Marketing Databasics awarded major CRM analytics contract from Royal & Sun Alliance
Royal Sun Alliance has recently brought their previously separately branded group of products together under the unified "MORE TH>N" brand. The MORE TH>N organisation promotes their full range of financial services products as a single portfolio, and markets them directly to the consumer primarily via the call centre and website. A consequence of this change for Royal Sun Alliance is that it allows a single customer view to be implemented across all product holdings.
These two developments present Royal Sun Alliance for the first time with opportunities to maximise customer potential by implementing a series of CRM analyses that make customer data central to driving strategic business objectives. Furthermore, the new brand values are about delivering a difference in service to the customer and providing customers with new opportunities resulting from new technologies. The benefits to the organisation and to the customer can be summarised as:
- Organisation perspective - to maximise the potential value of customers
- Customer perspective - to receive better service and more appropriate offers; to develop the relationship
These two objectives are complementary and are very much in line with the brand values of the organisation.
Marketing Databasics' best practice methodology DataSteps™ - for the design and implementation of a Customer Value Management (CVM) programme - demonstrated to Royal Sun Alliance (RSA) how their business objectives would be achieved in their desired timescale.
Key deliverables from this assignment are:
- Customer flows report and presentation
- Robust 'natural' strategic segmentation
- Detailed segment profiles and descriptions
- Technical implementation of segmentation
- Customer value/profitability model
- Suite of scorecards for optimising customer contact strategies (by channel)
- Contact planning document and implementation of business rules to deliver the contact matrix
A robust strategic customer segmentation lies at the heart of successful CRM planning for an organisation. Marketing Databasics view segmentation as a strategic tool for setting customer objectives, planning customer contact strategies and monitoring subsequent customer development. The segmentation also provides a framework for addressing brand and product development issues by allowing the organisation to better understand its customers and use this information to maximise their potential.
It is Marketing Databasics' belief that embedding the segmentation into RSA's corporate planning is extremely beneficial because it allows:
- A consistent benchmark for monitoring
- A common currency for MI
- A stable basis on which to plan contact strategy
- A framework to assess gaps in acquisition strategy, product portfolio etc
Segmentation and targeting models achieve the 'who-to-target and what-message' element of customer contact planning. Optimising the 'how', or channel element is also an important task. For example, one of the stated aims of RSA is to move a greater percentage of sales to emerging channels, and to manage more customer interactions remotely. Key to delivering this strategy is deciding which customers (or potential customers) are likely to be most responsive to these communication channels. Marketing Databasics have a great deal of experience in helping organisations to optimise their communications mixture for maximum return on investment.