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 Overview Success Stories
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Banca Popolare di Novara—Investing In Rewarding Customer Relationships 
In the crowded financial services industry, it's a bank's commitment to customer satisfaction that sets it apart from the competition. And today, that calls for personalized attention. With an average of 1,000 customers per branch office to satisfy, Banca Popolare di Novara (BPN) realized it had a sizable challenge. Fortunately for them, they found Chordiant.
Taking stockBPN has been providing banking services for the people of Italy since 1871. In 1999, BPN managed more than 80 trillion lira (US$36.7 billion) in assets and customer deposits. Today it leads a powerful credit group. With more than 520 branches spread throughout Italy, BPN was in an ideal position to implement Chordiant Marketing Director. Sizing up the challenge BPN's management knew that attracting and retaining customers was critical to their success in this new, evolving economy. But how could they effectively keep existing customers up-to-date with all the various services that could benefit them, while still reaching out to new prospects? The challenge was ensuring branch offices maintained good relationships with customers. But how much customer information did each branch know? Even in an extremely efficient branch, they might only be able to recall information on 100 to 200 customers. To achieve anything close to true one-to-one marketing, BPN needed to understand and deliver on all their customer needs. With BPN's extensive customer base, this would be extremely difficult to achieve using traditional marketing methods. "We wanted to build relationships with each of our customers. But we needed help organizing and controlling quite a mix of variables," said Luca Nazzario, head of operational marketing for BPN. "We had more than 600 products to market. And we were running between 20 and 30 campaigns per year. Now figure in coordinating 5 to 10 communication channels and 4 classes of customers among more than 520 branch offices. To put it bluntly, without a strong process-driven engine, it would have been impossible." Developing a winning strategy With checking, savings and credit account activity, plus fund and insurance holding information for its entire customer base, BPN's database was extensive-but easily manageable with Marketing Director's advanced database functionality. Since Marketing Director has the ability to scale a single database to handle more than 100 million unique customer records, BPN was able to put its most valuable asset to work for the company and its customers. What's more, BPN's plan included empowering its marketers with Chordiant technology, so they could integrate customer touchpoints; become more customer-centric; and build closer, more profitable customer relationships. "BPN has always had a strong planning methodology. Unfortunately, it wasn't supported by technology," explained Nazzario. "That is until now. With Marketing Director, we now have the ability to create highly successful campaigns, check their results and make incremental refinements." Putting the wheels into motion With Marketing Director in place, BPN can now capture and analyze the critical customer data it needs to maintain continuous, relevant dialogues with customers. BPN's marketers can now identify valuable customers and extend personalized cross-sell and up-sell offers through the contact channel that each customer prefers. They can also market to new customers, and even launch retention campaigns at customers who may be considering leaving for the competition. "There's nothing better than providing your business network with successful marketing campaigns. Sellers start trusting you, and rush to give you more business," stated Nazzario. "That's a great loop to be in. One that needs to be supported by a reliable system such as Chordiant Marketing Director." Delivering satisfaction all around Marketing Director has enabled BPN to deepen its existing customer relationships, while treating new customers like they're already part of the family. As a result, customer satisfaction is up, marketing costs are down —and revenues are on the rise. "Today, we are able to orchestrate multichannel campaigns and reach our customers through numerous different ways," affirmed Nazzario. "Running more than six campaigns per month, BPN often reaches double-digit response rates. In fact, depending on the target market and product, we have seen rates as high as 38 to 50 percent. We are very satisfied with Marketing Director. Our future goals include perfecting multichannel integration and increasing response rates even more." By choosing Chordiant Marketing Director, Banca Popolare di Novara has made another winning investment. |  | |
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