Added incremental annual revenue of $130M through targeted subscriber marketing
The client is a leading regional Asian bank with over 10M retail banking customers. They wanted to expand their credit card business. They lacked a systematic and quantitative framework to acquire customers for credit card services based upon their customer footprint at a lower cost.
An end-to-end customer acquisition solution was built, including the following components: Customer Propensity Model and segmentation, Customer Value Model with customer pre-credit decisioning risk criteria, a stratified business implementation strategy layer to match customer profile and journey with different touchpoints, channels and frequency was developed.
ElectrifAi’s solution achieved 4X and 2.4X conversion rate improvements in telemarketing and SMS campaigns respectively. There was a 72% increase in the numbers of cards issued, with a lower 20%-unit cost of issuing cards.