Advantage Home Loans  

Business Problem

• Advantage Home Loans is the UK's sub-prime mortgage lending arm of American bank Morgan Stanley.
• Mortgage brokers place business by telephone or through an online mortgage application system with all transactions feeding into a back office system.
• This market is intensely competitive and the ability to quickly identify a drop-off in a broker's transactional activity, and react through telephone call, an email, or a visit from a member of the sales team, is key to preventing brokers from defecting to competitor vendors.
• Advantage's back office system could not do this.

Solution

• Honeycomb deployed DataCentre with nightly data feeds from the back office system to build a single customer view, and transform transactional data into a format that permitted Advantage's marketers to analyse broker activity and react accordingly.
• Prospect lists were then imported, flagged and de-duplicated on a regular basis to ensure that marketers could access a clean, up-to-date, combined customer and prospect marketing database.
• Each broker is scored according to the recency and frequency of their transactions so that Advantage can identify those brokers who are falling off and defecting to the competition, as well as the top ranking brokers.
• Sales and marketing activity is synchronised to ensure that top brokers are rewarded appropriately, whilst those that are in danger of defecting, or whose activity is falling off, receive relevant, attractive offers to re-motivate them.

Results

Prior to the sub-prime crash in autumn 2007 the sales and marketing team were running at 200% of targets. Need we say more?