October 2009 Issue
Editorial
Top Story
The Expert's Column
Client focus
- E.ON - Identifying optimal contact strategies
- Forex Capital Markets - Combating global fraud and money laundering
- HSBC - Enhancing customer service with consistent decision making capabilities
- Isbank - Identifying optimal customers with accurate risk profiles
- Shinsei Financial - Optimising credit lending strategies
Debate
- Using data to enhance SME credit decisioning
- Signs of recovery? Risk and collections managers' work is yet to come!
- How to motivate your collections team with incentives that work
- How optimisation can improve collections performance
News & Features
- SimRisk - The international credit risk management competition
- Events & collaboration - Credit Risk Management Master, Università La Cattolica in Milan
- Experian and I-SEC partner to offer advanced document checking service
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E.ON - Identifying optimal contact strategies
E.ON is one of the UK's leading power and gas companies – generating and distributing electricity, and retailing power and gas – and is part of the E.ON group, the world's largest investor-owned power and gas company.
E.ON's retail business supplies around eight million electricity and gas customer accounts, covering domestic, SME and industrial. E.ON also offers central heating and boiler care services.
In the UK, E.ON is one of the country's foremost energy suppliers, it is the second largest electricity generator and owns the second largest distribution network.
In recent times, the business landscape has become ever more challenging with many companies, across various markets and industries looking to streamline operations and ensure that any investments deliver real value.
E.ON recognised that the ability to identify the optimal contact strategies for each customer could improve the organisation's ability to manage their direct marketing programmes, generate increased sales volumes and add value from the available contact opportunities.
Having determined that an increase in the effectiveness of direct marketing campaigns could provide tangible returns, E.ON selected Experian's award winning Marketswitch Optimization tool.
Marketswitch Optimization uses individual customer data to identify optimal contact strategies by simultaneously considering all the elements such as management policies, operational constraints or regulatory requirements. This enables a sophisticated trade off between marketing costs and the probabilities of sales and revenue to be made.
E.ON can manage its contact rules and protocols, scheduling future contacts over many cycles of marketing activity. The overall contact strategy is designed to satisfy strategic objectives and operational constraints. This ensures the right offer is made to each customer, at the most relevant time, through the most effective channel.
Mark Perrett, Head of CRM for E.ON UK, commented: "When the business environment is tough it is even more important to ensure that investments of this nature deliver significant returns. Our pilot project proved that optimisation can deliver at least a 10 per cent performance improvement against a traditional marketing approach. This is just one of the business problems it can solve, so we expect to generate a return on the investment many times over.”
Ed Heal, Head of UK Telecom and Utilities for Experian's Decision Analytics division, said: "E.ON is leading the market by being the first to adopt advanced optimisation in the UK energy market. Our experience with other clients clearly indicates that E.ON will benefit from a significant and sustainable uplift to both sales and value.”
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