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Financial Cohorts

A breakthrough household segmentation system that leverages IXI’s direct measurement of approximately $14 trillion in anonymous, financial assets
“The ability to have better knowledge of our members’ financial behaviors and assets allows our team to better understand our members – this is key to needs-based selling tactics.” Source: Scott Blue, Vice President of Marketing at South Carolina Federal Credit Union

Case Studies

Financial Cohorts is an asset-based household segmentation system that segments customers and prospects based on anonymous, measured financial and behavioral characteristics.

Exclusively for IXI►Net Member-Firms, financial services marketers can use Financial Cohorts to better understand the likely financial and behavioral characteristics of distinct customer and prospect groups in order to increase the relevance and effectiveness of their marketing efforts. Financial Cohorts is available for use in both direct marketing and online efforts and was developed with the guidance of our Member-Firms and validated via testing of millions of client records.

Key Differentiators of Financial Cohorts
  1. Foundation of Anonymous, Measured Assets Drives Cluster Definitions and Assignments
    • Defines and segments households into 61 clusters based upon a foundation of anonymous, direct-measured asset data. IXI’s proprietary database of about $14 trillion of anonymous, measured assets can enable effective financial segmentation
    • The foundation of direct-measured data defining cluster assignments reflects changes in assets that occur every year
  2. Financial Data Used for Clustering is Multi-Dimensional
    • Financial Cohorts groups customers based on a multi-dimensional framework including:
      • Estimated Financial Capacity and Potential:
        • Assets – Estimated household assets
        • Income – Estimated total income based on income from salaries plus income generated from investments
        • Spending – Estimated household discretionary spending
        • Credit – Likely availability of credit
      • Likely Investment Style:
        • Portfolio Complexity
        • Risk Preference
        • Advice Orientation
        • Credit Usage
      • Additional Variables: Age, demographics, and urbanicity
  3. Clusters Are Not Defined by Survey Data
    • Survey data is not used to define the clusters; it is only used to enhance cluster descriptions after clusters have been defined
  4. Better Identifies Households Likely to Have Money
    • No bias against affluent households
    • Several clusters have greater than $2 million in median estimated assets
  5. Aligns with the Way You Run Your Business
    • Groups customers based on standard industry definitions of wealth
    • System aligns with our clients’ strategic needs and the way they run their businesses
Applying Financial Cohorts to Your Business

Financial Cohorts cluster codes help marketers differentiate consumers based on key characteristics such as estimated assets, demographics, and consumer behaviors. Companies can then use the codes to target the best customers for their firm and determine the right offer and message that will resonate with their target audience.

Financial Cohorts can be applied to your business via:

  • Customer and prospect coding for targeting and messaging
  • Geographic market sizing to prioritize markets
  • IXI’s WalletInsights online platform enables users to apply the data to a variety of business challenges

With Financial Cohorts Digital, online users can be assigned a Financial Cohorts cluster code real-time for both ads and landing pages as well as other online interactions.

Financial Cohorts integrates with all IXI market-level and household-level solutions, expanding the range of single-sourced solutions that IXI offers to its network members.

Use Asset-Based Household Segmentation to Drive Marketing Strategy and Tactics

Suggested applications for Financial Cohorts include:

  • Profile Customers – Better understand likely household behaviors for a more accurate predictive measure of how they will interact with you
  • Conduct Market Analyses – Size markets for key target segments and identify growth opportunities
  • Define Product Strategy and Distribution – Determine effective product positioning and match offers with appropriate customers
  • Prospect for New Customers – Supplement acquisition efforts by identifying households in target clusters and communicating effectively
  • Appropriately Cross-Sell/Upsell – Identify optimal cross-sell/upsell opportunities within your customer base based on estimated current share-of-wallet and the likely financial capacity of customers within your base
  • Improve CRM and Loyalty Efforts – Communicate with customers in a relevant tone, and through relevant channels, with relevant offers
  • Tailor Positioning and Messaging – Version creative and copy for maximum relevance to targets
  • Choose Marketing Channels and Media Placement – Match marketing/media channels with preferences of target segments

With Financial Cohorts Digital, firms can:

  • Optimize Online Targeting and Offers: Target visitors likely to have the right financial profile for your brand and products for both online advertising and landing pages. Serve premium offers to visitors likely to have significant financial potential and save lower value offers for others
  • Tailor Online Messaging: Differentiate site visitors on the fly, and develop creative and messaging that will resonate with your target audience based on a better understanding of their financial profiles
  • TEST