Deciding who gets what, when, and how
One of the greatest problems facing marketers in a multi-channel on-line and off-line environment is working out how to give the most effective flow of communications to each customer and prospect – we call this contact optimisation.
The benefits of contact optimisation, when correctly undertaken, are huge in terms of improved ROI from customer communications (we have cases of 25%+ uplift), as well as improved customer experience and reduced opt-out.
But why are so few companies fully getting to grips with it when the technology is available, and the data is often there? Is it just that managing BAU leaves little desire for change?
We believe that contact optimisation is often seen as too complicated, and requiring too much resource to introduce, when in reality planning resource is much reduced by using the technology properly.
By following a logical methodology that progresses from deciding what stage in a relationship each customer is at, to selecting from a range of potential communications which one to use for each individual, and then applying rules about contact density, we can clearly understand the processes required, and get hold of the benefits.
At Berry Thompson we provide a full contact optimisation service; proof of concept, project management, decision engine technology, and insight; we have been working in this field for over a decade, and would like to share our experience with you.
Berry Thompson are delighted to announce that the first predictive underwriting insurance product has been sold by African insurer ABSA. The model predicts a customer’s likelihood of health and avoids lengthy underwriting questionnaires.
For more details please read: http://www.fin24.com/Money/Health/Predictive-medical-underwriting-launched-20150422
If you would like to know more about how predicative modelling can help your company please get in touch.