FINALIST

Best use of FastStats® 2015 Award Finalist

Using FastStats PeopleStage to enable a triggered, automated programme of email communications to welcome, on-board and educate new customers

Company Overview

TD Direct Investing (TDDI) is the UK subsidiary of Toronto-based TD Bank Group who have in excess of 85,000 employees and 22 million customers worldwide. From their UK (offices in Leeds and Manchester), TDDI is one of the leading online investing providers, servicing over 300,000 customers with £13 billion of stock and cash assets. 

TDDI offer a range of self-serve investment products, however their core account offering is Share Trading, Stocks & Shares ISA (Individual Saving Account) and SIPP (Self Invested Personal Pension). These accounts can be managed via phone, online or through TDDI’s award winning online investment app.

The marketing team within TDDI is headed up by Marketing Director Tim Gambrill who joined the company at the start of 2015. Within the team are Digital, Brand and Communications; and Customer Knowledge and Insight functions and at the heart of these sit Apteco Discoverer and PeopleStage (referred to as the Customer Marketing Toolkit, or CMTK within TDDI).  CMTK is championed by Graham Lusby (Head of Customer Knowledge and Insight) and Rachel Mboma (Campaign Analytics Manager).

The Challenge

OccamA key challenge upon recruitment of a new customer is to keep them engaged in the product(s) and brand so they will activate their account and ultimately use it on a more frequent basis e.g. completing more trades. It is also important for TDDI to be able to identify high value customers suitable for a one to one conversation with a customer advisor. To address the challenge, TDDI worked in partnership with Occam to design and implement a Welcome journey which harnessed the power of FastStats to enable a triggered, automated programme of email communications to welcome, on-board and educate new customers. In addition call-lists were created to facilitate relationship building for high value customers.

Following implementation of the new Welcome Journey, significant improvements have been delivered: 11% increase in the number of activated accounts & 70% increase in the value of assets.

The Objectives

Two objectives of the Welcome Journey were:

  • Increase the number of activated accounts within the first 90 days
  • Increase the number of assets from new clients within the first 90 days

The Results

Following implementation of the new Welcome Journey, significant improvements have been delivered:

  • 1. Increase the number of activated accounts within the first 90 days  - 11% increase in the number of activated accounts
  • 2. Increase the number of assets from new clients within the first 90 days - 70% increase in the value of assets

The Welcome Journey was the first major project initiated following implementation of Apteco FastStats so Occam also used it as an opportunity to provide further training and development within the marketing team at TDDI.  Not only has the new Welcome Journey delivered some great financial results, it also gave the opportunity to test and push the limits of PeopleStage whilst at the same time developing and nurturing talent within TDDI.