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The bank, among the largest in Indonesia, is one of the nation’s most reputable institutions.
The bank enjoyed steady growth, having doubled its assets in five years. To continue on its growth trajectory, the bank realized it needed a greater understanding of its customers.
The institution sought professional assistance to extract insight from its customer base and apply predictive analytics to execute well-targeted marketing campaigns. The bank engaged Accenture Analytics for help.
Focusing on the top 20 percent of customers perceived to be the most valuable, Accenture developed insight-driven campaigns to improve returns with well-targeted marketing investments.
Accessing data the bank possessed, Accenture consolidated information to create a Customer Analytics Record (CAR), which served as the dataset for segmentation and analysis. The project team used the clustering technique—along multiple dimensions such as value/behavior and life stage—to segment customers for well-targeted marketing campaigns.
At a high level, Accenture computed profitability and potential wallet share for each customer. The project team subsequently identified cross-selling opportunities in each of the customer segments, and developed propensity-to-buy predictive models for products such as insurance and car loans.
Although many analytics projects may take up to two years to deliver results, the client realized results within seven months through the initial two campaigns. The marketing lift (i.e. campaign improvement over the bank’s typical approach) was 181 percent for the assurance product being offered, and 75 percent for the auto loan product.
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