SegmintCRM
SegmintCRM enables financial institutions to cross-sell specific products and establish life-moment criteria for each of its customers using a simple three-step process:
- Review the KLIs of current high value customers who use the product that the financial institution wants to promote.
- Have the Segmint system pull the list of anonymous customer ID numbers who share the KLIs of the high value customers identified in bullet 1, but do not use the product the bank wants to promote.
- Use the Segmint web interface to place banner ads for the bank product on selected customers’ online banking web pages with customized marketing messages tied to these KLIs.
An example:
The bank’s dilemma:
Bank A wants to promote home equity loans to customers who will use the loan in a specified way (i.e.: use the line for home improvements and carry a balance but don’t use the whole line).
Segmint’s solution:
Bank A runs a report on their legacy system creating a list of their current highest value home equity loan customers. The Bank marketing manager loads the list (containing anonymous customer ID numbers) into the Segmint system and the system determines that the most common KLIs in that customer group include:
- Home Improver (1)
- Presence of Children
- Pet Lover
The Bank marketing manager then sets up a campaign within Segmint targeting current customers who do not have a home equity loan or line but do have the three identified KLIs. The marketing manager also selects a home equity banner showing a family with a dog standing in front of a house and runs the campaign. The marketing manager also runs two other versions of the campaign, one with Home Improver and Children and one with Home Improver and Pet Lover. After one week, the marketing manager can sign into Segmint and review the click results of the three campaigns to learn which is the most effective.
(1) Here is an example of how a customer might end up in the Home Improver KLI category: “Joe Smith”, a Bank A customer, usually goes to his local home improvement store once or twice a month. Suddenly, Joe starts shopping there twice a week and making larger purchases. Within a matter of days, Joe makes a $2,200 purchase at the appliance retailer and a $1,500 purchase a cabinet store. Segmint would flag a home improvement project underway for Joe, and classify him as a “Home Improver”.