Facing continuing pressure to grow assets under management and increase lifetime value from customers, many financial institutions are assessing the value of their customer base and looking for attractive new segments with high growth potential.
In this highlighted case study , we share how Equifax worked with one regional bank to examine its customer base and apply asset-based segmentation to identify mass affluent households for an upcoming campaign.
The insights delivered by Equifax enabled the bank to narrow its prospect list and revealed that the refined target audience holds significantly more assets and deposits than the original prospect population.
What can Equifax reveal about your customers and prospects?
Working with Equifax, one regional bank narrowed its target audience by 90%, reallocating associated cost savings to communicate to its’ target via the preferred online channel.Assuming a 2% response rate and capturing just 10% of each consumer’s total invested assets, the firm can grow AUM by up to $108M and deposits by up to $18M.
Contact us today to hear about our special offer on marketing solutions to help you increase deposits, cross loan products, or engage customers based on potential!