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Home » Marketing » Mortgage Marketing

Mortgage division gains insight into customers and prospects ...

Source: www2.kbm1.com
Topic: Mortgage Marketing

Sort Desciption: sought out KnowledgeBase Marketing to help them better define this audi-. ence. The mortgage division wanted a clearer understanding of the crowded finan- ...

Content Inside: ANALYTICSSUCCESS STORY Mortgage division gains insight into customers and prospects through KBM SM analytics Challenge A top financial services companys mortgage division was cross-selling its mortgage services to customers utilizing their other services for some time and was looking for ways to improve their response from this group. They sought out KnowledgeBase Marketing to help them better define this audi- ence. The mortgage division wanted a clearer understanding of the crowded finan- cial services customer market so they could market their mortgage services more effectively to them. They believed that through deeper understanding of their target audience and identification of well-defined market segments they could make their message more relevantreduce acquisition costs and increase conversion rates. Solution KnowledgeBase Marketing recommended a customized prospect segmen- tation to identify the differences in their customer universeenabling them to design a more targeted marketed approach to align with the attributes of each segment. The KBM analytical approach used both 3rd party demo- graphic data as well as the companys behavioral transaction data. While not a magic bulletcustomized segmentation allows successful companies to ex- ploit market differences to bump response and conversion rates. Even small percentage increases result in significant revenue increases. Here is an overview of the KBM analytical process for examining this universe segmenting into clusters and recommending appropriate actions for each segment: Base Universe The segmentation universe included 1.5 million individuals in the companys non-mortgage customer universe for 2004 and 2005en- compassing those who opted-in for marketing offers and were homeowners. The sample for analysis was 250000. Data Analysis The data used to create the segments included two sources: Customer Universe 41 attributes covering financial specific data and survey responses INDUSTRY Financ ...

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