Customer Data - Leeds Building Society
Leeds Building Society
Leeds Building Society
From not sure to opted in to drive CRM Marketing potential for Leeds Building Society
As part of a wider project with LBS to rationalise their communications during digital migration we created an opportunity to grow their opted in customer base.
We developed an opt in recovery strategy.
We undertook an audit of the physical and digital communications undertaken by the society in order to scale the opportunity cost for transitioning communications to digital.
The audit focussed on 2 areas – the costs saved by not sending physical communications and the value of the opportunity created by CRM Marketing by opening up digital channels to existing customers.
As part of the communications audit, we identified a large number of unqualified customers, excluded from marketing communications despite showing signs of being open to engagements.
With complex permission history to untangle we decided to approach the solution pragmatically. Segmenting the data into 3 pots – Explicit, Implied & Needed.
Our opt in recovery strategy was to draw on the customers own values to develop a simple message to encourage digital marketing sign ups. Customer insight provided 4 different values and a simple test matrix established the most compelling approach for each segment.
Re-establishing opt ins not only enabled migration to a more cost-efficient channel. It increased the opportunity for Customer Relationship Marketing programmes to reach a wider audience and create more value from their owned data.