Marks & Spencer Money
Kognitio helps Marks & Spencer Money take a progressive approach to introducing customers to Chip & PIN. |
|
‘Chip & PIN authentication of credit and debit card transactions became mandatory in February 2006, forcing Marks & Spencer Money to issue new cards to its 2.5 million financial customers and this could have been a costly and
disruptive exercise. But, working with Kognitio, Marks & Spencer Money used Chip and PIN migration to cement customer loyalty, drive new sales and increase profit’.
Martin Squires, Customer Intelligence and Analysis Manager at Marks & Spencer Money
The Challenge
Faced with the introduction of Chip and PIN, how does Marks and Spencer Money, a leading financial services provider, use the opportunity to avoid high levels of customer churn and cross sell additional financial services as well as strengthen brand loyalty?
Solution
Marks and Spencer Money have implemented a comprehensive marketing campaign using their customer intelligence database platform with the help of Kognitio.
The ROI
Based on the intelligence gained from using their database, Marks and Spencer Money benefited from the transition to Chip and PIN to achieve up to 97% card activation rates and
incremental cross sales worth in excess of £950k net.
Click here to read the full story
back
to case study home
back
to top
