(As seen at the IAPA National conference)
Pitney Bowes Software is an IAPA affiliate sponsor
RACQ, a brand we are all familiar with, was faced with massive change in their industry taking them from the unique position of having a monopoly to a highly competitive environment with new competitors entering the market and technological advances changing the game.
Being a household name wasn’t enough, RACQ realised they needed to differentiate by investing in creating an excellent member experience. The goal was to deepen member relationships, gain further insight into interaction history and improve cross-selling, thereby increasing campaign conversion rates. Through the deployment of Pitney Bowes Customer Analytics Solutions RACQ achieved conversion rates on campaigns of up to 38%.
Firstly, they established a single customer view to allow them to enhance relationships with members and secondly, installed a customer analytics solution to help serve them better. Implementing a relationship management system enabled a single customer view with access to information for strategic decision making available to all departments.
Focusing on the inbound channel, combining predictive analytics with RACQ business rules to arbitrate the “best-next-action” ensured the right offer was presented to the right member at the right time. The solution evaluates offers in real-time based upon the progress and context of the current interaction as well as interaction history. Customer advisers are supplied with information and prompts within their CRM environment to enable them to confidently engage the member and add value to the interaction. Results from inbound campaigns are fed back into the propensity model to improve the model accuracy over time.
The Pitney Bowes solution has enabled RACQ to: