Leading Financial Services Company Uses Enabled Concept to Develop Marketing Operations Dashboard
Overview and Problem Summary
A top three global credit card issuer was experiencing higher than acceptable marketing costs due to its inefficient structure which allowed each business unit globally to execute their own marketing. As part of a large cost-cutting campaign, the company decided to centralize its marketing operations into one unit. However, there was no infrastructure for monitoring and managing a centralized marketing organization. Adding to the challenge was the need to integrate, instrument and control multiple function systems used for key functions such as compliance, regulatory, copywriting, creative, etc.
Enabled Concept was asked to partner with the client to develop a technology infrastructure for monitoring and managing the new centralized marketing organization. EC first worked with the client to identify how information flowed between the functions and systems. Next we worked to identify the key metrics to be utilized such as cost per component, time per function, etc.
We then developed a graphical dashboard which tracked all marketing components as they flowed through the processes and functions. This dashboard tracked the key metrics for each group. In addition, it used analytics to forecast metric threshold violations as well as volume overloads or bottlenecks in advance so they could be avoided or mitigated.
Once the dashboard was implemented, it became the central management tool for the newly created marketing operations unit, resulting in multiple millions of dollars in cost savings.