Sainsbury’s Bank
Sainsbury’s Bank receive 750% ROI from behavioural email campaign
The Challenge
RedEye was appointed to increase conversion across a full range of products for Sainsbury’s Bank. This task was made the more difficult in the absence of direct and regular access to customer and prospect data.
The Solution
RedEye created a single customer view of customers already active on the relevant sites, followed up with behaviourally triggered email campaigns across their pet and car insurance products. Analysis of these preliminary results would serve as a benchmark for campaign performance and determine future roll out to other products.
Industry research has shown that up to 75% of shoppers abandon their online shopping baskets before completing the check out process – making conversion even more critical in the current financial market. RedEye worked with the Sainsbury’s Bank team, examining existing processes and protocol to analyse and pinpoint the most effective touch-points in a customer journey on their site. This then served as a catalyst for individually specific email deployment to encourage conversion.
Utilising activity driven triggered emails in response to saved quotes and basket abandonment, RedEye analytics enabled Sainsbury’s Bank to recognise specific online behaviours, in this case, targeting emails in response to customer engagement in definitive areas of the site. Relevant communications encouraging re-visiting of quotes or re-iterating the benefits of Sainsbury’s Bank insurance products were fundamental to developing a bespoke email strategy delivering results in terms of conversion figures, improving customer service and developing stronger customer relationships.
Industry research has revealed that up to 75 percent of shoppers abandon their online shopping baskets before completing the checkout process, a problem we have successfully overcome with RedEye through relevant, timely emails triggered by behavioural analysis. The excellent results, such as a 750% ROI from our pet insurance campaigns have encouraged us to extend our strategy to car insurance and home insurance, with the potential to roll out further in the future.
Through specific segmentation strategies, RedEye was able to develop a greater understanding of customer activity, preferences and attitudes in relation to the Sainsbury’s insurance sites. Using this information RedEye built a database comprising single customer views of actual visitors and their online activity. This was then used to develop more relevant communications and to determine campaign spend in areas where return on investment was most likely. This ability to build a single customer view from disparate data feeds emanates from a combination of web analytics and email marketing processes unique to RedEye. By gaining exclusive insight to customers across multiple processes through web analytics, Sainsbury’s Bank has, as a consequence, been able to maximise cross sell opportunities under their brand umbrella and better tailor communications in response to individual consumer requirements.
The Results
With conversion the main focus of the analysis and behavioural email marketing campaigns, Sainsbury’s Bank was delighted to record an unprecedented return on investment figure of 750% across their pet insurance promotions. Other benchmarks included 70% open rates in one “retrieve a quote” campaign and a general conversion rate of 12.8% across all campaigns. The click rate average also topped the 50% mark. This proved development of a single customer view as the basis of triggered behavioural email marketing is an invaluable tool in re-engaging with prospects currently logged into the buying process.
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