Client: domestic, commercial bank
Project: Optimisation of sales campaign
Summary: Our client looked for the households – among their hundreds of thousands of existing customers – that might be open to their new product, in order to run a focused campaign.
Our client selected the retail customers who were presumably open to the new offer, based on internal data and information (customer balance, banking habits and home addresses). The resulting number of customers was still too high, and it was impossible to run an efficient postal and telephone campaign. The number of clientele to approach had to be further reduced.
We analysed the profile of each address at door level by using our databases.
Considering the relevant data of the living area, the mentioned analysis covered the demographic composition of the household, its living situation, estimated income level, and living conditions.
We have successfully reduced the number of potential „approachable” customers using the used data to one-sixth of the original number. It resulted that the amount spent on the campaign also decreased significantly. Beyond the fact that we managed to raise the success rate from the „usual” 2-3 % to above 12%, the profit on the new product increased considerably, because our service cost was just a portion of the potential waste coverage cost of a „full” campaign.