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Kevin Dean, president and general manager of Targeting for Experian sat down with Ginger Conlon, editor-in-chief of GingerConlon.com at DMA’s &THEN 2016 Conference. The two discussed a number of topics, including the re-emergence of third-party data for marketers. As the industry has turned towards data-driven marketing, more brands are again leveraging third-party data to enhance their first-party data, as well as pull insights that enables them to better connect with their customers. To read more from the interview, visit GingerConlon.com.

  Temperatures are dropping, leaves are falling and seasonal beverages are selling – it must mean that the holiday season is quickly approaching. And while many people get to wait in anticipation for this magical time of year, marketers are hard at work planning and creating their upcoming holiday marketing campaigns. In fact, many marketers are likely focused on developing their most creative designs and strategic promotions – critical components to any campaign. But they also need to give attention to their subscriber lists. A recent study found that as much as 50 percent of lists are inactive. If audiences are not engaging with the brand’s communications, then brands may experience diminished returns, or worse. Why reactivate? The bottom line is that it is more cost effective for marketers to retain existing customers than to acquire new ones. Past buyers represent higher open, click and transaction rates than non-buyers. By reactivating their inactive subscriber base, marketers have an opportunity to improve the return on each marketing campaign. How to reactivate? Email addresses may appear inactive for a number of reasons. The email address may no longer be in use, the subscriber does not find the content relevant, or the subscriber prefers to scan unopened emails and purchase in other channels. Marketers need to understand the cause behind each inactive address in order to strategically re-engage with past customers. Once marketers are able to identify all of their inactive subscribers, they will want to segment them into buckets. For example, those that clicked but have not purchased in the past 90 days, or those that have opened emails, but not clicked or purchased in the past 90 days. Each person is unique in their behaviors and interests, so marketers will need to engage these subscribers in a variety of tactics. Offering an incentive Using an engaging subject line Utilizing a confirmed opt-in strategy Sending more than one message as part of a reactivation strategy Marketers who strategically reactivate their inactive subscriber base have an opportunity to bring past-customers back into their sales funnel, and experience more return on their marketing campaigns. By leveraging data and insight to identify and re-engage this group, brands and marketers can also have a magical holiday season. To learn more about re-engaging your inactive email subscribers, download our e-book.  

This feature article from DMN profiles Emad Georgy, Chief Technology Officer for Experian Marketing Services, as well as his team’s approach to data and predictive analytics. According to the article, “The other drive for Georgy’s commitment to data analytics has been interactions with clients … Data can help brands ‘uniquely understand customer behavior. At Experian, with all of our expertise, we can play a role in getting data to a position where it’s actionable.’” Click here to read the full article.

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Patients use self-service tools to easily connect with providers online and manage administrative tasks 24/7. Common patient self-service tools include patient portals, online scheduling and mobile registration. Self-service solutions also include robust financial tools that help patients update insurance information, get accurate estimates, apply for charity care, set up payment plans, combine payments to multiple providers or set up a fundraising page.   Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of “de Finibus Bonorum et Malorum” (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, “Lorem ipsum dolor sit amet..”, comes from a line in section 1.10.32. Heading 2 Related Posts

Amid some of the financial challenges that underserved communities experience, members across the financial services community remain committed to championing initiatives and programs that drive greater financial inclusion. In fact, collaboration has led to the inclusion of non-debt related payment information on consumers’ credit profiles, as well as digital services that make it easier to manage money. These efforts have helped to broaden access to fair and affordable financial resources for more individuals. While significant progress has been made, there is still more work to do. However, some of the misconceptions and myths about the financial services community are hindering further advancement. Debunking these myths will accelerate progress by building trust between the financial services community and consumers. Person withdrawing money from ATM contactless Myth #1: “Financial institutions have no interest in underserved consumers or credit invisibles.” The truth is, banks and credit unions want to say “yes” to more prospective borrowers, including individuals and families from underserved communities. Beyond being the right thing to do, it’s an opportunity to potentially build lifelong relationships with a relatively untapped market. A show of good faith to communities who have largely been ignored by the financial system could lead to customer loyalty that may extend to their family and friends. That’s why participants across the financial ecosystem have been proponents of including expanded data sources—such as on-time telecom, utility and video streaming service payments—on to consumer credit reports, as well as exploring other Fair Credit Reporting Act (FCRA)-regulated data sources, including payment data on short-term small dollar loans and expanded public records data. Making this data more accessible to lenders provides a more comprehensive view of a consumer’s ability and willingness to repay outstanding debt—an actionable solution to extending credit to consumers without lenders taking on additional risk. Myth #2: “There is a lack of trustworthy financial education resources.” The financial services community and affiliated organizations recognize that empowering people with financial knowledge and skillset are critical to consumers’ financial success. In fact, banks and credit unions are partnering with nonprofits and non-governmental organizations to better understand the unique challenges and opportunities within specific communities and provide relevant tools and resources. For example, Experian’s B.A.L.L. for Life (Be A Legacy Leader) program, launched in partnership with the National Urban League, serves as a catalyst for engaging with Black communities and low-income youth through live events and digital financial education. Subject matter experts, professional athletes, celebrities, and other influencers share their experiences and expertise, covering topics such as banking, credit, financial management and investing. In addition, to help people improve their financial management, Experian partners with the National Foundation for Credit Counseling (NFCC). The NFCC connects consumers with certified financial counselors to help them address various pain points, including debt management, homeownership, student loans or small business cash flow issues. Myth #3: “Underserved communities have few opportunities to build credit and enter the mainstream financial system.” People from underserved communities, as well as younger consumers and recent immigrants are often excluded from the mainstream financial system because they lack an extensive credit history. Historically, it’s created a vicious cycle; in order to get credit, you have to have credit. Fortunately, there has been a sea change in innovative solutions to address the specific needs of these populations. These include new credit scoring models and microfinancing which provide financial services to individuals who may have been excluded from traditional banking systems. In addition, by incorporating expanded data sources, such as telecom, utility and residential rental payments onto credit reports, lenders have more visibility into consumers who may have been excluded by traditional credit scoring methods.These programs help individuals and families from underserved communities establish and build a credit history that could enable loans, or the ability to rent an apartment or open their dream business. An example is Experian Boost®, a free feature that allows Experian members to contribute their history of making utility, cellphone, insurance, residential rent and video streaming service payments directly into their Experian credit profile. By incorporating nontraditional credit data like paying utility bills on time, online banking transactions, rental payments and verified income data, more people can establish a credit profile that can potentially qualify them for a loan. More Inclusion, Fewer Myths It’s encouraging that community organizations and banks are beginning to see the economic and social benefits of aligning on financial literacy and inclusion. As more initiatives come online, underserved populations will be able to establish a better financial foundation. Then, we can declare the myths to be history.