The Challenge
This specialty insurer wanted to optimize a generic retention program that was targeting past customers on a one-size-fits all basis.
How We Helped
SeQuel launched a CRM strategy that segmented past customers based on customer RFM (recency, frequency, monetary) data. The communication timing, frequency and creative was then tested to optimize the program across customer segments to triple the insurer’s annual policies. In addition to the RFM campaign, SeQuel also built a nimble weekly mailing to retarget prospects who phoned the call center to receive a quote, but did not convert. The non-converter campaign now delivers the highest ROI of the insurer’s direct mail campaigns, generating $1.9M a year in top-line revenue.
0
% increase
RFM campaign increased revenue-per-policy by 21%
0
x customer LTV
RFM campaign multiplied the customer lifetime value by 8x
0
k customers
RFM campaign produced 224,000 new multi-buyer customers
