US credit card issuer implements cutting edge Marketing Measurement and Analytics solutions to identify consumer trends and enhances campaign effectiveness to drive brand awareness and usage.

The Company

The company is a major credit card issuer and payment services company with one of the most recognized brands in U.S. financial services. Since its inception, the company has become one of the largest card issuers in the United States. The company offers credit cards, offers personal and student loans, online savings accounts, certificates of deposit and money market accounts.

The Challenge

Several years ago, the company engaged multiple analysts to track and understand the impact of marketing campaigns on business growth. This required significant time and effort as well as IT involvement, which made it an onerous process to track campaign results on time. Meanwhile, requests for new campaigns, new analyses (by segments, by test Vs Control, by incentive offers) and new metrics (incremental lift, incremental sales) kept adding complexity that needed to be addressed quickly. This prompted the company to begin search for a solution to resolve escalating challenges.

Ultimately, said the director of analytics, we were looking for a more advanced and customized campaign analytics system that would make our marketing teams increasingly self reliant and provide us with timely information to adapt to consumer behavior trends. The marketing team realized the need to become more sophisticated with campaign analytics to remain at the forefront by launching relevant campaigns via various channels.

The solution

After a competitive selection process, the company chose ServAnalytics experts as consultants due the strength of their domain expertise and credibility in the campaign analytics and measurement space. Implementation was seamless, timely and cost effective. Today, the company uses the same system to analyze campaigns launched via new channels.

Some of the features implemented by ServAnalytics include:

• A cutting three dimensional data model to track marketing metrics.

This revolutionary data model incorporates 3 dimensions of campaign reporting.

Time

Metrics

Control vs. Test populations and variations such as Champion/Challenger.

The 3-D model analyzes these 3 dimensions to track lifts, incremental sales and other metrics to track campaign effectiveness.

• A reporting Engine –The 3-D data model is fed into the reporting engine that produces reports in a timely, consistent format. This output can be feed into other applications with ease.

• A central repository – Ensures centralized access to latest reports as soon as they are produced. The repository enables new User Interfaces to be developed and customized with minimal training.

• User Interfaces – Elegant and intuitive interfaces allow users to access the reports without reliance on internal communication about the availability of latest reports.

The Results

The biggest benefit has been the ability to understand the impact of marketing activities on sales revenue. “Previously, we didn’t have the right information to do a proper and timely analysis of the impact of our campaigns,” the director of analytics said. “Now we have the ability to look backwards from a sales opportunity and see which initiatives had the greatest effect. Being able to tie revenue back to the campaign justifies our investment.

The Company’s experience confirms that timely, consistent, and reliable campaign performance measurement is relevant when it comes to driving business growth. This approach is clearly resonating with our client base, as they see significant increase in ROI.

Finally, The Company met its goal of gaining deeper insights into consumer preferences through various segment analytics implemented with ServAnalytics’ systems. It has successfully used these insights to launch new marketing campaigns to increase brand awareness and usage. The Company also shares these insights internally with their customer service, marketing and product teams to shape product direction.

For more details, visit www.servanalytics.com.