Communications Assessment Reveals Six-Figure Savings | Insurance
Communications assessment empowers strategic vision, reveals six-figure savings
A major U.S. home warranty company needed help in three core areas of its marketing strategy: customer acquisition, customer engagement, and third-party channel promotions. The client’s VP of marketing outlined an aggressive strategic vision that would require the right partnerships to enable the technology, services, and support needed to be successful.
In order to do this, the client asked RRD to conduct an assessment and give them a recommendation for a solution that provided a comprehensive, integrated foundation for a best-in-class communications management strategy.
RRD conducted end-to-end research that included meeting with 11 client stakeholders that fueled a proven consultative process of discovery, analysis and recommendations. RRD then presented a conclusive roadmap for creating an effective and useful company assessment, which focused on the following objectives:
- Functional workstream descriptions, workflows, procedures, and common practices
- Supply chain partner performance and pricing
- Identifying relevant comparative data
- Technology components utilized to support future business objectives
With these objectives thoroughly explored, RRD was able to create a final recommendation that would improve a number of areas and result in:
- Unified workstreams that were once siloed by workflows and suppliers
- Response rate lifts through adopted communication formats and test strategies
- Strategic sourcing and supply chain management of services purchasing cycles
- Greater spend and volume transparency across all workstreams
- Augmented print channels with emerging communication technologies
Postage optimization savings of 21%
Production and logistics savings over 20% (combined average)
Elimination of 100% of inventory costs (by transitioning to print-on-demand)
RRD’s thorough assessment provided the client with a platform for achieving strategic business objectives for the future. Ultimately, RRD concluded that the client’s historical alignment with targeted suppliers delivering services in a siloed manner did not allow it to achieve its strategic vision. Only a strategy that integrated all functional work streams into a holistic communications approach was a viable option for a new architectural platform.
Using spend data provided by the client compared to project operating costs — and leveraging the model RRD recommended — RRD was able to predict potential savings with the assessment.
While cost savings are essential, RRD’s assessment also provided “bigger picture” innovation recommendations, which would enable the client to achieve long-term objectives, independent of financial constraints.