MoneySuperMarket helps more people stay in control of their finances with Salesforce
From credit scores to how much we really paid for that new jumper, our finances still remain a closely-guarded secret. So how can we ensure we get a good deal from current providers? With MoneySuperMarket, a new generation of clued-up consumers are getting the inside track on saving money and staying in control of their finances.
“We want to help people make big savings with very little effort,” said Robert Gill, Head of Group CRM & Loyalty. “We’re reinventing how our customers can take control of their finances – whether it’s product comparison, credit scoring, remortaging or reassurance, it’s all about developing new tools and services to help them to ‘Get Money Calm’.”
Reinventing the customer journey with greater personalisation
MoneySuperMarket offers price comparison services across a range of products, including car and home insurance, mortgages, energy, credit cards, and loans. Thirteen million people use its services each year.
In 2017, MoneySuperMarket launched its Reinvent strategy, which was designed to improve the customer experience as well as unlock growth in new markets. “A fundamental part of our Reinvent strategy was personalisation ” said Gill. “We want to expand beyond core price comparison and offer new services that help customers stay in control by monitoring and managing their bills. Sending out high volumes of transactional emails isn’t an effective way to promote that shift.”
With Salesforce, MoneySuperMarket’s marketing communications to existing customers are now fully personalised. Despite sending 297 million fewer emails, click-through rates have soared by 20% in the space of two years.
“Our goal is to deliver a proactive, painless and personalised service,” said Gill. “Customers don’t have much time, so they’re increasingly looking to companies like us to use their data intelligently to help them find answers quickly and seamlessly.”
Automation contributes to 20% increase in operational efficiency
MoneySuperMarket already had a wealth of data on its customers. With Marketing Cloud, it can put this data to good use and create more tailored campaigns and communications that drive greater engagement with customers.
To support its personalisation efforts, MoneySuperMarket needs to ensure data silos are a thing of the past. “Data feeds into every area of our marketing activities – from our core CRM to our social media campaigns, as well as Google AdWords for our performance marketing,” said Gill. “A single repository of customer data also helps us drive efficiency across the organisation.”
In just two years, the company has improved operational efficiency by 20%. “Having processes that work at scale is crucial. With Salesforce, we can adopt more marketing automation to free up the team to focus on other, more complex initiatives,” commented Gill.
Building relationships that last with smarter use of data
The next step for MoneySuperMarket is to establish automated triggers based on different customer touchpoints, to create more personalised and integrated journeys across multiple channels. “We want to have meaningful and natural conversations with customers,” explained Gill. “We don’t want simply to sell products; we want to provide ongoing value.”
It has already used Journey Builder to help manage complex testing to help analyze customer language and segment people into different groups based on their confidence in financial matters. The marketing team was then able to tailor campaign content to achieve maximum relevance and impact.
“We’ve got a really strong in-house team of data scientists,” said Gill. “With Einstein and AI, we can super-charge our existing capabilities and react faster.”
The team is looking at enriching its marketing capabilities further through the use of Datorama and Salesforce CDP. “With Salesforce, we can evaluate how campaigns are performing across different channels and track which topics are trending with customers,” added Gill.
MoneySuperMarket boosts customer loyalty and retention
Salesforce has been at MoneySuperMarket’s side throughout its Reinvent strategy, which is now in its second year, helping to upskill its team and scale its processes. The strategy has been a great success so far, increasing customer engagement and delivering growth to the bottom line.
“Salesforce is part of the MoneySuperMarket family of partners and will help us stay ahead of the game as we continue to grow our services and customer base,” said Gill. “With Salesforce, we can deliver greater personalisation and value, which helps us to boost customer loyalty and drive repeat engagement.”