Customer reactivation campaign for Small World Financial Services.
Customer loyalty and retention are two of the prominent pillars in the international marketing strategy of Small World Financial Services. In the Netherlands this strategy has contributed to the growth of their market share in the money transfer business. Building on top of this success Small World asked Postana to create a customer reactivation campaign to win-back high valued inactive customers. We developed a Direct Mail solution that targets users based on geolocation. Sending inactive customers personalised promotions that can be redeemed in the nearest branch of Small World.
Small World Financial Services
Small World FS provides global payment and money transfer services. They help customers reach their families, friends and business overseas with money. With a mission to make a big world small, it connects a branded network of 250,000 pick up locations. It offers very competitive exchange rates and promotions. Delivers money instantly to bank accounts in more than 90 countries. And their diverse customer base is reflected in an international team of 800 people. They process worldwide over 15 million transactions each year. With their local branches all across Europe Small World Financial Services is playing a crucial role in helping people send money to their families abroad.
Customer Reactivation Campaign
The Dutch market for money transfer is highly competitive. Fuelled by the high diversity of nationalities and many expats working in the Netherlands. Maintaining a close relationship with their customers has been a key driver for Small World FS to stay ahead of the competition. Nonetheless sometimes customers start to interact less often or even become inactive.
Small World wants to reengage with these high valued customers and asked Postana for support. We developed a Direct Mail campaign to reactivate customers by sending a personalised promotion. This promotion could be redeemed by users in the nearest local branch.
Postana Geolocation Module
Small World has grown the number or store locations in the Netherlands over the past years. And many of the online customers are not aware that there may be a branch in their neighbourhood.
Using our Geolocation Module Small World Financial Services was able to target customers in an selected area around their stores. We decide to include a dynamic map in the Direct Mail campaign. Showing every customer the location of the nearest branch and the route from their home address.
Measuring Results for Small World FS
An important requirement for Small World was to be able to measure the results of this campaign. Of course we could just keep tack of the number of customers who redeemed their offer. We assumed that inactive clients would not return by themselves without receiving their personal promotion. But we wanted to make sure this assumption was correct. Therefor we created an A/B-experiment with a control group around this Direct Mail campaign. In this way we were able to measure and validate the incremental impact of the marketing promotion.
Through small changes and constant improvements we discover new insights that increase the business value of these reactivation campaigns.