Sales & Marketing Measurement and Optimization
IBM Predictive Customer Intelligence (PCI), Watson Analytics, Expert Storybooks
This insurance company provides consumers with competitive life, home and auto insurance policies, as well as retirement planning services. Throughout its long history, the firm has embraced the needs of a wide range of policyholders from 11 different states while delivering quality customer service.
Like many insurance companies, this firm knew there was a vast amount of meaningful insight and business value in its sales and marketing data. Unlocking that data would enable the company to more accurately assess and analyze how, when and where to invest in marketing programs, and how to prioritize sales efforts in order to maximize revenue and profit.
The insurance firm also knew that analysis is only step one towards becoming a data-driven organization. The next step was to be able to use that same data for predictive analysis. The insurer decided to work with Revelwood to design, develop and help implement a solution based on IBM’s Predictive Customer Intelligence (PCI).
Like many insurance companies, this firm had vast amounts of data. The challenge was to use IBM Predictive Analytics to manage that complexity and revolutionize its sales and marketing processes. Revelwood decided to employ several of IBM’s cognitive tools, including Watson Analytics, Expert Storybooks and PCI to serve as the foundation for the application. The solution uses data from the company’s sales database and from its agent tracking system.
Now, using the PCI application, this insurer is able to leverage more information for more strategic sales and marketing efforts. First they started using PCI for member segmentation and predictive cross-sell campaigns. Then, again using PCI, they were able to develop prioritized lead lists for its agents—for example, the insurer is analyzing data to predict which customers of life insurance are most likely to be interested in auto insurance. That data feeds the prioritized lead list, meaning that the insurance sales reps are focusing their efforts on warmer prospects, rather than just working down a “generic” customer list.
The PCI application lets this insurance company ask detailed questions of its customer and product data, such as:
- Which life insurance customers are most likely to need/be interested in/purchase auto insurance? Which auto customers would be appropriate for life insurance?
- Which marketing campaigns should be rolled out to which customer segments?
- What customers should be higher on agents’ call/target lists for specific products?
Not only has this firm reinvented the way it prioritizes its agents’ sales activities, but it has also seen improved marketing engagement, larger share of the customer wallet, and incremental sales. Before deploying predictive analytics, this firm’s sales reps would have an average 12% success rate off of any random list of client leads. Today, agents working with the prioritized lead lists are seeing an average 45% success rate or sales. As a result, the firm has realized a significant increase in new policies, without any increase in sales staff.
With the IBM predictive analytics-based sales and marketing application, this insurance company is able to prioritize lead lists, resulting in an average 45% success rate for sales. Read More
Using IBM PCI, this B2B retailer can increase incremental sales by optimizing the advertisements it serves up to specific customers in its predictive digital marketing platform Read More
Travel & Transportation (Airline)
With an operational analytics solution in TM1, the airline is better able to identify problem areas in its operations and can understand, react to and plan for trends based on a number of variables. Read More
Media & Entertainment
Using an "ultimates" module in TM1, this entertainment company can capture the expected revenue and costs of film and TV titles and project the overall lifetime value. Read More
Real Estate Investment Trust
A TM1-based capacity planning and lease analysis solution enables this real estate company to analyze granular information by tenant, by lease and by building. Read More
Oil & Gas
Using an operational forecasting and capacity planning solution in TM1, this oil and gas company has much better visibility into its operations by pipeline, by movement and by customer. Read More
As a result of a TM1-based volume planning, demand planning and capacity planning solution, this roofer knows which plants are under-performing or over-performing and how to optimize production. Read More
Food & Beverage
With a TM1-based demand and sales planning system, this brewer can now make strategic decisions on where to invest marketing and sales support by wholesaler. Read More
With a TM1-based volume planning solution, this beverage manufacturer can now anticipate demand based on previous sales volume in many different ways. Read More
With IBM Cognos TM1, this financial services firm can more easily keep track of its clients and its assets under management to better understand how different aspects of its services are performing. Read More
Using IBM Cognos TM1, this global publisher relies on a technical planning model to perform granular, top-down planning, such as by individual subject categories and product types. Read More
With a TM1-based demand planning application, this professional services firm can analyze demand by role, project, geography and status. Read More
Since deploying an incentive compensation solution in TM1, the hotel has seen significant process efficiencies, a reduction in calculation and payout errors and improved visibility for advanced analytics. Read More
With Revelwood Lightspeed and IBM Cognos TM1 on Cloud, this investment bank extended its key financial planning and reporting information to more decision makers throughout its organization. Read More