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Navy Federal Credit Union is using predictive analytics to study customer survey results, sentiment, and gauge satisfaction. They realized a 1,531% ROI in two months, saving over $1.5 M per year.
The company applied its survey insight across strategic business units to grow from $24.8 B in assets to $40 B in just six years. "We are able to identify and anticipate member needs, analyze trends and provide a variety of member profiles to our business units that develop product and service offerings ..." Alan Payne, Manager Member Research Navy Federal Credit Union Source: SPSS Inc., an IBM Company So what is standing in your way?
Maybe it's the price tag? Nucleus Research estimated the cost to be in the $100,000's. Lesser systems are also costly and still need an expert to get things right. How to get these results without incurring these large costs? Is there a cheaper way …..CRS offers analytics services at a fraction of the cost … hosted or expert driven access! Source:Nucleus_Research-ROI_From_SPSS Nu Skin is using predictive analytics to develop highly effective churn propensity models that helped reduce customer churn by 40%.
With these models, the company was able to successfully re-engage the customer with life-stage and event-based marketing activities months before they might defect. Nu Skin realized that by keeping their most valuable customers from churning, they could grow even further and still protect the bottom line. Alex Soria, Marketing Analyst Nu Skin International Source: SPSS Inc., an IBM Company Is it worth it for your organization?
Maybe, but the first step may be too big for most of you to find out … CRS has a low cost way to find out … incremental pricing and no fixed commitment! What is the value to you? If there was only a way to know … CRS provides ROI estimates in the investigative stage! What about smaller organizations or company departments? You need the help but you can't afford it … CRS can do data sampling and use our pre-built models to get the job done inexpensively! First Tennessee Bank is using customer behavior-based segmentation to increase the effectiveness of its marketing programs.
Using propensity models, the bank identified its highest performing customer segments and built monthly marketing campaigns around them. The bank has seen over a 600% increase in the overall ROI of its direct response campaigns. Tanner Mueller, Marketing Strategy & Innovation First Tennessee Bank Source: SPSS Inc., an IBM Company Are these case studies the norm?
Survey of 16 SPSS customers, "94% achieve a positive ROI and Payback in 10.7 months" per Nucleus Research. What about those who choose not to go public for fear of calling attention to themselves? Can you achieve these kinds of returns? Yes… CRS can discuss ways during a free phone consultation or investigate opportunities as part of paid study! Source:Nucleus_Research-ROI_From_SPSS |
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