Envision Reply supported the Customer Analytics division of a relevant player in the Italian Banking & Finance industry. The aim was to improve the efficiency and efficacy of the Client’s marketing and commercial processes in the offering of financial products and services to customers.
The challenge of the project was to transform the process of customer behaviour analysis: from a static and quarterly study to a
dynamic and real-time one.
Envision Reply supported the Client along the whole process, starting by engaging all relevant
stakeholders and ensuring the correct identification and sharing of business needs and goals to achieve.
The project started with an in-depth phase of
assessment, mapping and analysis of internal data sources – e.g. CRM or transactional data – to identify recurrent patterns from high-propensity customers for purchasing and/or using specific financial products/services. A
«cohort analysis» approach was adopted, in order to study and design typical behavioural dynamics for homogenous clusters of people, with the same historical observation period.
In a second phase, the implementation of statistics models allowed to identify and extract
trigger events by each target product. Based on these insights, an optimized Marketing Automation tool will be set up to achieve targeted data-driven commercial campaigns and the
conversion rate maximization. A critical success factor for the project was the close collaboration with the IT department, especially regarding the definition of the functional requirements for the
Marketing Automation tool configuration.