Vitality sells health and life insurance plans to businesses and consumers. It’s the first insurance company to reward people for healthy living.
Vitality’s business development team had a successful track record of onboarding new B2B customers, but they were beginning to suffer from data exhaustion. Mass dialing to a limited market over an extended period had led to overexposure, opt-outs and diminishing returns.
Ross Dowson, Vitality’s Head of Direct Sales Operations, turned to Growth Intelligence to help revitalise this key marketing channel. Our challenge was to find a fresh source of companies Vitality had not previously targeted, that had a high likelihood of being ‘in-market’ for health and life insurance products.
To start with, we examined Vitality’s historical prospecting data and used it to identify the traits common to the prospects who had gone on to become their best customers. This information was used to build a predictive model, which identified more than 130,000 brand new prospects that shared those traits. During an initial pilot campaign, calls to those companies generated twice as many appointments as calls to Vitality’s own records.
Vitality is currently experiencing a 24% reduction in cost per appointment, and is on target to achieve a 10x return on investment in Growth Intelligence by the end of year one. And because Growth Intelligence’s models use machine learning, the quality of Vitality’s recommendations is improving month-on-month.