Situation
For this campaign we called current credit card holders and offered them a trial
membership in an emergency roadside assistance service for $1 for the first
30-days, and then $6.95 per month automatically billed to their credit card.
This offer included a discount coupon book valued at $800 as a free premium.
Additional auto club benefits included trip planning maps, lockout benefits, and
access to certified technicians for second opinions on vehicle repair estimates.
Customers could cancel at any time and receive a full refund for the current
month's billing. Customers who accepted the primary offer were then offered a
discounted 30-day trial on a credit card protection plan as an upsell. Here
again, the cost was $1 for the first 30-days and then $4.95 per month thereafter.
Additional benefits of the credit card protection plan included an annual
credit bureau report, price security for sale priced products, extended warranties
and other benefits.
Solution
We did not have to ask the customer to give us any part of the card number over
the phone, since the client was using his or her own credit card holder list,
and already had the number on record. We simply verified the customer's
city or date of birth as a positive identifier.
Results
| AVAILABLE NAMES WITH PHONE NUMBERS: |
214,000 |
| |
| ORDERS: |
10,795 |
| PRIMARY/AUTO CLUB |
9,859 |
| UPSELL/CREDIT CARD PROTECTION |
936* |
| SALES PER HOUR |
1.02 |
| |
| TOTAL LEADS USED: |
172,568** |
| TLU RESPONSE %: |
5.71% |
| |
| CONTACTS: |
94,689** |
| CONTACT RESPONSE %: |
10.41% |
* The Credit Card Protection Upsell is a recent addition to this program. The upsell
conversion is averaging 27% over the two most recent months of activity.
** Calling was still in process at the time this case study was prepared. Hence, these are
not final list penetration statistics.
Situation
The credit card industry has seen a tremendous increase in number of credit card
accounts and the number of issuers. With the pie being split many ways,
issuers are looking for creative ways to gain market share.
Solution
A large credit card issuer asked us to utilize our marketing expertise for a
short-term marketing program to sell credit cards to members of several affinity
groups. Our innovative sales strategies enabled us to define the types of
credit card users (either convenience users or borrowers) and utilize match
appropriate benefits from the card that would best meet the needs of the consumer.
This resulted in an attainment of 146% to goal.
Results - Benefits
We attained the highest balance transfer rate amongst all vendors (17%). Our
procedures for qualifying a customer netted the highest sales yield and retention
of all vendors. What was a short-term push has developed into a long-term
relationship that still continues today.
Situation
In an increasingly competitive market environment, savvy banks know that fostering
their current customer relationships is the best way to increase revenues per
customer and increase the number of banking products and services each customer
holds. A large regional bank uses a "welcome call" to foster these relationships
and to increase revenue generating opportunities as well.
Solution
Two weeks after a consumer is approved for a credit card we place an outbound phone
call to them. During this call the consumer is introduced to the bank and
offered the convenience of credit card activation along with a brief customer service
survey. Card activations increased over 30%. We also offered the opportunity
to add authorized users at no cost, which netted a 10% increase in new users.
Balance transfers were also offered at competitive APR's. Even with these successful
results, we felt that there was an even greater opportunity to cross-sell and up-sell
other products as well to increase banking revenues.
Results - Benefits
Testing of our suggestions began. Upon credit card activation the customers were
informed of the availability of free on-line banking netting a 29% increase in on-line
banking transactions. A cross-sell to the banks' checking account service was also
tested with 11% of the customers being hot transferred to the bank and opening new
checking accounts. An up-sell to a credit card protection plan was also offered
with a 35% acceptance rate and a retention rate exceeding 90%. All of these programs
performed greatly exceeded the banks' expectations.
The banks objective was to be able to increase market share, customer revenues and
customer satisfaction. Based on the final back-end results these programs proved
to meet and exceed all of the bank's key objectives.
Situation
A regional banking institution desired to offer their customers a Home Equity Line
Of Credit or Home Equity Loan.
Solution
We were asked to make a follow-up outbound call to non-responding customers that
received a direct mail piece offering them a HELOC. We qualified the customer,
collected all the necessary information then "hot transferred" the customer to a
Home Equity Specialist. This lead generation program netted a 25% conversion
rate for the bank. Due to the success of the campaign, all transferred calls
couldn’t be handled. We then utilized our on-line fax capabilities to generate
a faxed lead for the "Specialists". The customers were advised a callback
would occur within the next 2 days.
Results - Benefits
With our abundance of branch locations we were able to use a specific TSR profile
that combined personality and professionalism; traits that are very conducive to
a productive lead generation program. Our telemarketing experience enabled
us to modify qualifying standards, which supplied the lending institution with
high quality leads (up to 1,000 per day). With the recent change in lending
rates the program has now become an inbound call with the same processes in place
(volume is now 10,000 per day).
Situation
Credit card issuers strive to create additional sources of revenue generation while
still delivering customer-focused products and services. Credit protection is
now offered to provide banking customers additional security and peace of mind while
generating significant revenues to the issuing institutions.
Solution
We began calling the CP program with mild success. Feedback from the consumer
was that the product was too expensive. This led us to believe there was
opportunity. We spoke with the client and suggested that we offer CP as a
down-sell to the current offer. The client agreed
and began testing. Results exceeded client’s expectations.
Results - Benefits
Today, various down-sell and cross-sell products are available for several segments of
the clients lead base. Over 150,000 people are receiving offers on a monthly basis
with a conversion rate of approximately 10%. Also, various premiums are being tested
and appear to be a huge area of opportunity as well.
Situation
For this campaign we called current small business customers for an RBOC and offered
them a 30-day trial on DSL Internet service. The lead-in offer was priced at
$59.95 per month for dynamic service with a maximum connection speed of 768K/128K.
We used probing questions and a consultative selling strategy to uncover the
real needs of the prospect, which allowed us to offer a variety of packages for
either dynamic or static service with speeds ranging to up 768K/768K. The top
package was priced at $159.95 per month. There was a $99 one-time charge for
the modem. At various times, the client would offer $100 cash-back, which
most customers applied to the cost of the modem. Routers were available for
either $79.95 (4-port) or $149.95 (8-port). A self-installation kit was
included in the price. If the customer insisted on professional installation,
the cost was $199 to send an installer to the company location.
Solution
The lists were segmented by industry type, which allowed us to penetrate the best
performing segments more deeply. An important element of this campaign was
the need to conduct timely callbacks. We found that the customer frequently
felt a need to consult with his/her superiors or technical staff prior to offering
a final OK. Hence, we installed special callback technology that would allow
us to code a specific callback time into the record and then have our predictive
dialer attempt callback at the specified time and day, and then deliver the call
to the same TSR who made the original contact. Callback sales were 37% of
the net sales, and closed at a 4% conversion versus 0.1% for regular leads, a
4,000% increase in performance.
Results
The following statistics represent 15-months of data.
| NAMES RECEIVED: |
2,033,000 |
| CALLABLE NAMES WITH PHONE NUMBERS: |
1,225,000 |
| % AVAILABLE FOR CALLING: |
60% |
| |
| TOTAL SALES: |
6,487 |
| HOURS: |
57,150 |
| SPH |
0.11 |
| |
| TOTAL LEADS USED: |
924,650 |
| TLU RESPONSE %: |
0.7% |
| |
| CALLBACKS ATTEMPTED: |
60,220 |
| CALLBACK SALES: |
2,427 |
| % CALLBACK SALES TO TOTAL SALES: |
37.4% |
| AVERAGE DIALS PER CALLBACK SALE: |
6 |
| CALLBACK CLOSE RATE: |
4.0% |
|