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Universe Expansion: Growth strategies for today's consumer market
View our webinar and learn how to redefine your credit marketing strategy to target a wider range of new prospects.
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Expand your marketable universe
Credit marketers who evaluate the right data assets to supplement targeting efforts will emerge quickly over the next 18 months as leaders in portfolio growth. The key is getting the right product to the right consumer at the most appropriate time.
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Expanding Your Marketable Universe
It's Time to Focus on Growth Again
Credit marketing emerged out of the pause most lenders imposed on growth in 2010 – with several marketers testing strategies on how to grow in the new consumer landscape – most focused on marketing to the least risky borrowers. In 2011, many credit marketers implemented learnings from those tests to drive today’s growth.
As the industry looks to drive further portfolio growth, the focus is now shifting to Universe Expansion – how to grow your portfolios confidently outside of the safest bets. Many lenders are looking for ways to redefine long-standing policies and uncover ways to identify the right prospects within a consumer segment that looks different than it ever has before.
New Data Assets and Analytics to Identify Profitable Populations
Many credit marketers are moving beyond familiar marketing strategies and evaluating opportunities within slightly riskier populations and through new communication channels. From testing lower-scoring segments to identifying unbanked/underbanked consumers to delivering credit-screened offers online, the breadth of methods that lenders are using to acquire new accounts has expanded.
Results Achieved With New Portfolio Growth Strategies
Experian® can help you identify best practices for growth and develop customized strategies that best suit your acquisition objectives, including:
- Near prime marketing - Strategically marketing up and down the risk scale confidently
- Channel Expansion - Use of prequalification tools to optimize new account acquisitions online
- New Entrants - Use hot lists to supplement direct marketing campaigns
- Radical Processing - Develop strategies using propensity models to drive faster, more targeted campaigns
Featured Universe Expansion Services and Tools
Experian has the expertise to help you achieve desired results.
- Prequalification - Provide customers with a variety of credit options in real time at the point of contact without extending a firm offer of credit.
- Instant Prescreen - Immediately extend preapproved offers of credit to prospects when they’re most responsive — at the point of contact -- with this quick and easy cross-selling tool.
Would you like to learn about the full suite of Universe Expansion services and tools?