Enhance targeting for ITA credit card campaign with wealth-based financial measures
Best Practice: Enhance targeting for credit union’s credit card invitation to apply (ITA) prospecting campaign with wealth-based insight
CHALLENGE:
Improve targeting efficiency for credit union’s direct mail ITA prospecting campaign
Company wanted to improve campaign efficiency
SOLUTION:
Credit union can utilize WealthComplete® household-level total assets estimate to identify prospects likely to have higher asset potential and narrow the target audience
WealthComplete: Enables firms to gain an estimate of total invested assets per household
By applying WealthComplete estimates to its model, the credit union can:
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IDENTIFY households with significant estimated asset opportunity
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NARROW the target audience to these higher potential prospects
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SEGMENT households without the use of protected class variables
Results of back-end analysis
By applying WealthComplete to its model, the credit union could decrease the target audience
of ITA prospecting mailings by 43%, SAVING OVER $100,000 IN OPERATIONAL COSTS.
Potential results for a typical campaign:
Neither these materials nor any product described herein were developed or intended to be used for the extension of credit to any individual, nor may they be used for purposes of determining an individual's creditworthiness or for any other purpose contemplated under the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq. Prior results not always indicative of future performance
