Effective Marketing through Customer Data Enrichment
IF you are trying to talk to everyone, you're not talking to anyone
Improve your results with our customer data enrichment and customized segmentation analysis.
Customer Data Enrichment Customer data enrichment, often refereed to data enhancement, combined with a data driven market segmentation analysis, allows clients to target specific customers, and non-customers, that match specific products, and services, based on characteristics you might not be tracking. This might include: life-cycle data, occupation, discretionary income, proximity to your office, profitability, ethnicity, spending habits and more.
Using Data Enrichment
Using a “data-driven” approach, means you make strategic decisions based on data analysis and interpretation. It helps clients better serve customers, increase sales, improve operations and identify new business opportunities.
Customer data enrichment is the process of enhancing your customer data with additional information pulled from external sources. This permits us to create enhanced market segmentation analysis which allows our clients to define, target, and generate lists of non-customers and customers – at the household level. Additionally, we can target existing customers that represent additional revenue for the institution's for cross-selling or up-selling to increase your institutions share of wallet.
By segmenting your market and customers, you can create messages that will resonate with your audiences.
Watch this two-minute video about customer data enrichment at the household level.
Since 1983, GISBanker has been a trusted source of unique and differentiated data that yields actionable insights and drives revenue. Through persistent innovation, we have evolved into an insights, analytics, and technology leader.
We help our clients enhance, synthesize and activate customer data,
Turn complex insights into an understanding of customer needs, personalize the customer experience with the right messages in the right channels, and meaningfully measure performance to optimize marketing spend and customer value.
We carefully analyze the market segments defined through the customer data enrichment and their relationship to specific products and services. This allows you to create specific messages that will speak directly to your audiences and build deeper customer loyalty. This helps you stay focused on the customer no matter if you are using social media or direct mail - both want to achieve the same bottom-line result of improved response rate and better ROI.
Here is an illustration: This chart is an example, showing a 93% correlation between discretionary income and geographic location and a particular target market segment. The target market segment, Prudent Professional J51, was highly correlated to a specific account offering offered by the institution.
This market segment (Prudent Professionals) is generally college-educated; these families have their budgets in check. They have relatively low discretionary spending compared to their incomes. Although they carry a high number of lines of credit, they have low credit utilization. They are mostly on-line bankers and generally do not find the stock market to be too risky. Their Vantage Scores are usually higher than the national average.
As an example, this segment is ideal for an institution with a focus on equity lines of credit, Internet banking and credit cards.
Our goal is to provide services that can simultaneously increase your reach into your target markets while saving you time and money and improve your efficiency, all grounded on data.
To learn more about customer segmentation click this link: Market Segmentation - If you are trying to talk to everyone, you're not talking to anyone - learn more
Using GIS technology, combined with years of experience, we help you develop a focused view of your markets based on the most current data.
If you are interested in knowing more about our service, please contact us here:
Steve Bouton, Director (619) 917-7596 for more information. Or Click here to email for more details