Solutio Opens The Trading Floor
Marketing, consultancy and fulfilment organisation Solutio has launched The Trading Floor as an alternative to conventional data sources. It will exchange and enhance customer and enquirer information through a centrally managed data pool.
Contributing insurance companies and intermediaries will sell-on unrequired customer enquiry data via The Trading Floor’s consolidated database to a network of pre-approved partners and the wider general data market.
Recipient providers utilise the data available to drive customer acquisition through their own marketing techniques from direct mail, telesales and email campaigns through to hotkey transfers direct from the internet or call centres. Additionally, recipients can utilise the factual information available to enhance their existing customer records with fresh transactional data for cross and up-selling purposes.
Chris McDonald, Solutio’s sales and marketing director explains: “Insurance providers hold an incredible amount of dormant data which they’ve paid a lot of money to acquire, but are unable to convert -either due to price competition or because the potential customer is unsuited to their particular customer profiles. Competition is pushing up cost-per-click prices, with the result that only the key players are able to drive substantial traffic to their websites. Combine this with the high cost of acquiring standard data which is often ‘hit and miss’, and it means that most insurance providers are faction higher marketing spend for often half the results. After a trial period, we’re already seeing fantastic results. The Trading Floor proposition is making insurance data work smarter and harder for our partners.”
(Brokers Monthly – December 2005)
Contributing insurance companies and intermediaries will sell-on unrequired customer enquiry data via The Trading Floor’s consolidated database to a network of pre-approved partners and the wider general data market.
Recipient providers utilise the data available to drive customer acquisition through their own marketing techniques from direct mail, telesales and email campaigns through to hotkey transfers direct from the internet or call centres. Additionally, recipients can utilise the factual information available to enhance their existing customer records with fresh transactional data for cross and up-selling purposes.
Chris McDonald, Solutio’s sales and marketing director explains: “Insurance providers hold an incredible amount of dormant data which they’ve paid a lot of money to acquire, but are unable to convert -either due to price competition or because the potential customer is unsuited to their particular customer profiles. Competition is pushing up cost-per-click prices, with the result that only the key players are able to drive substantial traffic to their websites. Combine this with the high cost of acquiring standard data which is often ‘hit and miss’, and it means that most insurance providers are faction higher marketing spend for often half the results. After a trial period, we’re already seeing fantastic results. The Trading Floor proposition is making insurance data work smarter and harder for our partners.”
(Brokers Monthly – December 2005)
