Best Use of FastStats 2012 Awards
Speedy are the leading provider of equipment hire and support services. They focus primarily on B2B in the Construction, Infrastructure and Industrial sectors, with an estimated turnover of £325 million.
Speedys business strategy is to increase market share in the UK which will be done by building solid relationships with customers and diversifying and growing in services outside of the core offering of hire of equipment. Integral to this development of solid relationships was to create a single customer view in order to analyse customers and then be able to gain a greater understanding of them.
Before FastStats Speedy had a fragmented view of their data, and they found it difficult to generate tangible campaign results, data stores were disjointed and there was little linkage across the systems which meant that there was no overall view of issues that needed to be addressed. Campaign data was outsourced and there was lots of manual processing. This was both resource and time heavy, and they were unable to demonstrate whether they were achieving their business objectives and maket effectiveness.
Speedy used PeopleStage to run this campaign which enabled them to closely measure the effectiveness of mailing a catalogue to the customer base.
Communisis is an all-channel, full-cycle communication company. They create unique marketing solutions, adding value at any and every touchpoint in the communication cycle.
Speedy worked with Communisis to tackle five of the biggest topics in the marketing industry right now. These were;
- Big Data
- Market Intelligence
- Customer Lifecycle
- Multichannel Marketing
- Marketing Automations
And FastStats was the tool which was chosen by Communisis and Speedy to deal with these big topics.
Speedy were rich in good information but they needed to get this data feeding into one place while ensuring that they weren't creating another system for another department, or a new database which was out of sync.
FastStats is treated as the central hub of data at Speedy, where it is hosted, and all Market Intelligence information feeds into it, and other systems integrate with it. FastStats is updated daily and a nightly feed of data is taken from their operational system and monthly feeds of prospects from a number of suppliers. In addition to this Speedy have integrated FastStats with Communicator, their email platform, allowing the automated transfer of data to and from the systems so trigger campaigns can be created from one place and save resource.
On a day-to-day basis FastStats is used for data mining, profiling, segmenting customers, which means they can identify cross sell opportunities and monitor campaigns and sales.
A good example of how FastStats works was through its use in Speedy's annual catalogue campaign. Speedy used PeopleStage to run this campaign which enabled them to closely measure the effectiveness of mailing a catalogue to the customer base. Information such as cost and recipients spending for the previous 12 months were all held in FastStats, while dashboards showed both the response rate and the revenue generated. In the 2012 Catalogue campaign the 'lapsed', 'dormant' and 'prospect' mail cells outperformed control cells and for the first time Speedy was able to understand which customers to target and which customers not to target. These learnings can now also be applied to next year. By using FastStats Speedy gained confidence in their data from the success of their catalogue campaign.
The benefits which Communisis have helped Speedy develop through the use of FastStats are:
- They now understand their customers better
- They don't bombard customers with sales messages
- Their communications are tailored to the customers specific needs
- They can now communicate with customers when they want and how they want
- They have less customers unsubscribing