Leveraging Life Event Data to Personalize Offer

BACKGROUND
A mid-size financial services investment company wanted to understand if certain life events are key triggers to the purchase of investments.

CHALLENGE
The financial services company was selecting campaign targets based on limited demographics such as age, income and geography. Campaigns were performing within industry standards, however they wanted to look for ways to increase response rate.

APPROACH
Our client agreed to partner with Allant to look at previous campaign response data to understand if life events were influencing consumer investment purchases decisions.

Allant performed a data hygiene and analysis of their most recent campaign responses including the appending of the life event data such as newly married, new parent, newly retired and new college graduate.

Allant identified that certain life event triggers had a correlation to the purchase of investments offered. Allant leveraged the identified life event data to select the next campaign.

Based on the life event associated with the financial services prospect, our client was able to not only target the prospect in a timely manner, but was also able to deliver a more personalized offer with relevant graphics and content.