How Statement Integrated Marketing techniques significantly increased response rate and reduced costs with right time, right channel and right product offers.
After several remails to policyholders, a large US insurance company’s direct mail campaigns were becoming more expensive and less profitable.
Achieving little success with a range of performance improvement techniques, the insurance company asked ReMark to assess the programme and deliver an innovative, cost-conscious solution designed to effectively target customers with a relevant, timely and personal offer.
A new Statement Marketing campaign added a brief but carefully structured product offer to the monthly billing statement
ReMark worked closely with the company to reassess its channel strategy for this database. Our suggested solution was a new Statement Marketing campaign that added a brief but carefully structured product offer to the monthly billing statement.
Based on the initial success, ReMark worked with the client to develop and implement this approach for a range of products.
This revised campaign generated response rates of over 10% while lowering marketing costs. Additional premium grew from Zero to USD10 million in just three years.
Well-targeted offers to customers already prepared to pay their monthly bill can pay off.