NeoStats substantially boosted client retention using advanced analytic by precisely targeting and re-engaging previous customers with optimized win-back strategies which significantly improved conversion rates
“Very professional, extremely knowledgeable experts that are always eager to assist. The Neostats team has translated complex technical tasks into simple, understandable language”
Isang Linchwe
Enterprise Agility Strategist, Letshego Holdings
Increase in Personal Loan Bookings
0
X
Incremental Revenue Per Year
+
0
%
Increase in Loan
Ticket Size
Ticket Size
+
0
%
Situation
The bank faced significant challenges in re-engaging customers who had settled their loans, resulting in very low conversion rates for personal loans. The issue was further exacerbated by inefficient tele-calling practices and delays in customer outreach.
Challenges
- Extremely low conversion rates.
- Limited effectiveness of current contact strategies.
- Challenges in re-engaging inactive customers.
- Ensuring the accuracy and completeness of data
Solution
Developed ML propensity model through which we
- Accurately identified high-potential leads for loan offerings
- Optimized channel selection
- Implemented tailored outreach strategies to significantly enhance conversion rates
