Finding Creditworthy Customers

In today’s marketplace it is crucial for lenders to strategically target creditworthy consumer segments for lending opportunities. Using VantageScore segmentation and insights from AudienceView, we can look at the online behaviors of those with the highest credit worthiness and very low risk (VantageScore A) and how they compare against the online population.

Sites that are effectively receiving more traffic from Vantage Score A users are Discover, American Express and Fidelity Investments, as they have a higher propensity to visit these sites than the online population. Chase Banking stands out in attracting consumers with the highest credit worthiness when compared against the overall online population.  Common commercial bank sites such as SunTrust, TD and Capital One are  more likely to be visited by the online population than the VantageScore A consumers.

AudienceView Banks and Financial Website visits July 2012

Source: Experian AudienceView

The top search terms of VantageScore A consumers that drive traffic to the Banks & Financial Institutions  are very different than the general population. The top search term ‘mortgage calculator’ received the highest share of clicks bringing these consumers to banking sites during the 12 weeks ending July 14, 2012. They are also searching for custom ‘log in’ pages. Banks and financial institutions may want to consider in enhancing their site with this feature in order to attract more high credit consumers.

AudienceView Banks and Financial Search Terms

Source: Experian AudienceView

When trended over time, the term ‘mortgage calculator’ reveals more search volume from May – June this year.  With recent news that fixed U.S. mortgage rates fell to new record lows – VantageScore A consumers are seeking out information with potential interest in refinancing or may be prospective home buyers.

AudienceView Search Term Trend July 2012
Source: Experian AudienceView

The key for success is to offer relevant products, outstanding service and timely marketing messages to generate qualified response to offers. Using precise segment insights, lenders can intelligently and effectively target eligible and profitable consumers for acquisition and existing account management strategies.

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