Direct Mail Expertise X Advanced Analytics

EXL’s client, a leading insurance, annuity, and employee benefits provider, needed to diversify its sales approach. Most of its policies were sold by agents – an effective strategy, but a costly one. The company decided to explore using direct mail as a sales channel.

Direct mail campaigns succeed based on their ability to target the right prospects and measure their results. EXL was chosen to assist the client in these key areas based on its analytics expertise.

Context

Targeting the right people required gaining a comprehensive 360 degree view of the different prospects for each campaign. To accomplish this, EXL used customer data provided by the client, its own internal proprietary databases, and third-party data from credit bureaus and other sources to predict a prospect’s propensity for responding the client’s offer..

By analyzing this data using advanced models, EXL was able to predict which message would resonate the best with different demographics, response rates, and overall campaign performance.

Orchestration

The results of different campaigns were communicated to the client using advanced data visualization programs. This made it easy to gain insight into which population segments were most receptive to different marketing messages, make targeting adjustments as needed, and track performance.

Outcomes

These analytics and data science interventions helped make direct mail a viable sales channel for the client. The client has gained greater insight into its direct mail campaigns, leading to millions in new premiums written.

Summary

Context

  • Client needed to improve its direct mail campaign performance
  • Leveraged data provided by client, proprietary internal databases, and third-party data to gain a comprehensive view of prospects
  • Analyzed data to determine targeting using various predictive models based on these data sets

Orchestration

  • Provided weekly reports using data visualization tools on campaign performance and other areas

Outcomes

  • Millions of dollars in new premiums written
  • Greater insight into direct mail campaign performance
  • Turned direct mail into viable sales channel

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