A data science company using its fraud science technology leverages movingDneedle sales lead generation program to expand its customer base in the USA and UK market
Customer Industry: Fraud Detection & Management. Many organizations are incorporating strategic Initiatives to improve security and reduce risks. They are responding to cyber-criminal attacks by investing on:
- Cloud-based cybersecurity (69%)
- Big Data analytics (59%)
- Cybersecurity insurance (59%)
- Risk-based security framework (91%)
- Formally collaborate with others (65%)
Background: Customer is a data science company that uses real-time, machine-based learning to help payment networks, banks and retailers prevent fraud in omnichannel commerce. Customer’s fraud science technology fuses machine learning with human intelligence to power payments systems globally for customers in North and South America, Europe, and Africa.
The Customer wanted to bring its expertise in regard to fraud protection technology to different parts of the world that have leap-frogged straight to mobile and advanced chip cards. The greatest challenge for a customer was to draw support and cooperation from their traditional marketing strategies to meet the market change.
They were in touch with a couple of partners who set up appointments with the cold-calling channel but during the course of time the customer realized that the quality of the leads was not so appealing as the leads did not have a context for the appointment and most of the meetings were set up with the designations not holding decision making powers. In most cases, it was just a casual catch up agenda. The customer wanted to meet the decision makers from the Operations, IT, Finance, Compliance, Fraud & Risk and Technology who would be interested in the solutions and willing to collaborate with the customer currently or in the near future.
Choosing the right mix of marketing strategy to make the most of the sales opportunities required a new vision on how to interact with customers, which made the customer associated with movingDneedle, leveraging the Personalized Email Marketing framework for its sales lead generation program.
Step 1. Market study and Lead Qualification Parameter
- movingDneedle conducted a detailed market study understanding the ecosystem for the customer in the mentioned markets.
- movingDneedle discussed the lead qualification parameter with the customer to understand the business requirements in detail.
- A document that summarizes the understanding of the offering was prepared by the Project Head at movingDneedle.
- This document became the primary reference material for campaign design, funnel building, database creation and campaign mail drafts.
Step 2. Campaign Design and Management
The aforementioned business understanding document was used to design campaigns, build the list and design campaign drafts. movingDneedle designed and drafted three major campaigns for the customer.
- Campaign for top US and UK Banks
- Campaign for payment processors (Fortune 500 companies)
- Campaign targeting Retailers with more than 100 MN in revenue
movingDneedle executed the campaigns for a minimum period of 5 months to the following designations:
- Finance: CFO/SVP/VP/Heads/Sr. Dir/Dir/Controller
- Operations: COO/SVP/VP/Heads/Sr. Dir/Dir
- Technology & IT: CTO/CIO/SVP/VP/Heads/Sr. Dir/Dir
- Fraud, Risk & Compliance: SVP/VP/Heads/Sr. Dir/Dir
Step 3. Campaign Results: Optimization and Measurement
- Analytics report was shared with the customer based on the campaign responses.
- All the queries that resulted during the campaigning were shared with the customer.
- There were modifications made in each campaign as per the timely update from the customer based on the campaign response.
- The campaigns were scaled up and scaled down during the progress of the engagement.
- Campaign messages talked about the pain areas occurring in the industry and the solutions provided by the customers which created opportunities during the sales meetings.
- The campaigns successfully resulted in contextual meetings where the customers not only discussed the problems and solutions but also the kind of engagement and the delivery model the prospects would be interested in.
- A healthy sales pipeline during the campaign cycle was developed for the customer sales team.
- Forecasting the number of leads for the coming months based on the analytical reports sent by movingDneedle was made easy.
- The customer did not need to spend any extra buck on branding as the Personalized Email marketing served the purpose.