An Post - Pushtheenvelope

Keaney Financial Services had products that would be a perfect fit for the additional needs of their existing customers. All they needed to do was tell them.

The Business

Keaney Financial Services Ltd (KFS) provides independent financial advice and administration for senior executives and business owner-managers. KFS also represents all major insurance companies and a number of financial institutions. Key business areas are mortgages, business insurance, life assurance, tax relief and retirement planning.

The Challenge

KFS offers a personalised service, tailored to the particular circumstances of each customer. Some products have seasonal relevance and clients need to be informed about these at the appropriate time.

For KFS to generate ongoing business, it needed to leverage off its existing customer base. It was important to target customers appropriately, with information on additional products that fit their needs.

Meeting the Challenge

Mail was the ideal way to target customers with relevant communications on specific products offered by KFS. The advantage is that customers can take the time to read the information when it suits them – versus a sales call which may come at an inconvenient time, or an email which could be deleted unread from a busy mailbox.

KFS segmented its customer base and used simple mail merge technology to generate personalised communications. The content of the communication was based on potential client needs: for instance, Income Protection products for the self-employed or ownerdirectors, Retirement Planning information for an older age group and Mortgage products for a younger market. The mailing generally offered a “taster” of the product, with a key message encouraging a response from the potential client.

Once target customers have received the mailing, KFS followed up with a phone call or email, which generated a much better response from the customer who had already received a personalised mailing on a relevant product. In some cases, a follow-up letter was also sent to build interest.

The Results

The mailing programme was and continues to be successful in generating immediate new business from existing customers. An additional benefit is the “slow burn” of raised product awareness among customers. While this may be more difficult to gauge, it can result in a call from a customer six or even twelve months down the line. Essentially, when a customer has come around to considering a certain product – maybe retirement planning – they now have KFS in mind as an informed provider.

Keaney Financial Services Ltd. is regulated by the Financial Regulator.