Our Case Studies
Acquisition and Retention
A leading wireless company and a mid-sized retail bank wanted to boost the effectiveness of their acquisition and retention programs. The bank was particularly interested in expanding its retail operations in existing geographic markets, while the wireless company sought to reduce the downward migration of its most profitable cell phone customers. Both companies were open for a strategic alliance and executives were considering an issue of a new co-branded bank card.
Analysis and Teamwork
Based on propensity-to-buy assessments and customers’ current and future profitability, derived from analysis of shopping behavior (frequency of store/branch visits, types of purchases) and typical bank card and cell phone use, we analyzed target customer profiles and segments both for the wireless company and for the bank, resulting in a prioritized list of most valuable customers to reach.
We worked with our clients to understand the customer segment groups and historic preferences by segment and developed a ‘earn minutes as you pay’ bonus program model for a new co-branded bank card. Working with our client to plan the bank card launch, we developed marketing campaigns and media plans tailored to increasing the loyalty of the wireless company’s high-value customer segments, generating an explosive increase in the bank’s retail reach.
A breakthrough in the retail business was, no doubt, the most important achievement of the bank, with a ten-fold increase in bank card issues over 24 months.
The wireless company achieved a 15% reduction in the downward migration of its most profitable cell phone customers. A full rollout of the program followed to all its customer segments.