Credit Card Balance Transfer campaigns
Balance Transfer campaigns are a key component of any Credit Card CRM programme. Done well, with a rigorous, integrated approach to data mining and predictive modelling, they will grow balances and build customer relationships.
20:20 Dialogue has developed a creative, holistic and lateral approach to optimising Balance Transfer campaigns, covering contact strategy, pricing and risk management to drive return on investment.
The foundation for all these improvements is the accuracy of the statistical models which predict:
- Likelihood of existing customers to respond to a Balance Transfer offer
- Projected Balance Transfer amount for existing customers
- Behaviours of new customers – to bring the Front Book into the Balance Transfer universe
- Behaviours of higher risk customers - to bring higher propensity to default customers into the Balance Transfer universe
Our expert data analysts have extensive credit card experience across brands such as egg, Barclaycard, RBS and Thomas Cook Financial Services. We are ideally placed to help you review your existing Balance Transfer segmentation, campaign targeting, predictive models and contact strategy to identify improvements in terms of Effectiveness (the performance of Balance Transfer campaigns) and Efficiency (the resources required to build & maintain models and support campaigns).
Results:
20:20 Dialogue’s BT campaign optimisation for a major UK High Street bank delivered impressive returns:
- Over £10 incremental income for every £1 of analysis spend
- Campaign response rates improved by 5% (with mailing universe maintained)
- Campaign universe extended by over 200,000 customers per annum
- Campaign costs and delivery lead times reduced by over 10%