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Provident Case Study Final Uk
1. Provident Financial benefits from
smartFOCUS modeling services
Provident UK Home Credit is a division of Provident
Financial, a FTSE 250 company. The UK Home
Credit division has over 1.4 million customers and has
been in existence since 1880.
Background
Customer
Provident UK Home Credit set a goal at the beginning of 2005 to reduce Cequity's end-to-end suite of integrated
Provident Financial
their mailing volumes whilst maintaining their level of sales. To help services includes customer management
achieve this, smartFOCUS were commissioned to build a propensity consulting, marketing database &
model. The requirement of the propensity model was to calculate the information management solutions,
Industry Sector
probability of a customer responding to a mailing and taking out a loan analytics, metrics & dashboards and
issue that they would not have done otherwise. campaign measurement support. Our
Financial Services
state-of-the-art technology solution,
Cequity ACE is powered by smartFOCUS
Provident and smartFOCUS developed a close partnership to harness the
Solution
and is a hosted customer marketing
knowledge and experience from both companies to produce the model.
system that can be quickly implemented
Modeling
without major hardware or software
Modeling through Intelligent Marketing
investments. This helps us deliver rich yet
During the modelling project, a number of workshops were held where Solution Components
valuable, information-driven, customer
the smartFOCUS Consultant worked on site to ensure skills were experience opportunities for you.
transferred. Data Quality/Management
“From our experience, the Intelligent Analytical
Marketing from smartFOCUS makes it possible
The modelling process steps were: to instantly analyze, segment, identify and
Single Customer View
communicate with large volumes of customers
and contacts on an individual basis. Intelligent
Agree the number of campaigns to be analysed and the variables to be Analysis & Visualization
Marketing improves customer communications -
built
throughout the entire lifetime of a company-
Setup Modelling Customer database Predictive Modeling
customer relationship and makes performance
Build the analysis variables for modelling driven multi-channel marketing a reality.
Campaign Management
Exploratory Data Analysis including Customer Profiling and CHAID smartFOCUS is faster and more efficient than we
Build the models thought it would be!”
Email Marketing
The result of the modelling project was the development of four
Online Execution
CEO - Cequity Solutions
predictive models. These have since been used by Provident since mid
2005 to improve their targeting of mailing campaigns.
Performance Management
The skills and knowledge gained by the Provident team, through working
Consultancy
closely with the smartFOCUS consultant, has enabled them to develop
numerous other predictive models themselves.
Phil Berry, Head of Marketing, Provident UKHC remarked that, “We have
observed an improvement in response rates since implementing the
propensity models. We have also successfully built a number of additional
predictive models at Provident, using the smartMODELER functionality and
the knowledge gained from the original propensity modelling project”
Caroline Bastow, Customer Insight Manager, Provident UKHC said, “The
knowledge and experience we gained throughout the propensity modelling
project has enabled us to produce a number of other predictive models
using smartMODELER. This has given Provident a much greater insight into
the behaviour of customers and will lead to positive changes in the
marketing strategy to customers”
Continued overleaf
2. About smartFOCUS
smartFOCUS (LSE:STF) is a leading international marketing software company that
empowers marketers with the intelligence to drive high performance multi channel
campaigns and more valuable customer relationships. Its Intelligent Marketing solutions
integrate off-line and on-line data, analysis, campaign and performance management to
deliver better targeted more timely and relevant communications that increase campaign
conversion rates and improve customer’s insight.
smartFOCUS now has over 300 customers worldwide using its marketing software including
AAA, ABN AMRO, ATOS, Centreparcs, EMI, Fig Leaves, Harrods, Hilton International,
NSPCC, Societe Generale and QVC.
In 2006 smartFOCUS experienced revenue growth of 52% to £9M. The organisation is
headquartered in the UK, with offices in the US, continental Europe and Asia Pacific.
Contact Details
“The Provident Financial
modelling project
Note: This is an ‘original paper’ by smartFOCUS. Cequity ACE is powered by provides a template for
businesses wishing to
smartFOCUS and Cequity uses this distinguished technology to empower its end-to-end suite
introduce new advanced
of analytical marketing and customer relationship management solutions.
analysis and modelling
capabilities in a low risk
way through a structured
approach. The highly
effective partnership
approach has delivered
real tangible value.”
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