Customer Value - Barclays
BARCLAYS

Drive uptake of home insurance amongst existing current account customers 

Barclays wanted to increase customer value by driving uptake of home insurance amongst existing current account customers but they had a major problem, most of their customers didn’t know they sold home insurance. 

Working with McCann Central our role was to provide data and communication planning expertise
We tapped into the customer life cycle for buying home insurance ensuring our contact strategy covered the awareness and consideration phase – ensuring customers consider Barclays when the time comes to renew their home insurance policy, purchase phase - warming up the customer in advance of their renewal month and usage phase - keeping in touch with a post-purchase conversation. 

We tailored our communications so that they were more relevant to how customers view insurance and Barclays. 

We profiled various customer cohorts and identified opportunity segments where we could develop and enhance meaningful relationships.
We classified our current home insurance customers into 3 Attitudinal Segments using a combination of price, process/ease of renewal, quality/cover level, payment options and Barclays holdings to potentially reflect how they view home insurance. We created a message hierarchy matrix to feed into the creative process. 

Our solution to combine customer insights including attitudinal research, demographics & product lifecycle data to create a segmented purchase funnel strategy with corresponding message hierarchies. 

We created a communications framework that increased engagement targets and the value of home insurance sold to current account holders was trebled.      
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