The prestigious DMASA Assegai Integrated Marketing Award is one of the most sought-after awards in the direct marketing industry in South Africa, and this year Archer Digital became finalists with our unique application that focuses on collections of arrears amounts on FNB customer credit cards. Earning an Assegai award is truly a mark of distinction and victory in the world of direct marketing, and competing all the way into the finals is truly a feather in the cap for us! The purpose of this award is to acknowledge and celebrate the true winners that come up with innovative direct marketing campaigns that deliver exceptional results, and Archer’s application was considered one of the best.
The three primary objectives of our FNB campaign:
- To reduce arrears amounts on credit cards.
- To inform customers of a variety of payment methods to redeem their credit card debt.
- To advise customers of arrears and to motivate them to repay outstanding balances within the relevant payment period.
It’s a well-known fact that a lot of people in debt habitually avoid telephonic contact and emails from their creditors for long periods, which may result in extremely high call centre costs when trying to reach customers for payment. Keeping this in mind, we had to come up with a creative way that met the three objectives. We achieved this by way of a multichannel approach wherein debtors were contacted via MMS, reminding them of the outstanding amount, informing them of the various payment methods, and lastly, incentivising them to settle their debt by offering eBucks if they paid regularly and on time.
The MMS or SMS was the primary contact with the customer, followed by a phone call from the call centre. This opened the door for communication through a variety of channels, which proved to be highly effective. The decision was made to keep it light-hearted and friendly, and to avoid the usual debt collection messages, which usually comes across as being antagonistic and intimidating. Instead, debtors were presented with the opportunity to win a prize if they repaid their credit card debt on time for three consecutive months. They were also educated about the different ways to settle this debt, for instance at the bank, through EFT, or online banking.
The success of the campaign was measured by the number of customers who remained up to date with their payments, and the campaign resulted in a 5% increase in arrears payment during the first month of the campaign and an 8% increase in the second month, which was a great achievement indeed. Yes, it has been a win-win situation, with FNB seeing a higher ROI thanks to our strategic campaign, and with it, our chance to spearhead our way at the Assegai Awards!
Keeping our eye on the prize, we must first give thanks to our absolutely amazing and creative team responsible for making it possible to become finalists at this year’s Assegai Awards – we would be lost without you guys! Secondly, we can only say that when it comes to imaginative, innovate strategies, you can be certain that we will always push the boundaries to get the most out of technology, communication and direct marketing!
So, Assegai, here we come!
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