Leading financial services’ provider Sainsbury’s Bank is to extend its behaviourally based email marketing strategy to its home insurance online marketing. The move comes following a significant increase in open and click rates across Sainsbury’s Bank pet insurance online portfolio as a direct result of behavioural analysis by RedEye. ROI results of 750% across pet insurance campaigns have prompted the extension into home insurance.

The RedEye behavioural email service sends out event-triggered emails automatically when it recognises specific online behaviours, in this case targeting emails based on specific areas of the site with which the user has engaged. Relevant communications encouraging re-visiting of quotes or reiterating the benefits of Sainsbury’s Bank insurance products emanate from a unique combination of email marketing and web analytics from RedEye. This bespoke behavioural email strategy has already proven tangible results in boosting online conversion rates, improving customer service and developing stronger customer relationships.

Sainsbury’s Bank initially utilised activity driven triggered emails in response to saved quotes and basket abandonments. Results show that for one “retrieve a quote” campaign, Sainsbury’s Bank achieved a 70% open rate, with a general conversion rate of 12.8% achieved across all campaigns. The click rate average across all campaigns has also topped the 50% mark, proving triggered behavioural email marketing an invaluable tool in re-engaging with prospects currently logged into the buying process.

Stephen Paton, e-Commerce Relationship Manager at Sainsbury’s Bank comments, “Industry research* has revealed that up to 75 percent of shoppers abandon their online shopping baskets before completing the checkout process, a problem we have successfully overcome with RedEye through relevant, timely emails triggered by behavioural analysis. The excellent results, such as a 750% ROI from our pet insurance campaigns have encouraged us to extend our strategy to car insurance and home insurance, with the potential to roll out further in the future.”

Andy Stockwell, Senior Account Director at RedEye concludes, “Behavioural email is an immensely powerful tool, enabling companies to react instantly to events, thereby providing a higher level of customer service and a real point of differentiation – a fact which these results from Sainsbury’s Bank have proven.”
www.sainsburysbank.co.uk
* Research source http://www.clickz.com/showPage.html?page=2245891, Michael C Fina

Media Contact:
Ali Rider alir@loudmouthpr.co.uk 01663 751787 or 07773 515539

Published on: 12:00AM on 15th October 2008