Customer Success Story

Elevating Membership & Revenue for the World’s Largest Museum

The case study delves into the strategies and results achieved to enhance membership and revenue for the world’s largest museum. The primary objectives were to annually grow membership, improve acquisition program Return on Investment (ROI), attract potential long-term donors, and educate prospects on the need for funding to supplement basic operational costs.

The Challenge

LFII initiated the journey with a modest team of 25 Full-Time Equivalent (FTE) agents responsible for making outbound sales calls. The challenge was multifaceted. They needed to rapidly scale their sales operations, engage a larger customer base, and diversify their product portfolio. This required not only an expansion of their workforce but also the development of a more comprehensive strategy to maximize customer acquisition.

The Solution

Over the course of their long-standing relationship with TSI, their outsourcing partner, LFI adopted a holistic approach to address these challenges:

  • Expansion of Workforce: LFI steadily expanded their relationship with their service provider, TSI, to encompass 250 FTE agents. This expansion allowed them to reach a broader audience and drive increased sales.
  • Diversification of Product Portfolio: Beyond basic credit card products, LFI ventured into outbound acquisition of various financial products, including credit card acquisition, home equity prequalification, affinity credit card sales, balance transfer acquisition, and welcome calls. This diversification allowed LFI to engage customers with a broader range of financial services.
  • Geographical Expansion: The partnership with TSI was driven by innovation, including being the first supplier to deploy facilities in Canada. This expansion not only added a new dimension to their operations but also demonstrated their commitment to serving customers across borders.
  • Affinity Card Programs: The partnership evolved to make LFI the sole service provider for ten unique affinity card programs over the years. This strategic move capitalized on the power of partnerships and exclusive offers, enhancing customer loyalty.
  • Business Card Acquisition Services: LFI established itself as a leading provider of Business Card Acquisition Services, showcasing their expertise in catering to the business community’s financial needs.
  • Experimentation and Innovation: LFI and their service provider continually explored new strategies and test programs, allowing for experimentation with various target markets. This agility in adapting to changing customer dynamics proved invaluable in driving results.

The Results

The journey they embarked on yielded remarkable results:

  • Geographical Expansion: LFI’s strategic partnership led to the deployment of facilities in Canada, demonstrating their commitment to serving global customers.
  • Exclusive Affinity Card Programs: The exclusive affiliation with LFI as the sole service provider for ten unique affinity card programs showcased the success of their partnership in building customer loyalty.
  • Business Card Acquisition Leadership: LFI’s leadership in providing Business Card Acquisition Services reflects their proficiency in addressing the financial needs of the business community.
  • Innovation and Experimentation: LFII’s willingness to experiment with various target markets allowed them to stay ahead of the curve and adapt to evolving customer preferences.

In conclusion, LFI’s long-term partnership with TSI and strategic expansion have not only addressed their initial challenge but also transformed them into a versatile lending financial institution with a global reach. This case study highlights the power of a strategic partnership, agility in adaptation, and a customer-centric approach in driving business success.

Customer Experience/Care Management

Inbound & Outbound Voice

CX  & Care Programs

Back-Office Functions

Performance Analytics

Flexible Global Staffing

Business Process Outsourcing

Data Input

Document Processing

Verfication & Validation

Exception Processing

QA Monitoring & Reporting

Business Analytics & Modeling

First Party ARM

1st Party Collections

Pre-Charge Off Program Support

Inbound & Outbound

Early Stage / Care Based

Brand Protection

IT Adaptability / Flexibility

third Party Debt Collection

Post Charge-Off

Primary & Secondary

Late-Stage Recovery

Innovative Technology & Approach

Propensity to Pay Analytics

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