This case is showing how a bank benefit from a implementation of Marketing Automation:
A major bank in Sweden.
The sales director was looking for options to make his sales department more efficient and grow revenue in a growing competitive market. Sales was driven by:
- Tele marketing
- Comparison sites
A promotional letter followed by a phone-call that was supposed to lead to a meeting mainly drove the sales. The bank had to increase their share of market and sales.
Letters are hard to measure. How many read them? There is none existing action on them and the sales staff was calling blind to all recipients. The sales staff was loosing energy on negative not sales-ready prospects. Big sales teams with a high competence are expensive to maintain. The spending on Google was about 12 000 €/month. We had to do something to increase revenue and engage the competent sales team.
We implemented a Market Automation (MA) strategy providing the sales team with qualified leads. We improved the website and added some call to actions e.g. clear buttons, a contact form and a white paper.
The sales team is now getting more qualified leads and is able to prioritize their leads by aggregated interest. The leads are measured by the marketing automation tool. The prospects are getting educated by nurturing e-mail and contacted by phone when they are ready to buy. The sales team is now signing more customers with less effort in less time. Above all they enjoy their work much more. The department has gained more business on their existing marketing efforts than ever before through the data gained from the market automation efforts.
Create similar market automation programs for the bank’s remaining business areas.