Scarborough Building Society ISA campaign

Our brief

To generate incremental investment in the society by promoting the Scarborough Building Society (SBS) ISA:

• Maximise investment from existing ISA customers (£3,000 per annum)
• Recruit new ISA customers from the current SBS investor customer base

Our solution

Our starting point was to interrogate the SBS ISA data base and use the findings as a starting point from which to develop the 2004 campaign.

ISA customer profiling revealed an aging profile, a fact supported by research conducted into the SBS base. The relatively low number of ISA customers is also reflected in the research where it was revealed that:

• 49% of respondents had an ISA
• But only 2% had an SBS ISA

We tested the effect of an incentive by splitting the customer base 50:50 and mailing two versions of creative.

Tracking results enabled us to:

• Determine if offering an incentive had any effect on response rates
• If the effect on response justified offering an incentive
• Which new customers on average invest the most, incentive vs. non incentive

We used the results of this campaign as a benchmark against which to measure the success of the next mailing.

Targeting

We targeted customers from the Investment customer base by profiling the ISA customer base to reveal characteristics that enabled us to select best prospects to mail.

• Profile the existing ISA base of 3,000 customers
• Profile the existing Investment base of 150,000 customers
• Using the ISA customer profiles we then selected like for like customers from the Investment base to build the prospecting mailing file

This enabled us to target customers who showed the highest propensity to take out an ISA based on a profile of the current SBS ISA file.

The results:

This campaign outperformed the previous campaign as follows:

• Response rate up from 0.83% to 1.41%
• Increase in response rate of 70%
• Incentivised mailing 2003 vs. incentivised mailing 2004: response rate up from 0.83% to 1.94%
• Increase in response rate 2003 incentivised vs. 2004 incentivised mailing of 134%
• The incentivised pack generated 54% more responses than the non-incentivised pack.

For further information please contact:

Ruth Holgate our Business Development Manager on 0113 230 4000 or email greatoutcomes@brahm.com