RBS: Improving Response Rates by 25%

Royal Bank of Scotland (RBS) works hard to attract and retain profitable customers in this hypercompetitive market. To build a strong base of retail accounts, the bank must effectively design, execute, and measure personalized marketing programs. In addition to targeting new clients and enhancing cross-sell opportunities, RBS needed to improve customer loyalty and drive additional revenue from existing customers.

RBS’s new customer charter focused on making banking easy, listening to the customer and helping them when needed. The bank required a multi-stage approach to achieve its goals. First, RBS wanted to simplify their operations by improving the agility, accuracy, and success of overall marketing programs — from direct mail pieces, emails and other outbound marketing materials. Second, they wanted to leverage intelligent analytics and decision management to make customer interactions more personal and profitable across all channels.

RBS recognized that existing customer data was extremely important. However, they needed a unified solution that could take that existing data, and move it between channels using the context of the channel to maximize its relevancy. Pega’s marketing solution allowed RBS to create, manage, and report on highly targeted marketing campaigns for up to 14 million contacts per year. Event-triggered capabilities of Pega also allow targeted campaigns from 1,000 contacts down to a handful that could be actionably engaged. Looking to expand the scope and functionality of their marketing programs with intelligent personalization of real-time communications, RBS leveraged adaptive analytics to personalize as many as eight different treatments for every customer on their website. Pega’s adaptive learning capabilities gave RBS a centralized decision engine to quickly adjust campaigns and offers on the fly, further improving effectiveness.

Finally, RBS developed the Personal Annual Statement which is a personalized color booklet providing a summary of the key details of a customer’s core product holdings. Alongside each graph/table is a personalized Next-Best-Action message – there are up to 20 per booklet. Each message is personalized and targeted based on the customer’s behavior with the bank to ensure relevance.