Data-driven marketing helps Raiffeisen Bank Belgrade drive profits

Like so many countries, Serbia’s banking sector has been hit hard as negative growth has rocked the economy. While most Serbian banks have weathered the storm by chasing deposit accounts, Raiffeisen Bank Belgrade decided on an analytically driven approach to market its diverse portfolio of products. Using SAS® Customer Intelligence solutions to better target and personalize communications to its customers, Raiffeisen Bank Belgrade has achieved a 25 percent response rate on direct mail promotions, with a 14 percent conversion rate, and reduced credit card churn by 4 percent.

Raiffeisen Bank Belgrade uses SAS® Marketing Automation and SAS® Digital Marketing to design, create, test, personalize and execute effective marketing campaigns across multiple channels. The bank’s team of two analysts and three campaign managers support 2,000 customized campaigns a year.

“We don’t send the same offer to all of our customers anymore. Those ‘spray and pray’ promotions are expensive and don’t work,’’ said Dragan Mikičić, Head of the CRM department at Raiffeisen Bank Belgrade.  

Duplicate efforts are also a thing of the past. “We would send out emails for one campaign, and then the contact center would call customers for other products. It wasn’t very well coordinated,’’ added Mikičić. Now SAS Marketing Automation helps the bank easily define target segments and prioritize selection rules. 

SAS also helps Raiffeisen identify next best offer opportunities for inbound customer communications. Analytical insight helps the bank determine what an individual customer is most likely to need and deliver a personal offer in real-time. This maximizes both the customer experience and associated sales and marketing revenue attributed to that interaction.

But the real proof of success is in the metrics that the bank compiles. The CRM department is the leading sales contributor. CRM-generated leads account for 32 percent of package sales, 41 percent of personal loan sales, 36 percent of accepted credit card offers and 62 percent of overdraft protection purchases. And, Raiffeisen can effectively serve its 550,000 customers with half the number of branches maintained by its competitors, resulting in reduced operational expense for the bank.

“The channel managers are happy with our work. And we can launch a new campaign in as little as a week,’’ said Mikičić. “We couldn’t do all of this without analytics.’’

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