A pair of automated service providers said Monday they are partnering to provide more granular household-level borrower data within ethnic demographics.
Geoscape, a Miami based provider of online geo-demographic information, analytics and research and 40-year veteran of marketing data management, Acxiom of Little Rock, Ark., are partnering in the venture.
The 2010 U.S. Census showed dramatic cultural shifts lenders and servicers need to review so they can adapt to these changes, says Louis Rolleigh, a director at Acxiom. The integrated platform was designed to allow lenders and servicers to access more granular information on today’s increasingly diverse marketplace.
The integrated platform helps users to better understand consumer demographics and buying behaviors, they can use to conduct market analysis, plan customer acquisition strategies, and create more narrowly defined marketing campaigns.
Analytical criteria includes demographic, “lifestyle” and cultural attributes accessible through the integrated platform that allows Geoscape Intelligence System users to access Acxiom’s Personicx database of individual and household-level information including visual records provided by Acxiom’s InfoBase data tool.
The goal of the partnership according to Geoscape’s vice president of sales, Arthur Rockwell, is to enable users of the Personicx segmentation and the Geoscape platform to achieve what he calls micro-targeting within minutes.
Data is segmented using maps, graphs, tabular reports and direct marketing lists lenders and servicers can use when making marketing decisions. When targeting the Hispanic market, for example, users can combine data and analytics to plan communications, marketing brand strategy, and product distribution.
Personicx classifies ethnic households based not only on age differences but also different stages of life in the United States and related changes in purchasing behaviors. It monitors “raw data about customers” to identify differences in U.S. households’ time and money spending.
Geoscape defines America’s Hispanic population, for example, into five distinct segments based on their different cultural practices, language preference, years of residency in the country and other criteria users choose to consider. Distinct attitudes, media and buying behavior can be tied to each of these segments.
For example, the “Nueva Latina” segment includes English-preferred adults who were born in the U.S. but retain certain of their ancestors’ cultural practices. Another category consists of Spanish-speaking adults who immigrated to the U.S. as adults have been in the country for over 10 years but speak limited English and remain primarily Hispanic in their cultural practices. These borrowers are considered part of the “Hispano” segment.
