Nevada State Bank adopts display analytics to improve segment marketing.
Position | New Products |
Last year, Jeff Balgerhuff, CFMP, senior vice president of marketing at Nevada State Bank (assets: $3.7 billion), Las Vegas, wanted to improve the bank's marketing to several specific customer segments. The bank was doing a good job of serving the over-55 demographic, he observes, but needed to do better in reaching the generation X and Y segments.
Eventually, the bank purchased the AnySite Financial display analytics solution from MapInfo Corp., Troy, N.Y. (MapInfo was recently acquired by Pitney Bowes Inc., Stamford, Conn., and its name changed to PB MapInfo Corp.)
Bargerhuff, who is the current chairman of the ABA Marketing Network Council, says the bank was impressed that the product's add-on lifestyle segmentation program including "financial product preference" in addition to the standard demographic information such as age, income and so forth.
The company says the product can be used by banks and other financial institutions to visually analyze and display demand, competition and site data for enhanced competitive analysis and decision making.
Bargerhuff says the bank is currently using the product for prospect segmentation profiling and, at the branch level, for market demographics and product demand forecasting. In the future, he foresees using the product's lifestyle segmentation program for more direct-mail prospecting...
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