Anne, Vice President Marketing, at a $100bn Super-Regional Bank.
Anne knows that Return on Marketing Investment (ROMI) is the number one indicator of success for her group. At the top of her agenda is growing the Retail Banking business through targeted acquisition, cross sale and retention of customer balances.
Anne’s team has developed a host of KPIs for marketing but none of them seem to get to the essence of the growth drivers she is responsible for. In fact the sales and retention stats she reads appear to be inflated and don’t reconcile to portfolio growth which is her primary goal.
Anne wants to measure what she manages effectively and have confidence she is optimizing the investments she is responsible for.
|Problem:||Anne’s KPIs don’t enable her to directly measure sales, cross sales and retention. She lacks confidence that the ROMI her team reports on campaigns is actually being realized, let alone being optimized.|
|Solution:||FlowTracker was implemented to enable Marketing to provide account level customer sales, cross sales and retention statistics Ann’s team can use to quantify and value new business, retention of existing business and the marginal gains or losses from cross-sales across the Retail bank.|
|Outcome:||With the new insights gained from FlowTracker information, Anne’s group is now able to allocate Marketing spend to where it generates real growth. In addition, her team’s ROMI analyses have enabled cost savings by highlighting where product substitution reduces profitability overall.|