Credit cards and banking packages have a wide range of uses. However, customers often opt for these products on the basis of just one feature. As a result, they are only used one-dimensionally. Many features or additional services go unnoticed by the customer. The reason for this limited use is often a lack of awareness of the product’s complete scope of services.
Automated welcome cycle, which present the various features to the customer via e-mail in several steps, have proven to be a very efficient means. This makes it possible to build up a high level of loyalty to the product in a short time, during the first phase of the customer lifecycle. Already when the application is approved or at the latest when the product is delivered, the customer receives the first e-mail. He is welcomed and familiarized with the basic features of the product. At intervals of one to two weeks, two to four further e-mails follow, depending on the scope of services and the complexity of the product. These introduce the customer to the various features and additional services, such as contactless payment, the rewards program, insurance services or associated online platforms. It is important that the amount of information per e-mail is limited. The topics are only briefly touched on, visualized with an image and linked to further information on the website.
The emails are supplemented by transaction-triggered mailings, which are sent after specific actions by the customer, e.g. after the first transaction, the first login to an online platform, etc. The emails are then sent to the customer’s email address. Prioritization of individual emails and defined “rest periods” after a mailing has been sent ensure that customers are not written to at too high a cadence. For example, transaction-driven emails are treated with a higher priority than those with fixed deadlines. The result is clear and encouraging: the directly measurable performance figures are far above those of campaign-driven mailings. Open rates (unique open rate) range from 69% to 82%, click-through rates (unique click-through rate) range from 25% to 42%. Transaction-driven emails with a direct call-to-action clearly swing to the top here. Further analyses have shown that targeted “onboarding” also has the desired lasting effect. The product is used more frequently and more likely to be used in its full scope of services by customers who have received the welcome cycle. As a result, sales are measurably higher. The proportion of occasional users is also lower. Since the latter have a higher churn rate (switching to the competition), this also strengthens the customer base in the long term.
Mayoris has supported the client in the present projects along the entire value chain. Beginning with the conception of the welcome cycle on the technical as well as content level. Then with the definition of the dispatch logic and the required data. Finally, with the implementation, based on the template developed for the respective customer. The operation takes place on artegic ELAINE, in each case on dedicated, specially secured servers.
- Measurable increase in sales
- Long-term strengthening of the customer base
- Better performance of emails