As the market continues to remain unsteady and consumers’ financial positions are the weakest they have been in decades, firms are facing more challenges than ever before. IXI understands these challenges and is working with our clients to help them alter their strategies, rebuild their balance sheets, grow assets under management, reconnect with their most valuable customers, and find new customers that have the capacity to invest and purchase their products and services.
IXI’s StrategIXInsights paper series provides strategies and tactics that firms can implement to help combat these challenges, as well as relevant information on market trends.
Surpassing Online Cost per Acquisition (CPA) Goals with Financial and Economic-Based Audience Targeting
Firm Leverages IXI Digital Solutions to Decrease Campaign CPA by 62%
Firms that sell their products and services via online channels often gauge the success of current campaigns by comparing them to the performance of past campaigns. However, matching the performance of past campaigns is not enough – most campaigns have significant room to improve, whether measured via CPA, impressions, conversions, or other metrics. This case study discusses how IXI worked with a firm that helps consumers manage their finances to decrease the CPA of its online ad campaign by using financial and economic measures to better target qualified prospects.
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Best Practices for Brokerage Firms: Quantifying the Opportunity and Creating Client Treatment Groups
Brokerage Firms Can Use IXI’s Total Assets Estimates to Identify Millions of Dollars of Hidden Assets within Client-Base
Brokerage firms and their Financial Advisors (FAs) need to be able to understand the hidden asset potential within their client-base. However, they often only have a view of what their clients hold with them, resulting in decreased efficiency and missed opportunities. This best practice discusses how brokerage firms can utilize IXI’s total assets estimates to quantify the opportunity to grow assets and help FAs prioritize their efforts toward clients with the most growth potential.
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Reaching the Right Audience Online with Wealth Based Targeting
Financial Services Firm Reallocates 78% of Impressions to Visitors with High Investable Assets
Like many financial services firms and their agencies, a leading U.S. firm wanted to improve the performance of its online campaigns. Based on IXI’s analysis of one of the firm’s recent online campaigns, the firm discovered that 78% of impressions had been served to unqualified consumers, those likely to have less than $100,000 in invested assets. This paper explains how with AudienceTarget, the firm was able to serve ads only to visitors that lived in neighborhoods where IXI estimated there was an average of over $100,000 in invested assets per household.
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Paradise Lost. Premium Found
Leveraging Household Financial Position to Better Drive Anticipated Premium
Insurance firms typically rely on sophisticated models to target new life business. However, these models have largely reached a plateau in their effectiveness, offering only marginal gains in response and conversion metrics. In today’s economy, insurance marketers require additional insights to positively impact total premium gathered. This paper discusses how targeting that relies on household financial position can better enable insurance marketers to identify consumers that are likely to have significant premium potential, achieve up to a 68% lift in direct mail targeting, and more efficiently capture additional premium dollars.
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Tracking Money on the Move with Financial Cohorts
The lasting effects of the credit crisis had a tremendous impact on U.S. households between 2008 and 2009. In this study, we show that IXI’s Financial Cohorts tracks money on the move, responding to shifts in consumer financial situations on a household by household basis, thereby setting it apart from other segmentation systems that lack IXI’s unique consumer financial insights. Firms can use Financial Cohorts migration insights to tailor their marketing and risk management plans according to the changing financial profiles of their customers.
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Can Collections Firms Flourish in Today’s Economy?
How Consumer Ability to Pay Optimizes Collections Analytics and Operational Efficiency
Consumers have record levels of delinquent debt yet little liquidity, leaving collections firms and credit issuers to compete for every consumer dollar. This paper offers collections firms and credit issuers a way to improve their analytics by enhancing their collections models with a measure of household ability to pay that is based on the current financial position of delinquent households. With this data, collections firms can achieve significant lift – up to 32% – in collections dollars, better prioritize their collections efforts, and improve channel management.
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Response Rates vs. Money:
The Benefit of Profit-Driven Segmentation in Acquisition Campaigns
Historically, acquisition campaigns in the financial services world have focused on achieving the highest response rate possible. This response rate-driven marketing assumes that all new customers are good customers, not on customer profitability. This paper discusses how targeting that relies on profit-driven segmentation can enable marketers to achieve better results in terms of relevant financial metrics. A case study for a life insurance firm executing a fixed annuity campaign is utilized to prove the relevancy and benefits of profit-driven segmentation.
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Six Healthcare Challenges; One Data Driven Solution:
Impact of Consumer Financial Capacity and Ability to Pay in Healthcare Profitability
In today’s economic environment, achieving profitability requires that healthcare firms incorporate data-driven, proactive solutions to enhance efficiency and avoid lost revenue opportunities. The paper discusses how financial capacity data can enable healthcare firms to achieve measurable lift in predicting payment likelihood, expected recovery rate, donation behavior, and level of service utilization.
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The Next Frontier in Mortgage Predictive Analytics:
Using Total Income from Salary and Assets to Improve Mortgage Risk Management
As the financial crisis continues, mortgage investors and servicers are struggling to find ways to minimize losses. Predictive analytics provides a means to affect loan modification and risk management strategies, yet mortgage companies must be sure they are incorporating the best customer and loan-level data available to gain a complete view of the borrowers in their portfolio.
This paper explains how total household income (income generated from salaries and assets) can better enable mortgage companies to evaluate borrowers and define treatment groups based on their ability to afford and sustain their mortgage payments.
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