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Dm2008 Banking

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  • 1. DMix impact survey in Insurance sector
  • 2. KEY MESSAGES  The results presented in this document were obtained during a pilot in the insurance sector (for company A); pilot was run in two phases: first phase without ATL campaign, second with ATL campaign (TV, radio, press, internet)  The results of the market research show that DM is a well suited medium to support calls, as well as to build brand image. – DM increases the acceptance of calls, from 51 to 58%. This leads to a positive ROI for DM + call vs. call alone. – Moreover, due to fast decrease over time of the DM recall rate, calls should closely follow reception of DM. – DM helps to build brand image (10% increase in number of people agreeing with brand statement due to DM) – DM has a better recall rate than ATL media Source: Team analysis 1
  • 3. PILOT SETUP PHASE 1 – NO ATL Number of market x research interviews Group 1 Group 1 Group 5 Group 5 National DM referring to National DM referring to Reference group (exposure Reference group (exposure branch branch to no media) to no media) 351 150 Group 2 Group 2 Group 4 Group 4 National DM (with regional National DM (with regional Call Call customization) referring to customization) referring to branch + call branch + call 350 316 Source: Team analysis Total of 1167 interviews 2
  • 4. PILOT SETUP PHASE 2 – ATL Number of market x research interviews Group 1 Group 1 Group 5 Group 5 National DM referring to National DM referring to Reference group (ATL only) Reference group (ATL only) branch branch 353 151 Group 2 Group 2 Group 4 Group 4 National DM (with regional National DM (with regional Call Call customization) referring to customization) referring to branch + call branch + call 349 328 Group 3 Group 3 National DM referring to National DM referring to website website 352 Source: Team analysis Total of 1533 interviews 3
  • 5. KEY MESSAGES  The results presented in this document were obtained during a pilot in the insurance sector (for company A); pilot was run in two phases: first phase without ATL campaign, second with ATL campaign (TV, radio, press, internet)  The results of the market research show that DM is a well suited medium to support calls, as well as to build brand image. – DM increases the acceptance of calls, from 51 to 58%. This leads to a positive ROI for DM + call vs. call alone. – Moreover, due to fast decrease over time of the DM recall rate, calls should closely follow reception of DM. – DM helps to build brand image (10% increase in number of people agreeing with brand statement due to DM) – DM has a better recall rate than ATL media Source: Team analysis 4
  • 6. CORRELATION BETWEEN SUCCESSFUL CALLS AND PROGRESSION OF CUSTOMERS ALONG PRODUCT FUNNEL DISGUISED CLIENT EXAMPLE Percentage of respondents Product funnel – insurance products of company A* Intention to contact Awareness Consideration to buy company A for (x) Total sample information size  "Do you know  "Would you consider  "Did you contact company A as company A today to company A regarding insurance company?" subscribe your your insurance or do insurance?" you plan to do so?" Increasing the Received call but acceptance rate of did not accept (142*) 95 10 10 10 14 14 1 calls increases conversation  Consideration to X3 X 13 buy insurance products Received call and  Intention to contact accepted (172*) 95 31 31 30 43 43 13 company A for more conversation information * Only respondents recalling call Source: Market research on 2700 customers (1167 without ATL, 1533 with ATL); Team analysis 5
  • 7. IMPACT OF DM ON CALL ACCEPTANCE DISGUISED CLIENT EXAMPLE Percentage of respondents Call funnel* (x) Total sample Received call Accepted call size  "Do you remember receiving a call from company A during last two weeks? Did you take the call?" Without DM (144*) 100 51 51 51 + 14% accepted DM strongly increases calls the acceptance of calls, helping to drive With DM (170*) 100 58 58 58 customers along the product funnel * Only respondents recalling call Source: Market research on 2700 customers (1167 without ATL, 1533 with ATL) ; Team analysis 6
  • 8. DM AS SUPPORT TO CALLS HAS A POSITIVE ROI COMPARED TO CALL ALONE Incremental margin*/costs induced by DM; index Short tem impact – advertised product 146 Short tem impact – 91 cross-selling  DM as support to calls has a 122 positive ROI of 259%, taking into Long term impact account short term impact of advertised product, short term Total incremental impact of cross-selling and long 359 term impact margin  Only considering short term impact DM costs 100 of advertised product gives a positive ROI of 46% Total campaign 259 return ROI (Call + DM vs. 259% call alone) * Based on 10 year NPV Source: Market research on 2700 customers (1167 without ATL, 1533 with ATL) ; Team analysis 7
  • 9. KEY MESSAGES  The results presented in this document were obtained during a pilot in the insurance sector (for company A); pilot was run in two phases: first phase without ATL campaign, second with ATL campaign (TV, radio, press, internet)  The results of the market research show that DM is a well suited medium to support calls, as well as to build brand image. – DM increases the acceptance of calls, from 51 to 58%. This leads to a positive ROI for DM + call vs. call alone. – Moreover, due to fast decrease over time of the DM recall rate, calls should closely follow reception of DM. – DM helps to build brand image (10% increase in number of people agreeing with brand statement due to DM) – DM has a better recall rate than ATL media Source: Team analysis 8
  • 10. DM RECALL RATE STRONGLY DECREASES AFTER ONLY A FEW DAYS DISGUISED CLIENT EXAMPLE Percentage of respondents; Customers receiving mailing DM recall rate (y) Total number of customers having received DM and interviewed Aspirational target 60%  Due to fast drop of 53% DM recall, follow up (15) calls should optimally be given 38% within a few days (106) after reception of 30% 29% DM (150) (92)  Level of recall after 2 20% weeks is still 17% DM (134) comparable to (105) received typical TV recall rate (15-20%) Day 1 Days Days Days Days Days Days 5-6 7-8 8-10 11-12 13-14 15-16 Source: Market research on 1533 customers; Team analysis 9
  • 11. KEY MESSAGES  The results presented in this document were obtained during a pilot in the insurance sector (for company A); pilot was run in two phases: first phase without ATL campaign, second with ATL campaign (TV, radio, press, internet)  The results of the market research show that DM is a well suited medium to support calls, as well as to build brand image. – DM increases the acceptance of calls, from 51 to 58%. This leads to a positive ROI for DM + call vs. call alone. – Moreover, due to fast decrease over time of the DM recall rate, calls should closely follow reception of DM. – DM helps to build brand image (10% increase in number of people agreeing with brand statement due to DM) – DM has a better recall rate than ATL media Source: Team analysis 10
  • 12. INITIAL POSITION OF COMPANY A vs. COMPETITORS ON VARIOUS DIMENSIONS DISGUISED CLIENT EXAMPLE 'To which extend do you agree with the following statements concerning the following insurance companies?' Dimensions with biggest gap Rating on a scale 1 to 5*; % Completely or somewhat agree (% of 4 or 5) compared to competitors Professional service Company A Company B Easy to contact 60 Good Company C reputation Company D 40 Company A rating from Products Original customers receiving customized to my 20 advertisement neither DM nor call needs 0 Flexible payment Wide range of options insurance products Excellent value for High compensation Products easy to money level understand * 1: I completely disagree, 2: I somewhat disagree, 3: I neither agree nor disagree, 4: I somewhat agree, 5: I completely agree Source: Market research on 1167 customers; Team analysis 11
  • 13. IMPACT OF DM ON PERCEPTION OF COMPANY A ON VARIOUS DIMENSIONS DISGUISED CLIENT EXAMPLE 'To which extend do you agree with the following statements concerning company A?' Rating on a scale 1 to 5*; % Completely or somewhat agree (% of 4 or 5) Professional Easy to contact service DM** No media 60 Good reputation 40 Products Original customized to my 20 advertisement needs 0 Flexible payment Wide range of options insurance products Customers interviewed Products easy to within 10 days after DM Excellent value for High compensation reception level understand money * 1: I completely disagree, 2: I somewhat disagree, 3: I neither agree nor disagree, 4: I somewhat agree, 5: I completely agree ** Based on respondents in Group 1 recalling DM Source: Market research on 1167 customers; Team analysis 12
  • 14. POSITION OF COMPANY A vs. TOP COMPETITOR AFTER DM DISGUISED CLIENT EXAMPLE 'To which extend do you agree with the following statements concerning the following insurance companies?' Rating on a scale 1 to 5*; % Completely or somewhat agree (% of 4 or 5) Company A with DM** Professional Leading competitor Easy to service contact 60 Good reputation 40 Products Original customized to my 20 advertisement needs 0 Flexible payment Wide range of options insurance products Customers interviewed Products easy to within 10 days after DM Excellent value for High compensation reception level understand money * 1: I completely disagree, 2: I somewhat disagree, 3: I neither agree nor disagree, 4: I somewhat agree, 5: I completely agree ** Based on respondents in Group 1 recalling DM Source: Market research on 1167 customers; Team analysis 13
  • 15. KEY MESSAGES  The results presented in this document were obtained during a pilot in the insurance sector (for company A); pilot was run in two phases: first phase without ATL campaign, second with ATL campaign (TV, radio, press, internet)  The results of the market research show that DM is a well suited medium to support calls, as well as to build brand image. – DM increases the acceptance of calls, from 51 to 58%. This leads to a positive ROI for DM + call vs. call alone. – Moreover, due to fast decrease over time of the DM recall rate, calls should closely follow reception of DM. – DM helps to build brand image (10% increase in number of people agreeing with brand statement due to DM) – DM has a better recall rate than ATL media Source: Team analysis 14
  • 16. DM HAS A MUCH BETTER RECALL RATE THAN ATL MEDIA DISGUISED CLIENT EXAMPLE Percentage of respondents  "Do you remember having seen or heard over the past month an ad concerning company A insurance products? Where?" (x) Total sample  "Do you remember having received over the past 2 weeks a size letter concerning company A insurance products?“  “The letter / ad showed …. Do you remember it now?“ Unaided recall (no content description) Aided recall (content Media recall rate description) (1054*) DM 13 14 27 Average recall rate over the 20 days of market research; (836**) TV 7 6 13 32% recall rate in the first 10 days following DM reception (1533) Poster 5 (1533) Press 4 Aided recall not tested for these (1533) Radio 1 media (1533) Internet 0 * Customers having received DM (groups 2, 3, and 4) ** Customers interviewed after beginning of TV campaign Source: Market research on 1533 customers; Team analysis 15
  • 17. More details ? More survey results ? Contact us at 022 011 111 and ask for a DM specialist 16