Success Story: Top 5 Bank Improves Customer Segmentation with Investyles®

Quote

 “IXI’s Investyles data is the cornerstone of our affluent marketing strategy. We now use IXI’s data to improve our customer segmentation for almost all of our marketing campaigns.  IXI’s Investyles data is ‘all the rage’ throughout our organization.”

Bank Representative, Top 5 Bank

Situation

A top U.S. bank faced with demanding customers and fierce competition wanted to pursue deeper relationships with their customers. 

Objectives

Superior customer segmentation and focused marketing efforts were needed.  The firm wanted to:

• Better identify wealthy customers
• Determine customer potential and size of wallet
• Objectively assign customers and prospects to defined segments

Solution

The bank relies on IXI’s Investyles wealth ratings data to improve customer segmentation.  Investyles helps the firm:

• Improve its customer and prospect targeting models by examining customer financial capacity
• Fine-tune products and services offered 

IXI was selected because it is the only source of consumer financial information that provides data based on directly measured liquid assets.  All of the top 10 U.S. banks are members of IXI’s consortium. 

Results

“We have determined that IXI’s Investyles data is the top predictor for assigning people to our designated customer segments compared with over 2,000 variables,” states a VP of Modeling from the bank. 

To confirm Investyles’ superior segmentation ability, the bank:

• Developed a model to place customers into a handful of groups that segment consumers by behavior and age - the model incorporated the bank’s internal data about their customers, IXI’s Investyles wealth data, and other data
• Tested the model against an internal survey of customer wallet size
• Tested IXI’s direct measured data against other outside data sources that rely on survey information or estimates of consumer wealth.