Enhanced credit card retention through data-driven campaign optimization
Overview
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.
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, dialer reports were examined to assess the functionality of the customer calling unit.
Impacts
Analysis of Social Media campaigns
Implementation of the Test versus Control methodology
Post-campaign analysis
Review of campaign strategy and objectives
