Fifth Third Bancorp Selects Quaero to Measure Marketing Effectiveness and Enhance the Customer Experience
Quaero, a leading provider of services to accelerate marketing performance, was selected by Fifth Third Bancorp to help the bank measure marketing effectiveness and create an improved customer experience. To accomplish this, Quaero recently revamped Fifth ThirdÂ’s data store making it easier to analyze and use customer information for direct marketing programs.
Charlotte, NC (PRWEB) June 29, 2005
Quaero, a leading provider of services to accelerate marketing performance, was selected by Fifth Third Bancorp to help the bank measure marketing effectiveness and create an improved customer experience. To accomplish this, Quaero recently revamped Fifth ThirdÂ’s data store making it easier to analyze and use customer information for direct marketing programs.
Quaero customized and implemented Fifth ThirdÂ’s marketing campaign management system, Unica Affinium Campaign. The implementation was done in concert with the bankÂ’s design and build of a marketing data mart and the deployment of Business Objects for reporting. In addition to the implementation, Quaero helped the bank design key tables to effectively execute and measure marketing programs.
“Quaero is a true thought leader in the marketing space and has really paved the way for us to accelerate our marketing performance,” noted Katherine Black, vice president of direct marketing, analytics and research, for Fifth Third. “Much more than a systems implementation partner, Quaero has helped us to think about our entire marketing process to better gather and organize information to improve the customer experience.”
Fifth Third has 5 million customers, segmented into the following groups: consumer, high net worth consumer, commercial and small business. The bank currently runs direct mail programs for new account acquisition, cross-selling and retention, primarily through direct mail and call center and branch calling efforts.
According to Black, the bank has several loyalty programs in place and is constantly measuring customer loyalty via outbound surveys and through standard metrics. Fifth Third is very focused on a loyalty program for new customers and wants to roll the program out to its larger customer base. “Our work with Quaero to revamp the database has been absolutely critical here,” Black notes. “We are finally able to access and analyze customer data, which has been a painful process, until now.”
Fifth Third will remain focused on automating more and more of its marketing processes. This will free up time for higher level customer analytics and ultimately, more effective marketing programs.
About Fifth Third Bancorp
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $102.7 billion in assets, operates 17 affiliates with 1,097 full-service Banking Centers, including 129 Bank Mart® locations open seven days a week inside select grocery stores and 1,989 Jeanie® ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia and Pennsylvania. The financial strength of Fifth Third's Ohio and Michigan banks continues to be recognized by rating agencies with deposit ratings of AA - and Aa1 from Standard & Poor's and Moody's, respectively. Additionally, Fifth Third Bancorp continues to maintain among the highest short-term ratings available at A-1+ and Prime-1 and is recognized by Moody's with one of the highest senior debt ratings for any U. S. bank holding company of Aa2. Fifth Third operates four main businesses: Retail, Commercial, Investment Advisors and Fifth Third Processing Solutions. Investor information and press releases can be viewed at www.53.com. Fifth Third's common stock is traded through the NASDAQ® National Market System under the symbol "FITB." Member FDIC.
About Quaero
Quaero is a marketing and technology services company that provides unparalleled value to firms for improvements in the effectiveness of their organization and technology investments. Leveraging QuaeroÂ’s proprietary MAST(SM) Marketing Effectiveness evaluation and Six Dimensions of Marketing Performance(SM) framework, QuaeroÂ’s clients gain remarkable insight into marketing process improvements, organizational alignment, measurements and enabling technologies. Quaero provides expert technology services for marketing databases as well as Quaero SpringBoard(SM) an acclaimed, easy-to-implement, low risk web-accessed hosted relationship marketing platform. Quaero serves hundreds of leading clients in the Financial, Travel and Leisure, Retail, Pharmaceutical/HealthCare, Publishing, and Telecommunications/High-Tech industries.
Quaero Contact:
Laura Hupp
Marketing Communications Director
501.217.3892
Huppl@quaero. com
Editorial Contact:
Elizabeth Fairleigh
ThE Connection, Inc.
404.874.4562
Elizabeth@EConnectionPR. com
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