2x
Increase in call-to-meeting rate
130k
New in-market companies identified
24%
Reduction in cost per meeting
About
Vitality is the first insurance company to reward people for healthy living. Owned by Discovery Holdings, a leading global insurer with over 4.4 million clients, the business sells health and life insurance plans to both businesses and consumers.
AI Models Used
F Fit AI ®
V Value AI ®
Introduction
For many years, Vitality have been running large-scale B2B marketing campaigns. Their B2B sales and marketing activities have enjoyed a roaring success by focusing on a single goal — growth. As Ross Dowson describes it: “The quickest route to failure is bad data, the quickest route to success is good data.”
“The quickest route to failure is bad data, the quickest route to success is good data.”
Ross Dowson, Director of Direct Sales
Challenge
Inside sales as a channel was losing its effectiveness
Like many other businesses, Vitality operates in a competitive and crowded market. According to Ross, the inside sales channel was becoming less efficient over time due to market exhaustion, aversion to cold calling, and the competitive landscape of Vitality’s market.
It was becoming clear that traditional company attributes like sector and turnover were not predictive of whether businesses would engage and buy from Vitality. They simply didn’t have access to more strongly correlated data points that could be used to model the likelihood to buy, which led them to call into a market that was shrinking day by day. Which led them to question the viability of inside sales as a go-to-market channel.
Solution
Finding patterns in the best customers
Growth Intelligence analyzed Vitality’s CRM data and used it to identify the patterns of signals* that were commonly found in Vitality’s customers. These signals were then used to build an AI model, which identified over 130,000 previously not targeted accounts that shared the same traits of Vitality’s most successful customers. These newly identified prospects were then sent straight to Vitality’s inside sales teams for immediate engagement.
Results
Wider customer universe.
Better team morale.
Growth Intelligence had not only opened up a wider universe of businesses to target, it had also identified low converting companies in Vitality’s existing database that should not be approached.
This led to:
24% reduction in cost of acquisition, and
2X increase in call-to-appointment conversion rate.
The impact of the improvements has also made a positive effect on team morale, making the front-line teams more confident and motivated.
"Our data strategy was already sophisticated with several different propensity models running, but none had access to the insights Growth Intelligence has.
We have increased conversion rates, reduce costs, and expect to see continual improvement."
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