Increase Retail Sales
A strategic decision was made by the management of a major insurance company to promote prospect sales to local agents rather than driving them to call the company’s inbound call centers directly. The team acknowledged that a seamless multi-channel strategy was critical but that in-person contacts were more likely to result in sales and worth more to the company over an extended period of time.
The company had recently run a direct mail campaign to two million prospects encouraging them to contact the company’s call center directly. In addition to generating sales in the call center, a significant number of sales from this campaign were made by agents. Reach Analytics was employed to help transition the marketing effort with the objective to increase sales to the local agents.
Reach Analytics started by looking at the people who purchased through a local agent after receiving the company’s mailing. Reach appended this group with thousands of attributes from four national demographic databases. The data helped to complete the profile of a prospect that would indicate a retail-buyer. A response model was built and used to score the entire prospect list to identify the prospects most likely to buy from an agent.
The next mailing was targeted and sent to only the top 30% of prospects ranked by the new response model. Reach’s modeling and targeting solution succeeded at producing the company’s desired return on investment (ROI):
- Generating a 450% increase in agent sales over the random mailing
- National roll out of the program