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  1. LTIMindtree is now LTM | It’s time to Outcreate
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  3. Enhancing the customer experience by modernizing a leading North American bank's contact center

Driving 3X business growth through innovative MarTech solutions for a global cybersecurity leader

Aug 01, 2024

  • Client Background
  • Objectives
  • Challenges
  • Strategic Paradigm
  • Key Outcomes
  • Conclusion
  • Client Background
  • Objectives
  • Challenges
  • Strategic Paradigm
  • Key Outcomes
  • Conclusion

Client background

A global leader in cybersecurity, the company provides advanced security solutions to individuals, businesses, and government entities worldwide. With a focus on delivering comprehensive protection against the latest cybersecurity threats—such as malware, ransomware, and phishing attacks - the organizationʼs innovative technologies secure the digital lives of millions of users and thousands of organizations. As the digital landscape evolves, they remain committed to ensuring the safety and security of its customers' digital experiences.

Objectives

Our client set an ambitious goal to drive 40% business growth over two years through the implementation of advanced marketing technologies. The key objectives included:

  • Enabling data-driven campaigns
  • Personalizing customer experiences 
  • Implementing omnichannel marketing
  • Streamlining operations
  • Fostering innovation and automation 

Challenges

The client faced several challenges in achieving its digital MarTech objectives: 

  • A decline in subscription, retention, and loyalty-driven business 
  • The absence of user profiles and profile stitching, leading to insufficient targeting of relevant offers 
  • Limited opportunities for tailored product targeting 
  • Campaign execution gaps that led to higher costs, longer time to market, poor-quality deliverables, and insufficient transparency and communication between stakeholders
  • A lack of innovation and automation 

Strategic Paradigm

  • Gained a deep understanding of the clientʼs industry, audience, and goals.
  • Developed a customized IP solution on the MarTech stack to enable scalable, 1st-party-driven omnichannel personalized email campaigns, executed through a structured 5-step plan. 
    1. Step 1: Launched email marketing initiatives across three target groups to retain customers and boost subscriptions and loyalty. Expanded the email program to the top 33 cultures, transitioned monetization emails to a hybrid model, and reduced the unsubscribe rate by 15%. 
    2. Step 2: Delivered highly personalized data driven customer experiences. Introduced behavioral email strategies to increase customer reach, a new initiative for the client.
    3. Step 3: Enabled omnichannel marketing by implementing a seamless remarketing strategy across channels, including email series for cart abandonment and exit intent pop-ups on all landing pages and carts to engage both acquisition and retention audiences.
    4. Step 4: Streamlined campaign operations to reduce time to market, increase efficiency, and optimize costs. Implemented a rapid testing methodology to enhance productivity and gain quicker insights. Reduced the number of templates by creating dynamic versions that provided personalized product information to the entire contactable audience.
    5. Step 5: Drove innovation and automation by leveraging machine learning models to implement dynamic pricing in email templates, offering users a personalized experience. 
  • Established strong governance, program management, and streamlined campaign processes to improve efficiency and reduce costs. This included developing onboarding and transition kits, updating playbooks, creating SOPs, and setting up SLAs and business KPIs to standardize all reporting methods. Built strong, trust-based relationships through consistent and transparent communication.

Key Outcomes

  • 3X Business Growth Achieved through increased product subscriptions, improved customer retention, and enhanced local engagement
  • 2X Revenue Growth Driven by better user subscription metrics and a significant reduction in cart abandonment over two years.
  • Activated Millions of User Data Leveraged for omnichannel marketing campaigns.
  • Average Selling Price Experienced nearly double-digit growth over two years.
  • Email Open Rate Improved by 17%
  • Unsubscription Rates Decreased by 74%, even with a 100% increase in email volume. 
  • Opt-in vs. Opt-out Registered users have a conversion rate (CVR) 3X higher than unsubscribers and are 2X less likely to uninstall the product
  • 2X Cost Optimization Consolidated 70+ templates into one personalized template for monthly newsletters and increased testing frequency from one per quarter to two per month, totaling over 24 tests annually.
  • Program Expansion Results Achieved a 33% increase in user clicks on monetization landing pages and carts.

Conclusion

Through strategic implementation and leveraging advanced MarTech tools and custom built solutions, our client successfully enhanced and managed their digital operations. By activating vast amounts of first-party data, personalizing customer experiences, and optimizing costs, our client achieved substantial business growth and established itself as a leader in MarTech innovation.

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Case Study
calendar June 3, 2024
Modernize Your Workloads on Snowflake with PolarSled
David Althoff
Chief Business Officer, Insurance

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