Barclays customers were being sent disparate communications for several different financial products. We were asked to help make customer communications more targeted and relevant, reduce costs and increase sales.
We analysed over 3 million records on a monthly basis with 500 variables from a variety of Barclays marketing databases. From this, we created a single customer view, allowing us to optimise all communications. Campaigns were developed for 15 products across three channels, based on extensive ‘what if’ simulation models predicting results.
For Barclays’ lending business, we achieved a 60% increase in profitability with 19% reduction in costs. For their savings products portfolio, we increased retention and helped move Barclays from 10th to 3rd in the savings market.