Xerago turned around a major Indian bank's marketing programs in record time to deliver a 200% increase in marketing velocity and a 30% incremental activation rate.

"The client is a leading Indian provider of financial services who is also one of India’s largest banks by market capitalization and by assets it serves more than 50 million customers offering a variety of banking services."

Challenges

The bank's success and rapid growth led to the constant introduction of a varied set of product and service lines. It was looking to market its growing products & services to leverage its customer base to optimize returns and bottom line revenue, and increase customer profitability through deeper, stronger customer relationships. The bank was running around 100 campaigns annually on the existing base of 30 Million customers. The number of campaigns was highly insufficient and failed to evoke sufficient returns from base marketing and CRM efforts. Considering the multiple formats and variety of data across a plethora of systems that housed transactional product data, the data warehouse and operational CRM systems like Talisma the IT Team was manually generating the data required for the campaigns.

Solution

Xerago was selected as the marketing partner to identify the right platform, drive the implementation and streamline campaign development and management. Xerago analyzed the bank’s marketing environment and found out that a central, automated process was required to access data across systems as well as plan, design, test, optimize and execute marketing efforts across channels including direct mail, email, SMS and call centers. This was because the bank’s customer data was scattered across multiple systems and communication strategies and market analysis existed in numerous excel spreadsheets making it nearly impossible to design and manage targeted marketing efforts. Xerago identified that a mere implementation of marketing automation platform would not help the bank overcome the marketing velocity challenge. An effective solution would encompass:-
  • Integration of stand-alone data sources from Operational CRM systems, Core Banking System, Data warehouse and other stand-alone product applications like Card Management System.
  • Streamlining of campaign development process
  • Capability for data transformation and preparation
  • Implementation of the marketing automation platform components and configuration
  • Create a culture of analytics led marketing programs
Xerago customized and implemented the Unica Enterprise Marketing Management suite that supported robust modeling, customer analysis and right-time interaction management capabilities.

Results

Technology

Record implementation of Enterprise Marketing Automation in 90 days

Reduced acquisition costs by 60% in campaigns

Boosted incremental customer retention by 4%

Increased campaign volume by over 200% in six months

Achieved an incremental activation rate of 30%

IBM Unica EMM

Results

Record implementation of Enterprise Marketing Automation in 90 days

Reduced acquisition costs by 60% in campaigns

Boosted incremental customer retention by 4%

Increased campaign volume by over 200% in six months

Achieved an incremental activation rate of 30%

Technology

IBM Unica EMM

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