Experian Launches Canvasse Saver Maximising customer recruitment and value in the savings market
Monday, 20 February 2006
Experian®, the global information solutions company, launched Canvasse Saver. Developed for the financial services sector, the latest direct marketing solution from Experian enables companies to improve customer acquisition and also increase the value of existing savings customers.
The savings market has changed dramatically in the last five years, demonstrated by the volume of new products now available above base rate, through to the shift in traditional ‘monoline’ providers towards offering broad savings products. According to research conducted by Experian, almost two thirds of the UK saving population holds savings accounts with their current account provider and half admit that they would switch to capitalise on a more competitive product.
Against this backdrop, Canvasse Saver from Experian combines the company’s broad marketing data assets and analytical solutions with its expertise in the financial services sector to enhance customer acquisition campaigns by:
Reducing cost per acquisition - through the removal of prospects who would struggle to save from direct marketing campaigns
Improving campaign response rates - by recommending the most appropriate savings product offers to make to prospects based on their financial behaviours
Detecting savings ‘triggers’ - by identifying events, such as property down-sizing, that indicate the freeing up of income for savings, enabling organisations to target prospects with the most relevant offers
Canvasse Saver from Experian also enables financial services companies to increase the value of their existing savings customers via:
‘De-tuning’ and ‘Backbooking’ management - ensuring that profitable and non-profitable rate sensitive customers are identified and appropriate direct marketing strategies are adapted to maximise value from the entire customer base
Event-based marketing - detecting events on savings accounts - for example, a static balance for an extended period of time - and notifying the organisation to send the relevant marketing communications to stimulate savings activity
Dormancy management - by tracing lost customers via Experian’s Unclaimed Assets Register and its sophisticated tracing services to re-unite them with their savings
On the launch of Canvasse Saver from Experian, Gillian Buttree, Marketing Director for the company’s Marketing Services division, said: “Canvasse Saver from Experian tackles what matters most to the sector - how to win new, profitable customers and how to maximise the value from existing customer relationships. The savings market today is incredibly competitive and Canvasse Saver from Experian provides companies with a solution to determine the best customer acquisition and management strategies.”