Acquiring young, mass affluent customers - Case Study

Reaching profitable younger prospects with precise segmentation and targeting

Situation: Many regional banks are seeking to acquire younger, mass affluent households with significant growth potential.


Regional banks often operate in markets where the prevailing customer profile is older and less
affluent, yet these relationships may not yield a high lifetime value. Banks need to identify and communicate with younger, mass affluent households in order to develop new relationships that can ultimately generate long-term profits for the firm. 


A regional bank used Financial Cohorts® asset-based household segmentation system to identify and target younger, mass affluent consumers for its prospecting campaign.


By using Financial Cohorts, the regional bank was able to:

  • Easily identify prospects in its footprint who are likely to develop into profitable, long-term customers based on their affluence and age
  • Determine the appropriate message, offer, and channel based on the financial profile of the target audience

The analysis enabled the bank to focus its prospecting campaign on younger households with significant investment potential.

The insights delivered by Financial Cohorts enabled the bank to:

  • Narrow the target audience for its prospecting campaign by 90%
  • Increase the total invested asset opportunity of the target audience by 900% (from $31K to over $300K per household) and the total deposit opportunity by 500% (from $10K to over $50K per household)
  • Pursue over $54 billion in potential new assets and over $9 billion in new deposits
  • Expect to grow deposits by $18 million and total assets by $108 million






Results may vary based on actual data and situation.





For more information on our segmentation products check out Economic Cohorts and the (NEW!) Financial Spectrum.

Learn more about Equifax Data-driven Marketing solutions. Visit our microsite.

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