MassMutual peers into the minds of its customers to sell retirement

Reed Karaim

MassMutual, the insurance provider, combined sophisticated segmentation with data science in order to better understand customer habits and drive 401(k) contrbutions.

A “mindset” marketing model built on data science helped MassMutual, the 165-year-old financial services company, run a record-setting campaign to get Americans to save more for retirement.

The proof? One January 2018 marketing campaign that combined this model with data science to improve message response rates “brought in more new deposits than all of 2016 combined” while also cutting costs by 65%, explained Greg Long, MassMutual’s head/client acquisition marketing.

“These results really brought home the power of data science to the entire organization,” he explained to the KNect365 Marketing, Analytics and Data Science (MADS) Conference, an event held in San...

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