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Overview: A diversified financial services company wanted to increase product sales and customer retention throughout their customer base. They wanted a program that would add value to the customer while increasing the productivity and effectiveness of their financial consultants.

Challenge: This financial institution needed to create a system that would effectively and efficiently assist the financial consultant in selling additional products and services to their current client base. The challenge was to get a comprehensive view into the client’s interests and behavior. This would allow the financial consultant to:

  • engage in relevant conversations with their clients
  • offer additional services and products of interest, and
  • improve customer loyalty

Solution: During their pilot, a Cross Sell marketing platform delivered over 20,000 personalized email newsletters signed by each client’s financial consultant. With an article from a financial expert as a key offer, the recipient was directed to their individual landing page.

The system tracked and reported all landing page activity so the financial consultants were better able to assist each of their clients with their individual financial needs and interests. The real-time dashboard assisted marketing by allowing them to test and improve the monthly newsletters, making them more effective. Management could analyze what was working and what wasn’t working, from both the reports and the dashboard.

Highlights and Results:

  • The personalized and relevant messages generated an 85% increase in activity over prior emailed newsletters
  • Over 5,000 clients clicked through to read the key article
  • 131 clients showed high levels of interest in a product they did not currently own, i.e. Municipal Bonds and Yield Products.
  • 37 unsubscribed, indicating potential attrition that could be turned around.
  • 391 hard bounces, signaling a change in the client’s information and providing a reason to call to get their customer’s profile updated.
  • This pilot launched the rollout for the entire customer base delivering information to the financial consultants to enable expanded cross selling opportunities.