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Partial page image followed by the entire text. Additional links: Niels Waller, Psychometrics expert, Dave Donoho, Statistics expert, Guy Creese, Research Analyst
Xamplify Technologies offers state of the art cross-selling and customer retention applications to the financial services industry. Our solutions answer the most critical concern facing financial institutions today: how to increase high-margin product sales and retain profitable customers.
Our software allows banks, brokerage firms, mutual fund companies, credit unions and insurance carriers to rapidly advance their understanding of their customers in order to increase cross-selling opportunities and operating margin efficiencies. Our primary objective is to create a dramatic increase in cross-sell ratios in our target market; installations of our X-Seller application have generated over an 80% increase in customer conversion and a 90% increase in revenue.
Understanding not just what your customers do, but why they do it allows you to cross-sell and market to them more effectively, creating new value and improving your ROI. Xamplify's self-enhancing system enables selection and leveraging of all available customer data across multiple touch points in real time for maximum efficiency, scalability, and profit.
Xamplify's X-Seller works with existing CIF systems to build three-dimensional models of your customers by integrating demographic and transactional data with psychometric information. Psychometrics measure traits such as who is (or is not) price sensitive, impulsive, open to promotions, loyal, tech savvy, etc. It is the only behavioral metric that directly addresses a consumer's perception of and interaction with a financial services provider. We create and map psychometric-driven customer models to a product purchase probability matrix, the results indicate the dynamic "state" (unaware, interested, committed) of each customer relative to each product or product set; you know who is most likely to buy what next, and how to approach them in a way that is much more likely to motivate them to do business with you.
Customer models and their "state" are updated in real-time by gathering data from your existing customer touch-points, including web, call-center, branch, direct mail, and wireless. The results are integrated with all outbound/inbound marketing and customer support rules-based decisioning systems. This approach not only provides your customers with a consistent touchpoint experience, it ensures your initiatives are based on all available information.
Existing CRM implementations in the financial services industry are broad but shallow, and severely limited in their ability to generate actionable data due to their dependence on conventional analytic methodologies. Because they limit themselves to a two-dimensional analysis (transactional and demographic), existing CRM solutions will never deliver the mission-critical information their customers truly need--why do customers behave the way they do, and how can I use this information to cross-sell to them more effectively? Our use of psychometric analytics not only addresses this issue directly, we have designed our solutions to integrate with and enhance existing enterprise-level CRM systems from Siebel, E.Piphany, Oracle, etc., allowing financial services companies to fully leverage existing investments in CRM infrastructure.
The financial institutions themselves are in an "eat-or-be-eaten" mode, nearly every company is in the middle of 1) highly focused initiatives to hold onto their installed base (due to competitor raiding) 2) rapid diversification of their product offerings (banks buying insurance companies, brokers buying banks, etc.) and 3) improvement on bottom-line driven initiatives that use cross-selling as the primary engine of revenue growth. Our products are most effective when a large company with an existing CRM infrastructure is trying to cross-sell a broad array of products to a large number of customers. The majority of financial companies in today's economy are focusing on cross-selling and revenue generation as their top priority, and all are struggling in their execution of this initiative.
Current problem: A typical financial institution will have 500K to 1M+ customers, and offer these customers over two hundred different products. Average product penetration is under three products per customer.
Unique perspective: Our X-Seller creates psychometric-driven profiles that define at the individual level, what creates value for your customers and how they prefer to be approached. No other software company offers psychometric profiling.
Outbound marketing: By linking these profiles to your products, you can segment customers by actionable values and target them with high probability product initiatives.
Inbound marketing: Profiles can be integrating into existing Call Center operations, supporting dynamic value-based customer routing, and providing CSRs with "most likely next purchase" and scripts that are consistent with individual customer requirements.
Show me the money: If we don't hit the revenue objectives you set on the initial engagement, we'll provide a full refund. Xamplify typically guarantees an improvement of over 25% on your existing metrics, the impact is such that the customer typically gains more than 20 times the price of the software in first year revenues.