LV=
Using data driven customer insight to drive marketing
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.
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.
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.
"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."
Estelle Taylor
Campaign and Analysis Manager, LV=
