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Doubling sales through data

Indonesia, January 18, 2016

PT. Aegon Marketing Services Indonesia (AMSI), part of Aegon Direct and Affinity Marketing Services (ADAMS), has applied ‘customer insight’ to double a client’s telemarketing sales.

Telemarketer on the phoneThe customer, a well-known bank in Indonesia, had been using outbound telemarketing to cross-sell personal accident and hospital cash insurance to its credit card base of around 1.8 million members. However, the bank's campaign performance was deteriorating due to lack of customer targeting and repeat calling.

Propensity-to-purchase model

Using ADAMS' customer analytics, AMSI consultants assisted the bank to devise a 'propensity-to-purchase' model for each insurance product. This was used to identify prospects who were more likely to purchase insurance over the phone. Customer characteristics used for the model included customer demographics and credit card transaction behavior. The models were verified using a structured pilot program.

The increase in premiums for the first three months was US$1.2m. Compared to the control group, this equated to more than double the sales.

 

After the first three months, based on the model, the bank's sales per lead increased by between 49% to 313% (measured per month). The increase in premiums for the first three months was US$1.2m. Compared to the control group, this equated to more than double the sales.

As is often the case, the bank's data policy did not permit its credit card customer data to be sent outside of the bank due to customer security. The AMSI team therefore adopted a collaboration framework that allowed it to provide advice on the model development and campaign execution, in accordance with the bank's policy.



About ADAMS

ADAMS is the direct marketing arm of the Aegon Group (Aegon) in the Asia Pacific region. The ADAMS business has operated as an independent direct marketing and consultancy service provider across Asia Pacific since 1998, and now has offices in Australia, Hong Kong, Indonesia, Japan and Thailand.

Specializing in the design and sales distribution of protection products, ADAMS can provide a full direct insurance solution for your customers; from consulting solutions, innovative product design, customer analytics insights with actionable models, marketing campaign design and multi-channel product distribution all the way through to policy administration and claims management.