Financial Services Company: Case Study

The Challenge

A global financial services company came to DMM with a requirement for the development of a web based solution to distribute customer and prospect leads to its base of 2,000 financial analysts located throughout a nationwide network of 800 branches. The system needed to provide for the deployment of the leads with detailed information, contact management, activity logging, and real-time reporting. The application also needed to be easy to use and implemented with minimal training.

Solution

Using DMM's scalable and secure CRM platform for contact management, DMM provided a custom solution that enabled the client to meet their needs. Our team of business analysts worked directly with the client at home office and with representative users from the field. Our approach was to use DMMs CRM toolkit to develop a custom interface that would be hosted and served by DMM. This enabled the client to have the control, flexibility, and focus that was necessary to complete the project on-time.

Key elements of the system include the following:
  • Sophisticated CRM technology for managing leads and lead contacts
  • Intuitive easy-to-use interface requiring minimal training
  • Real-time online reporting across the entire enterprise
  • Scalable platform to accommodate future branch growth
  • Backend tracking and reporting on actual sales
The Results

Initially rolled out as a pilot to 10 branches, DMM's solution quickly beat out other competing solutions because of its ease of use, scalability, quick implementation, and custom interface. After the pilot phase, DMM successfully rolled out the system to the entire branch network over a period of three months.

DMM's solution has been very successful, resulting in increased customer contact and new sales to both new and existing clients. The application was widely accepted in the field because of its easy to use interface. The wide acceptance across the company has been the key to our clients CRM success. Numerous big name solutions had been piloted previously and failed because they were to complicated use.


Canada Financial Services Company: Case Study

Situation

This large Financial Services company required a flexible Canadian direct mail process that would achieve maximum ROI on their direct mail investment by generating traffic into the branch loan offices. The company also planned to dramatically increase their direct marketing effort in Canada so the solution had to be scalable. The requirements drastically changed with the companys acquisition of a competitor resulting in a large increase in the number of branch offices and an increased direct mail volume.

Strategy

To develop a process that included targeted direct mail generation, results reporting to measure the effectiveness of the campaign, and ad hoc on-line query capability for immediate analysis. The processes were to be developed utilizing standard software components and develop easily customizable software where required for specific processes.

Solution

Utilizing standard software such as Group 1, National Change of Address (NCOA), Do Not Solicit (DNS), and Pre-Screen processing with Canadian credit bureaus, and mail simulation based upon past history, Data Management Marketing (DMM) developed a direct mail process that achieved optimum response rates coupled with a lower cost of mailing.

Using these processes, DMM has built and maintains a complete Canadian prospect database that includes a number of national Canadian list sources. This database includes modeling attributes and credit bureau aggregate data.

A customer database was also developed to provide tailored targeted customer direct mail. Both customer and prospect database are pre-screened at Canadian credit bureaus and both pre-approved and non pre-approved offers are developed based upon the criteria returned from the bureaus.

An on-line campaign results analysis tool was implemented that allows the customer to analyze results within one week of the mail reaching the customer / prospect. These results reports also allowed the customer to analyze credit risks as a part of the campaigns. The analytic tool also allowed ad hoc analysis in order to very quickly fine-tune follow-up mail campaigns.

Benefits
  • Overall lower cost per loan resulting in increased ROI.
  • Higher response rates resulting in higher traffic rates for the offices.
  • Lower production costs through better mail targeting.
  • Lower default rates as a result of loans targeted based upon credit risk analysis.
  • Better modeling based upon mail and results data.
Key Components
  • Achieve maximum ROI from direct mail process
  • Flexibility in mail offer selection process
  • Results reporting process to validate testing, fine tune future mailings
  • Development of an historical mailing / results database for on-line analysis
  • Working with Customer legacy systems
  • Going from 50 to 300 branches and merger of different data processing systems
Prospect
  • Building of a prospect database representing all households in Canada
  • This includes special Hot lists
  • Address standardization
  • NCOA processing on lists
  • Merge/Purge de-duping (DNS,prior mail, customers)
  • Credit attribute pre-screening for pre-approved offers
  • Modeling and appending of model attributes and credit bureau aggregate data to the database
  • Simulation of mail results for mail record selection based upon historical performance by model segments
  • Mail offer process based upon prospect selection criteria and test package requirements
  • Generation of mail file for production processing
  • Results processing to track performance of mail records
  • On-line Internet access to flight performance for marketing and credit performance
  • Fine-tune future mail offers in order to maximize ROI
Customer
  • Building of a customer database representing all current and former customers in Canada
  • Address standardization
  • NCOA processing on master file
  • Merge/Purge de-duping (DNS) and householding
  • Credit attribute pre-screening for pre-approved offers
  • Modeling and appending of model attributes to the database
  • Mail offer process based upon customer selection criteria and test package requirements
  • Generation of mail file for production processing
  • Results processing to track performance of mail records
  • On-line Internet access to flight performance for marketing and credit performance
  • Fine-tune future mail offers in order to maximize ROI.


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