SegmintExpand

SegmintExpand enables financial institutions to expand their relationships with their customers by cross-selling specific products and services with the right offer to the right customer at the right time based on that customer's individual KLIs. 

SegmintExpand facilitates:

• review of the KLIs of the current customers who use the product or service that the financial institution wants to promote
• establishment of campaigns to automatically provide cross-sell offers to any customer who carries the appropriate campaign KLIs while excluding customers who already have that product or service

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 selects appropriate KLIs for this campaign including:

• Home Improver ⁽¹⁾
• Presence of Children
• Pet Lover

The Bank employee 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 employee also selects a home equity banner showing a family with a dog standing in front of a house. The employee 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 employee can sign in to 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”.