LV=
Using data driven customer insight to drive marketing
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THE CHALLENGE
With little in depth knowledge of their customers characteristics, LV= were basing marketing plans on instinct, financials and opinion rather than customer insight. The challenge was to develop a greater understanding of their customers and improve campaign performance.
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THE SOLUTION
CACI data including Ocean, Fresco, Acorn and Wellbeing Acorn was used to enhance LV=’s customer records. An automated infographic profiler was then created by LV= using the enriched dataset to incorporate additional industry segmentation variables.
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THE RESULTS
After the profiler was implemented, a 154% uplift in response rates was seen in the Over 50’s Life Insurance campaign. LV= also saw their cost per case decrease by 92% against the average Over 50’s Life Insurance acquisition campaigns.
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"CACI data products including Ocean, ACORN and Fresco have enabled us to enrich our Single View Customer Database that is used for Marketing and Insight across LV=. Efficiencies and benefits of these products include improved response rates and APE but also increased knowledge of our customers, which will help us to become a truly customer centric organisation."
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Estelle Taylor
Campaign and Analysis Manager, LV=
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