Reaching Profitable Younger Prospects with Precise Segmentation and Targeting

Many regional banks are assessing the value of their customer base in an effort to attract deposits. They often operate in markets where the prevailing customer profile is older and less affluent than the national average. Although this customer segment represents a stable source of revenue and keeps a higher share of their assets in deposit products, their relationships do not represent the highest lifetime value.

Thus, it is not surprising that regional banks are seeking to acquire younger, mass affluent households with a higher lifetime value. In order to do this, banks must understand and identify these consumers and then reach out to them with appropriate product, pricing and service offerings.

In this case study, we look at one regional bank that used Financial Cohorts asset-based household segmentation to identify and target younger, mass affluent prospects in order to meet the bank’s goal of increasing customer lifetime value.

Read our case study for details.