Published on 30-Jun-2011
Validated on 05 Dec 2012
Customer:
Korean Credit Card Company
Industry:
Financial Markets
Deployment country:
Korea - Republic of
Solution:
Business Integration, Business Process Management (BPM), Smarter Planet
Overview
A credit card company headquartered in Seoul, Korea is one of the fastest-growing credit card companies in South Korea. The company is a Korean market leader in premium cards and is one of the largest card issuers in the country, having experienced an eightfold market share increase in seven years and nearly 8 million cardholders.
Business need:
As a countermeasure to continuous and fierce wallet-share competition, this credit card company needs to capture changes in customers’ behavior, execute effective marketing and eventually maximize existing customers’ value. To meet its goals, the company needed to introduce a new marketing management plan, integrate contact records and establish a fatigue rule management system that monitors all marketing touches to prevent overexposure to specific customers.
Solution:
The client implemented a Campaign Management System, a Real-time Marketing System, and a Transaction Management (TM) System. The Campaign Management System was established to quickly share and analyze results from diverse campaigns/events to provide integrated offers across multiple product channels. The Real-time Marketing System was established after defining campaign fatigue and event-based marketing (EBM) to optimize response rates through targeted offers to each customer based on actual purchase patterns.
Benefits:
• Allows the company to better manage the customer’s experience by detecting, in real time, various events that happen to customers and structuring the best actions to take in response
• Customer history is now available for real-time analysis, and available for cross-channel, integrated marketing and real-time marketing campaigns
• Increases the rate for marketing success by providing integrated offers, and sharing the results through diverse campaigns and real-time marketing activities
Case Study
A credit card company headquartered in Seoul, Korea is one of the fastest-growing credit card companies in South Korea. The company is a Korean market leader in premium cards and is one of the largest card issuers in the country, having experienced an eightfold market share increase in seven years and nearly 8 million cardholders.
The Opportunity
As a countermeasure to continuous and fierce wallet-share competition, this credit card company needs to capture changes in customers’ behavior, execute effective marketing and eventually maximize existing customers’ value. To meet its goals, the company needed to introduce a new marketing management plan, integrate contact records and establish a fatigue rule management system that monitors all marketing touches to prevent overexposure to specific customers.
What Makes It Smarter
The client implemented a Campaign Management System, a Real-time Marketing System, and a Transaction Management (TM) System. The Campaign Management System was established to quickly share and analyze results from diverse campaigns/events to provide integrated offers across multiple product channels. The Real-time Marketing System was established after defining campaign fatigue and event-based marketing (EBM) to optimize response rates through targeted offers to each customer based on actual purchase patterns.
Real Business Results
• Allows the company to better manage the customer’s experience by detecting, in real time, various events that happen to customers and structuring the best actions to take in response
• Customer history is now available for real-time analysis, and available for cross-channel, integrated marketing and real-time marketing campaigns
• Increases the rate for marketing success by providing integrated offers, and sharing the results through diverse campaigns and real-time marketing activities
Solution Component
IBM WebSphere Business Events
For more information
Please contact your IBM sales representative or IBM Business Partner. Visit us at: ibm.com/financialmarkets
Products and services used
IBM products and services that were used in this case study.
Software:
WebSphere Business Events
Legal Information
© Copyright IBM Corporation 2011 IBM Corporation 1 New Orchard Road Armonk, NY 10504 U.S.A. Produced in the United States June 2011 All Rights Reserved IBM, the IBM logo, ibm.com and WebSphere are trademarks of International Business Machines Corporation, registered in many jurisdictions worldwide. A current list of IBM trademarks is available on the Web at “Copyright and trademark information” at ibm.com/legal/copytrade.shtml Other company, product or service names may be trademarks or service marks of others. The information contained in this documentation is provided for informational purposes only. While efforts were made to verify the completeness and accuracy of the information contained in this documentation, it is provided “as is” without warranty of any kind, express or implied. In addition, this information is based on IBM’s current product plans and strategy, which are subject to change by IBM without notice. IBM shall not be responsible for any damages arising out of the use of, or otherwise related to, this documentation or any other documentation. Nothing contained in this documentation is intended to, nor shall have the effect of, creating any warranties or representations from IBM (or its suppliers or licensors), or altering the terms and conditions of the applicable license agreement governing the use of IBM software.