The Client
Legal & General, is a British multinational financial services company headquartered in London. Its products and services include life insurance, general insurance, pensions and investment management. It has operations in the UK, US, Europe and Asia.
The Challenge
Legal & General work in the cluttered and highly competitive over-50s market. They tasked Edit with improving the ROI of their direct mail campaigns. To achieve this, we needed to reach those people most likely to respond positively – but could we go even further?
The Approach
We combined response history and geodemographic data to create a propensity model. This was designed to improve conversion, target more effectively and improve the efficiency of data buying. The approach identified the most valuable response profiles when were then used to optimise ongoing targeting criteria.
The Results
Legal & General’s response rate for their next campaign increased by 56%, saving an estimated £800,000 on direct mail over the course of the first year. For the work, Edit also won an award from the Chartered Institute of Marketing.
56%
increase in response rate
£800,000
saved on Direct Mail campaigns
