Customer Data Enhancement and Segmentation - Improve Your Results
Customer Data enhancement leads to improved targeting, customer understanding and reduced marketing costs, reduced wastage, and improved Return On Investment.
ITS - Integrated Tracking Systems provides customer data enhancement, 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 for cross-selling or up-selling to increase your institution's share of wallet.
We provide services that can simultaneously increase your reach into your target markets while saving you time and money and improving your efficiency, all grounded on data. Using GIS technology, combined with years of experience, we help you develop a focused view of your markets based on the most current data.To learn more about the Customer Data Enhancement Click Here
Our analysis and data enhancement will help you become "Laser-Focused" and improve your results in all marketing efforts. You will:
- Recognize key market segments that match specific customer profiles,
- Identify market gaps that represent opportunities, and
- Create a file of non-customers to market too.
Equifax Economic Cohorts. There are over 71 unique market segments that can be assigned to a customer, based on Segmented Household’s Economics
We combine Cohort data with specific spatial data to identify and model likely customers for specific products or services. One key field included in our analysis is discretionary income. Discretionary income represents money to be spent on non-essentials. Here are some of the variables available for data enhancement.
- 1. Customer locational information
- 2. Profitability
- 3. Integration of third party data
- 4. Life cycle,
- 5. Discretionary income,
- 6. Enhanced geographic data
- 7. Economic Cohorts
To learn more about the Equifax Economic Cohort Framework Click Here
The following Drive Time Analysis map,created by using Maptitude GIS and shows a specific target market segment, Prudent Professional J51, within a Trade Areas based on drive-time to the office. This segment was highly correlated to a particular account offering the institution wanted to promote. In this example, the segmentation model included: Proximity to the institution. the economic cohort, the discretionary income and the targeted account balance.
This institution had a few of these customers (represented by the Blue dots) and these customers all tended to be within the geographic 20 minute drive time service area. This represented a massive opportunity for the institution. We were able to build lists of non-customer households that match this specific market segment within this market area.
Specifically pinpointing your audience will yield better marketing campaign results. Using our analysis, combined with customer data enhancement, allows our clients to focus their marketing dollars and brand message on a specific target market segments that are more likely to buy or use your services than other segments. This is much more affordable, efficient, and effective way to reach potential clients and generate business.
Integrated Tracking Systems is a premier provider of GIS Mapping Solutions, Analysis and Data Enhancement for the financial service industry Our GIS business market analysis provides a clear insight into the composition of the business environment in which you compete. We conduct this analysis at the branch level and it includes:
- 1. Complete business profile based on third-party data sources,
- 2. Your institutions market share by industry,
- 3. Each branches primary service area,
- 4. Competition,
- 5. Gaps in your marketing area and opportunities.
As a result, institutions are able to target their best prospects and not waste their marketing and advertising resources. Our GIS also helps financial institutions to fulfill some compliance requirements for CRA and HMDA.
ITS-Integrated Tracking Systems is known for our full service GIS (geographic information systems) support. GIS enables you to fully understand the dynamics of the geographic markets you serve. We are ready to assist in developing these understandings and addressing the strategies and programs necessary to leverage your position in the market and to take full advantage of your market dynamics. This includes the latest census and ACS (American Community Survey) data updates. We want to be your ally in increasing Marketing ROI and helping ensure you are building profitable relationships with the right customers and helping you increase customer engagement and loyalty. For a sample of a business market summary click here or contact us today! For more information click here to contact us today!
A great example for targeting specific geographic areas, used for prospecting for new clients, can be achieved with a " Heat Map or Hot Spot Analysis".
To learn more about Heat Maps or Hot Spot Analysis click here
Call us today for more information on our services at (619) 917-7596 OR email us using this quick formClick here