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SUCCESS STORY

How to maximise ROI through data analysis in addition to CRM and marketing automation?

Data studies help to expand the customer segmentation, allowing a strong CRM customization and maximize the relevance of messages.

The challenge


Cash in time is an online innovative factoring solution founded in 2017 by Crédit Agricole Leasing & Factoring. The concept is simple: a professional can transfer a customer invoice online to get a payment within 24 hours. In just a few minutes, he or she registers to the platform to submit the invoice and check whether it can be financed by Cash in Time. If it is the case, the total is paid within 24 hours to the account.

As Cash in Time is a non-binding offer, loyalty is a major issue for the viability of the business model for Crédit Agricole Group.

Convinced that a personalised loyalty programme will reduce the attrition rate, Cash in Time called on Numberly to study the data that has been collected (nominative and behavioural). The challenge was to determine the key moments in the life cycle and to carry out a segmentation of customers, according to their sector of activity for example, and to establish targeting recommendations.

The solution

About the moments of life

The data teams have identified 4 phases to be leveraged through the customer lifecycle:

  1. Registration
  2. Activation
  3. Retention
  4. Attrition

High ROI analysis

Linked to retention:

After studying the prospect and customer database, it was concluded that it was difficult to build customer loyalty if a customer did not use the Cash in Time service a second time within 11 days of the first invoice transfer. Therefore, it became important to concentrate the marketing automation operations during this period of time so that Cash in Time could make the most of it to gain loyalty of the customer.

 

Linked to the personalization of the customer’s needs:

The data analysts observed that the size and sector of the company had an impact on the frequency of sales. On the basis of this observation, a segmentation was created so that customers could be contacted in a personalised way according to their customer types: occasional customers, recurring loyal customers, new funded customers, etc. This approach is therefore profitable because customer satisfaction is higher and this leads to an increase in disposals.

 

Linked to the understanding of attrition:

After studying the database, two customer profiles clearly emerged: registrants who have never made a sale, and those who no longer use the service. Based on this observation, it was imperative to set up scenarios adapted on these two segments. The aim was either to get the customer to come back or to understand the reasons why he/she no longer uses Cash in Time.

 

Marketing Automation Timeline of Cash in Time:

The results

6 months after the implementation of the marketing automation campaigns, Cash in Time observed a significant incremental turnover and a reduction of the time between sales by 2 days.

In addition, the automated campaigns, by adapting to the needs of different types of customers, have led to a great improvement in the customer experience. This input represents 23% of the Cash in time turnover over the year.

After this strategic reflection on the relevance of its Marketing Automation, Cash in time readjusted its campaigns and personalized messages by leveraging the segmentation of its prospects and customers. These changes were implemented within 6 months.

Key figures

23 %

of the year's revenue is attributed to the personalization of CRM communications

2

days of reduced intercession time generated by Marketing Automation

x 3

revenue generated following the implementation of the CRM lifecycle

To support the retention strategy that is at the heart of our marketing challenges, it was essential for us to get to know our customers better, of very heterogeneous size and sectors of activity. Numberly's data study enabled us to better understand and analyse our customers' behaviour in order to provide them with an appropriate response. Each client is unique... but has similar characteristics to others. The data mix and marketing automation enable us to answer this specific issue: based on a global retention strategy, we have responded to a customer's individual need at a given moment in time. This is the strength of this system.

Raphaël Dewan, Head of E-Marketing at Crédit Agricole