Dm2008 Banking

  • 160 views
Uploaded on

 

  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
160
On Slideshare
0
From Embeds
0
Number of Embeds
1

Actions

Shares
Downloads
5
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 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