reduce operational friction, shorten the time from intent to deposit, and increase conversion rates.
With Meniga’s AI-powered Insights, you can:
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Offer actionable, tailored guidance that helps customers improve their financial well-being.
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Provide micro-targeted product offers at the right moment to meet customer needs.
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Deliver timely alerts that help customers avoid unnecessary fees.
4. Customer retention and loyalty programmes
It’s a fact that retaining relationships with existing customers is more cost-effective than constantly searching for new ones.
Similar to offers and products, you can also tailor rewards and loyalty programmes according to your clients' financial behaviour, such as debit or credit card usage, recurring deposits, or digital engagement.
Customers can then redeem these personalised points for meaningful benefits, such as travel perks, shopping discounts, or financial incentives.
Value-added services are another key component.
Offerings like identity theft protection, financial coaching, and real-time credit monitoring can position you as a proactive partner in the customer’s financial journey.
Loyalty programs do more than improve retention. They increase product adoption, encourage higher deposit balances, and strengthen the customer’s perception of value.
5. Competitive and transparent pricing with promotional offers
Pricing transparency and promotional incentives have become powerful tools for attracting new depositors, particularly among younger, digitally savvy generations, such as Gen Z and Millennials.
These groups are highly sensitive to fees, they value clear communication, and are quick to compare offerings across institutions.
This shift in consumer expectations presents both a challenge and a strategic opportunity.
Offering competitive interest rates on savings accounts, certificates of deposit (CDs), and money market accounts is crucial for attracting digital-savvy customers.
But the real impact comes when you pair these rates with cash bonuses for new accounts, limited-time promotional offers, or bonus interest for meeting specific deposit or activity milestones.
Not only do these targeted incentives make your deposit products more attractive, but they also create urgency, drive action, and can speed up new customer acquisition.
However, rate competitiveness alone isn’t enough. Simplicity and transparency in fee structures are just as important.
Clearly communicating what customers will earn and what they won’t pay builds trust and removes friction from the decision-making process.
Confusing disclosures, hidden fees, and complex structures often turn away potential depositors, especially younger audiences who want smooth digital experiences.
6. Content and social media marketing
Platforms like Instagram, LinkedIn, Facebook, YouTube, and TikTok allow you to reach targeted demographics on their favourite channels.
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On Instagram and TikTok, you can use visual storytelling and short-form video to connect with younger audiences, especially Millennials and Gen Z.
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Meanwhile, LinkedIn serves as a powerful platform for professional engagement, particularly for attracting SMEs and corporate clients.
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By sharing thought leadership, financial trends, product spotlights, and case studies, you can position yourself as trusted advisors to business and high-net-worth audiences.
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Using lifestyle content, brand insights, or budgeting tips helps you connect with customers more effectively, making your image more relatable and human.
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Another good strategy is to partner with relevant influencers, especially when promoting savings products or financial wellness tools.
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Educational content, such as blog posts, webinars, infographics, and explainer videos, all provide value-driven, easy-to-understand resources. This strategy is particularly effective in generating top-of-funnel interest and guiding prospective depositors toward conversion.
7. Just-in-time branding and market adaptation
Just-in-time marketing is an agile, data-informed approach that allows you to respond quickly to evolving market conditions, customer behaviour, and economic signals.
The strategy involves real-time monitoring of key indicators such as:
You can leverage this data to rapidly adjust your messaging and offers, and capitalise on opportunities.
For example, if economic uncertainty increases, your messaging can shift toward financial security, budgeting tools, or emergency savings options.
How Meniga helps with just-in-time marketing
Meniga’s Smart Savings helps you grow customer deposits by enabling automated, gamified, and personalised saving experiences that encourage customers to save consistently.
What does it mean in practice? Customers can:
1. Choose from gamified saving rules that automatically set money aside.
2. Create specific savings pots to work toward defined targets such as a home, vacation, or car.
3. Receive personalised insights and notifications that encourage customers to save by highlighting opportunities and tracking progress.
