Provident Case Study Final Uk


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Provident Case Study Final Uk

  1. 1. Provident Financial benefits from smartFOCUS modeling services Provident UK Home Credit is a division of Provident Financial, a FTSE 250 company. The UK Home Credit division has over 1.4 million customers and has been in existence since 1880. Background Customer Provident UK Home Credit set a goal at the beginning of 2005 to reduce Cequity's end-to-end suite of integrated Provident Financial their mailing volumes whilst maintaining their level of sales. To help services includes customer management achieve this, smartFOCUS were commissioned to build a propensity consulting, marketing database & model. The requirement of the propensity model was to calculate the information management solutions, Industry Sector probability of a customer responding to a mailing and taking out a loan analytics, metrics & dashboards and issue that they would not have done otherwise. campaign measurement support. Our Financial Services state-of-the-art technology solution, Cequity ACE is powered by smartFOCUS Provident and smartFOCUS developed a close partnership to harness the Solution and is a hosted customer marketing knowledge and experience from both companies to produce the model. system that can be quickly implemented Modeling without major hardware or software Modeling through Intelligent Marketing investments. This helps us deliver rich yet During the modelling project, a number of workshops were held where Solution Components valuable, information-driven, customer the smartFOCUS Consultant worked on site to ensure skills were experience opportunities for you. transferred. Data Quality/Management “From our experience, the Intelligent Analytical Marketing from smartFOCUS makes it possible The modelling process steps were: to instantly analyze, segment, identify and Single Customer View communicate with large volumes of customers and contacts on an individual basis. Intelligent Agree the number of campaigns to be analysed and the variables to be Analysis & Visualization Marketing improves customer communications - built throughout the entire lifetime of a company- Setup Modelling Customer database Predictive Modeling customer relationship and makes performance Build the analysis variables for modelling driven multi-channel marketing a reality. Campaign Management Exploratory Data Analysis including Customer Profiling and CHAID smartFOCUS is faster and more efficient than we Build the models thought it would be!” Email Marketing The result of the modelling project was the development of four Online Execution CEO - Cequity Solutions predictive models. These have since been used by Provident since mid 2005 to improve their targeting of mailing campaigns. Performance Management The skills and knowledge gained by the Provident team, through working Consultancy closely with the smartFOCUS consultant, has enabled them to develop numerous other predictive models themselves. Phil Berry, Head of Marketing, Provident UKHC remarked that, “We have observed an improvement in response rates since implementing the propensity models. We have also successfully built a number of additional predictive models at Provident, using the smartMODELER functionality and the knowledge gained from the original propensity modelling project” Caroline Bastow, Customer Insight Manager, Provident UKHC said, “The knowledge and experience we gained throughout the propensity modelling project has enabled us to produce a number of other predictive models using smartMODELER. This has given Provident a much greater insight into the behaviour of customers and will lead to positive changes in the marketing strategy to customers” Continued overleaf
  2. 2. About smartFOCUS smartFOCUS (LSE:STF) is a leading international marketing software company that empowers marketers with the intelligence to drive high performance multi channel campaigns and more valuable customer relationships. Its Intelligent Marketing solutions integrate off-line and on-line data, analysis, campaign and performance management to deliver better targeted more timely and relevant communications that increase campaign conversion rates and improve customer’s insight. smartFOCUS now has over 300 customers worldwide using its marketing software including AAA, ABN AMRO, ATOS, Centreparcs, EMI, Fig Leaves, Harrods, Hilton International, NSPCC, Societe Generale and QVC. In 2006 smartFOCUS experienced revenue growth of 52% to £9M. The organisation is headquartered in the UK, with offices in the US, continental Europe and Asia Pacific. Contact Details “The Provident Financial modelling project Note: This is an ‘original paper’ by smartFOCUS. Cequity ACE is powered by provides a template for businesses wishing to smartFOCUS and Cequity uses this distinguished technology to empower its end-to-end suite introduce new advanced of analytical marketing and customer relationship management solutions. analysis and modelling capabilities in a low risk way through a structured approach. The highly effective partnership approach has delivered real tangible value.” Reach us at: 105-106, 1st Floor, Anand Estate, 189-A, Sane Guruji Marg, Mahalaxmi, Mumbai-400 011, India Phone: +91 22-43453800 Fax: +91 22-43453840 For more case studies, white papers and presentations log on to: Or Write to: For the latest thinking in Analyical Marketing, check out our blog at: Powered by