Increase in lead conversion rates
Reduction in customer acquisition costs
American Express (AMEX) is a multinational financial services company that offers a broad range of financial products and services to SMEs – from international payments (FX) to business credit cards.
American Express asked Adzact to help find, target and communicate to businesses who required foreign exchange and international payment facilities (FXIP).
They wanted to ensure they were maximizing customer opportunities across the economy. Not only targeting existing customers to cross-sell FXIP services and products but also looking to open up new and untapped markets. As a solution to that, the marketing team’s initial instinct was to use propensity modelling.
After deploying Adzact models across their marketing channels, American Express saw a number of improvements:
Since Adzact’s model was implemented within AMEX’s FXIP business, the rate of conversion has increased by 3x vs the existing propensity model. And the cost of acquiring a new B2B customer is now 6x times lower than before.
As part of the onboarding strategy, the existing propensity model was maintained for several months and run in parallel with Adzact. On every metric, Adzact outperformed the incumbent.
The results of this side-by-side comparison revealed that Adzact was:
American Express used Adzact’s advanced targeting algorithms to create personalised buyer experiences that customers loved. The accurate identification of ideal buyer audiences for every product was achieved through our targeting tools. Additionally, the marketing treatment for each account was optimised for return on marketing spend, and messaging was driven by insights, ensuring that every marketing message resonated with the audience.