Major financial services company achieves higher response rates and lower mailing costs with Dun & Bradstreet
A large, complex financial services company with a mix of business and consumer clients was looking to grow their business.
Todays’ marketers have to be even more innovative and creative in
their targeting (while still closely watching costs) in order to “break
through the clutter” and profitably acquire new small business and
consumer customers. Although financial services companies have
expanded their use of new marketing vehicles such as online ads and
e-mail marketing, direct mail continues to be their primary way of
putting the right offer in front of the right prospect at the right time.
Financial services companies have become very sophisticated in their targeted marketing to consumers, but until recently most companies have not applied the same scientific marketing approach to their business customers. It’s all about marketing to the right universe, and, in this case, information is power.
Achieving significantly higher overall response rates requires enriched information to drive more sophisticated marketing models. To boost return on investment (ROI), these companies need to ensure that their offers are delivered to the right business. To reduce mailing costs, companies need to completely avoid mailing to locations that are duplicates, out of business, undeliverable, or unlikely to respond.
Dun & Bradstreet is helping this customer by:
This enrichment allows modeling on a much higher number of attributes than a typical mass-market mailing list. The Dun & Bradstreet information enrichment process allows for very sophisticated targeting models (including business demographic, ownership, and credit characteristics).
The Dun & Bradstreet solution also identifies total locations as either “out of business” or “undeliverable,” enabling the customer to avoid the hard collateral and postage expenses without decreasing the overall response rate.
By confidently delivering the right offer to the right prospect, this financial services client significantly increased the response rate while saving money by mailing to fewer locations.