Understand the Journey to Improve Effectiveness
Our client, a multinational financial services provider, wanted to increase the engagement of its cardholders and drive sales. They knew the organization would need to gain a better understanding of customer wants and needs and also improve their marketing efforts in order to do this.
The client was unsure of how to best approach this challenge and provided Phoenix MI an opportunity to propose a solution.
We conducted an online survey among known profitability segments and identified clusters within these of customers with share card-related characteristics. This insight was used in a subsequent phase to develop and test new messaging.
We also conducted focus groups among cardholders offering the greatest growth opportunity. The goal was to better understand the card journey from acquisition to various current states and assess potential messaging suggested by the quantitative results.
The client was able to test and refine messaging and go to market with reduced acquisition costs and increased marketing response.