• MPColetti

In Your Face: The Actionable Deep Data Insights About Your Customers Sitting Right Under Your Nose

Updated: Mar 25, 2019

There is one particular credit reporting agency doing exciting things in the data analytics space offering complementary services available to financial institutions. I'm not going to say which. That's no fun, but this information is publicly available so you can find it if you go looking on the internet.

I will say, however, that this one service from this one agency will allow you a level of insight you could never independently obtain while utilizing all non-regulated data. Even better? Because the agency is aware of those tradelines your organization is reporting to it, e.g. your customers, they can provide much of this information without even having to ingest a report of non-public personal information from your core system.

What kind of information are we talking about? The exact type of information you would need to build complete customer profiles to use for actionable marketing insights. Information you can store in your CRM to use for customer segmentation and targeted campaigns. I'm not going to say how many attributes can be measured, but I will say its a number with four digits. The agency then uses this information to segment based upon well-defined customer profiles that you can use in targeted marketing.

Some of the information which this agency makes available through this service includes:

  • Buyer behavior regarding customers’ shopping habits and how likely they are to purchase across 38 categories, and the likelihood to purchase within certain retail channels;

  • Life event likelihood such as homeownership, relocation, family size changes, and more;

  • Consumption activities and interests from entertainment to food, to coupon usage and warehouse memberships, to investment behaviors, as well as automotive information;

  • Purchase predictors; and

  • Marketing channel preferences.

With the information you've isolated to arrive at the insights you choose to use, this agency can even help you access the omni-channels you need to convert this information to sales. This is exactly the type of information most financial institutions starve to acquire, without realizing that it's already in their possession. The customer profile can be used as another data point in an overall profitability strategy.

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