Real-time intelligence for happier customers
A Nordic financial services company created a cutting-edge data-driven marketing capability with machine learning to elevate the customer experience.
Today, intelligent data-driven marketing is a core component of effective customer experience strategies.
By pulling insights from millions of customer interactions and using machine learning and artificial intelligence to make ongoing and accurate predictions about consumer needs, desires, and behaviors, a business can acquire the ability to craft more engaging customer experiences. But for one leading Nordic financial group, turning this kind of AI marketing from theory into practice was proving a challenge. They lacked a deep understanding of the use cases that would generate real business value. They were underleveraging their data and missing the machine learning and advanced analytics capabilities to mobilize that data into real insights. They didn’t have a robust platform that could deliver those insights at scale. The impact? Marketing opportunities and new revenues were being left on the table.
We partnered with the company to help them create a leading-edge, end-to-end, insight-driven marketing capability.
We first identified the highest-value use cases, then created data science “pods” staffed by machine learning experts aligned to specific lines of business. This exposed the company’s data needs on an enterprise scale. To meet those needs, we helped them create a new data lake, including capabilities for extraction, transformation, loading and management on the Hadoop Big Data platform. With this vast data lake in place, we securely constructed a 360-degree view of each customer and applied a series of over 35 machine learning models to drive digital bank marketing analytics across a whole range of dimensions. Finally, we helped the company develop new capabilities in campaign design, implementation and measurement to ensure that none of their new AI-driven insights would go to waste.
Thanks to the campaign insights and recommendations derived from cutting-edge machine learning models, this company’s marketers have achieved something special—they’re more connected to their customers and have increased the number of interactions.
They’re now simultaneously delivering over 150 million customer experiences over five different channels across more than 120 campaigns. And they’ve done it seamlessly thanks to a blend of human and machine capabilities, which has enabled them to automatically tailor marketing offers and messages to individual needs. The result? Nearly five million positive customer responses, a boost in response rate of over 150 percent, and more than €15 million in annual incremental revenue. That’s marketing with intelligence.
Boosted response rates by over 150%.
Drove €15 million in incremental revenue.