DDM - Financial Services

Determining the Opportunity & Creating Client Treatment Groups - Banking

Segment your customers and prospects to optimize your marketing campaigns

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Determining the Opportunity and Creating Client Treatment Groups Best Practices for Banks case study Challenge A bank's marketing department was creating a direct mail marketing program to cross-sell asset products and needed to determine the target audience. The bank wanted to find a way to identify and prioritize high opportunity customers in order to target only those who were most likely to produce high returns on outreach efforts. Solution The bank can use WealthComplete ® total assets estimates to identify high opportunity customers and develop treatment groups for cross-sell and upsell campaigns. Data Needed: WealthComplete Total Assets Firm Total Retail Balance and Firm Total Households Firm Customer Datafile Including ZIP+4 and Age WealthComplete provides a complete picture of wealth for U.S. households. It is based on our proprietary, anonymous, direct-measured TM financial assets database and is projected to represent the total financial liquid assets held by all U.S. households, approximately $24 trillion. WealthComplete can be used for customer segmentation, share of wallet opportunity analysis, and asset allocation analysis. IXI TM Network Member Financial Services Firm CHALLENGE Banks need to be able to identify the ideal target audience for direct mail campaigns, yet they often only have a view of what their clients hold with them resulting in decreased efficiency and missed opportunities. SOLUTION Banks can utilize WealthComplete total assets estimates to identify, prioritize, and target high opportunity customers for cross- sell and upsell campaigns. RESULTS By understanding customers' growth potential, banks can: ■ Develop appropriate treatment groups and prioritize high opportunity customers ■ Capture millions of incremental assets from those customers that have a less than average balance at the bank and greater than average total investable assets

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