A credit union wanted to improve the targeting efficiency for its direct mail ITA credit card campaign. The credit union was relying on internal models and other publicly available data to define the target audience for its credit card prospecting campaigns, resulting in targeting a large population of prospects and a high cost per campaign.
The credit union can utilize IXI Services’ WealthComplete household total assets estimate to identify prospects likely to have higher asset potential and then narrow the target audience for its ITA credit card campaign. WealthComplete enables firms to gain an estimate of total invested assets per household. By applying IXI Services’ total assets estimates to its model, the credit union can identify and target households with significant estimated asset opportunity.
By applying WealthComplete to its model, the credit union could narrow the target audience of the ITA prospecting mailing by 43% and better market to optimal credit card candidates. This would potentially save significant operational costs, for example totaling over $100,000 in direct mail expenses.