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RSA Case Study UK


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More Than’s Journey to Individualisation
How One Insurance Provider Increased Email Open Rates By Almost 10%

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RSA Case Study UK

  1. 1. More Than’s Journey to Individualisation How One Insurance Provider Increased Email Open Rates By Almost 10%
  2. 2. marketing.teradata.com2 With a 300 year heritage, More Than, a brand within the RSA Insurance family, is one of the world’s leading multinational insurance agencies. Touting major operations in more than 140 countries around the world, More Than has made it a priority to meet the needs of its 1.3 million customers by offering best-in- class car, home, pet and travel insurance. In an effort to build lasting customer relationships, More Than utilises Teradata Digital Marketing Center to leverage individualised insights and to deliver tailored messages to the right customer, at the right time, on the right digital device. Heightened Customer Expectations For more than a decade, More Than relied on email communications to keep their customers informed and connected. However, in recent years, changes to More Than’s business model and company infrastructure led to customer communications falling behind other priorities. In an industry with increasing competition and heightened customer expectations, More Than needed to develop meaningful, lasting customer relationships or risk detrimental customer attrition. As part of a wider company initiative to understand and deliver upon customer needs, More Than’s Customer Marketing Team sought to build a new communications and newsletter strategy. The initiative focused on three main objectives: 1. Improve content and design More Than’s email engagement rates were strong in the insurance sector with average open rates of 18% and click-through-rates of 4.19%. However, the insurance group knew there was room for improvement with the ability to deliver more individualised, relevant communications to more tightly constructed segments. 2. Widen scope of communications With a newsletter format that was generic and inflexible, it was impossible for More Than to highlight key messages or personalise the content. Furthermore, every newsletter presented the same basic information with little variation on subject matter. More Than knew there were many other untapped opportunities for engagement. Specifically, the company sought to promote additional products, drive online renewals, and inform customers about new service offerings. 3. Understand marketing performance More Than had no way of communicating marketing performance to key internal and external stakeholders. The isurer required advanced data analysis that could be shared across the entire organization in order to leverage marketing strengths and realign initiatives that weren’t producing results. With the need for robust digital capabilities in order to turn marketing needs into reality, More Than turned to Teradata Digital Marketing Center. The all-in-one digital marketing system allowed More Than to leverage individualised insights to connect with customers on a personal level. Powered by Teradata Digital Marketing Center, More Than was able to generate an internal analysis of its newsletter performance.
  3. 3. The Individualised Experience More Than’s first goal upon implementing Digital Marketing Center was to develop a content plan across the marketing organisation utilising customer insights. With the solution, the Customer Marketing Team gained real-time access to customer lifecycle and behavioural data which allowed More Than to identify common themes, life events, and trends. Utilising newly gained customer information, More Than and Teradata’s Campaign Management Team of highly qualified digital marketing experts built a content strategy that took into account seasonal initiatives, trends in the industry, customer events, and key business differentiators. In order to transform More Than’s generic newsletter into an eye-catching communication, Teradata’s Creative Services Team created an updated newsletter template within Digital Marketing Center. The digital services team ensured the design and format of the template was in-line with industry best practices and More Than branding. The template supported a multitude of content types and topic areas so that More Than could promote varying subject matter month by month. This functionality proved to be especially helpful when More Than released a new travel product and was able to support the launch through newsletter promotions. To encourage customer engagement, Teradata added individualised elements, such as links to customer account information and reminders about upcoming renewals. Furthermore, the content within the newsletter was dynamic, enabling More Than to select content based on the customer’s product holdings. For instance, if the customer owned pet insurance, the newsletter was focused on that specific product line with added individualisation depending on the type of animal owned. Powered by Digital Marketing Center, More Than easily adapted newsletter creative from month to month and gained the ability to make in-flight campaign adjustments. With this functionality, More Than regularly evaluated campaign effectiveness, taking into account everything from content length to email subject lines in order to ensure maximum impact. In order to understand the newsletter’s effectiveness, the insurance group relied on Digital Marketing Center’s reporting functionality and Teradata’s Campaign Management Team expertise, to produce a monthly analysis of customer engagement. The report gave details on key performance metrics including delivery rates, open rates, and click-through rates. Furthermore, the report included significant findings in regards to which pieces of content were clicked on by specific customers and the total volume of clicks by content type. When necessary, the Campaign Management Team was able to dig deeper into the data if more detailed analysis was required. In order to share marketing’s success across the organisation, Teradata’s report was used to develop a top line summary of newsletter performance which was sent to key internal and external stakeholders. marketing.teradata.com3
  4. 4. 10000 Innovation Drive, Dayton, OH 45342 “We power marketing.” is a trademark, and Teradata and the Teradata logo are registered trademarks of Teradata Corporation and/or its affiliates in the U.S. and worldwide. Teradata continually improves products as new technologies and components become available. Teradata, therefore, reserves the right to change specifications without prior notice. All features, functions, and operations described herein may not be marketed in all parts of the world. Consult your Teradata representative or Marketing. for more information. Copyright © 2015 by Teradata Corporation     All Rights Reserved.     Produced in U.S.A. 7.15 EB-9149 Measurable Marketing Success With the help of Teradata’s Digital Marketing Center and Teradata’s digital experts, More Than was able to develop and implement a solid digital marketing strategy, with ongoing analysis and optimisation. Powered by Teradata’s advanced functionality, More Than gained the ability to be more agile and responsive to the needs of customers. Being able to quickly and easily adapt newsletter content gave More Than the benefit of individualised customer interactions with increased relevance. Within the first year of implementation, More Than’s newsletter open rates increased from 18% to 27% while click-through rates increased from 3.73% to 7.37% in one record-setting campaign. Furthermore, with the ability to promote various product offerings within the newsletter, cross-sell opportunities increased twofold. The monthly reports generated by Teradata’s Campaign Management Team, with the help of Digital Marketing Center, gave More Than’s newsletter a higher profile within the company. Executives and key stakeholders became increasingly engaged with the initiative and finally understood its immense value. Ultimately, Teradata Digital Marketing Center and the support of Teradata’s digital experts gave More Than the benefit of individualised insights so the insurance group could provide a tailored experience for every customer, enabling the company to build upon 300 years of successful marketing. Power your marketing with the Teradata Integrated Marketing Cloud. Make one-to-one customer connections easily from a single solution and know more about your marketing, your customers, and your business. To learn more about how Teradata’s Digital Marketing solution can power your marketing, visit Teradata gave More Than the capability to see intricate analytical campaign details including bounce rates, delivery rates, and click-through rates.