Our client, a leading bank aimed to assess the effectiveness of its retention unit and associated campaigns targeted at retaining customers looking to cancel their cards. The goal was to analyze the contact rate, save rate, and the performance of various campaigns and channels, ultimately recommending an optimized set of channels.
Overview
Solution
Continuous monitoring of the unit’s contact rate and save rate was conducted, comparing the results with historical data. Strategically designed campaigns were implemented to efficiently target customers across different channels. Monthly tracking of all ongoing campaigns was performed. Analyses followed a test versus control methodology to identify the most effective tactics. Additionally, dialler reports were examined to assess the functionality of the customer calling unit.
Output
Through continuous monitoring and well-designed campaigns, the bank successfully increased both its contact rate and save rate. One significant actionable insight was the identification of successful channels for campaigns.
Highlights:
- Analysis of Social Media campaigns
- Implementation of the Test versus Control methodology
- Post-campaign analysis
- Review of campaign strategy and objectives
