23rd July 2015

Equifax Investor Profiles: Responsible equity release case study

"Using Equifax Investor Profiles allows us to focus on the customer groups who have the greatest need for our advice and service, resulting in a near three-fold improvement in response rates for a recent marketing campaign."

Responsible Equity Release is a leading provider of Equity Release advice to UK consumers.

Responsible Equity Release is a leading advisor in this important and growing market. They have helped over 250,0000 people decide if equity release is right for them.

Like many organisations they wanted better insight into their customer base to improve marketing effectiveness, provide better customer management to enhance their customer experience, and increase bottom line profit.

Having carried out various marketing activities in the past, Responsible Equity Release took the opportuntity to use Equfax Investor Profiles to profile a forthcoming direct marketing campaign.

Equifax Investor Profiels combines information about life stage, household composition, affluence and investment behaviour to create 12 macro- and 59 micro-segments of people with similar characteristics.

Equifax’s analysis of the Equity Release market showed that people in the top 10 micro-segments were nearly 15 times as likely as those in the bottom 10 to undertake Equity Release.

By focusing on the prospects most likely to respond, Responsible Equity Release hoped to improve the marketing response rate which was 0.1% historically.

The mailing

Responsible Equity Release contacted 10,000 prospects, and achieved a response rate of 0.29%, which is nearly three times the response rate that had been achieved on previous, unprofiled mailings.

Steve Wilkie, Managing Director, commented “At Responsible Equity Release we invest heavily in ensuring we educate and inform the right customers about the benefits of using their property as part of their retirement planning. Using Equifax Inestor Profiles allows us to focus on the customer groups who have the greatest need for our advice and service.”

Andy Marson, Product Leader at Equifax added “it has been great working with Responsible Equity Release to demonstrate the uplift that Eqiufax Investor Profiles can bring. The near three-fold improvement in the response rate achieved following profiling shows how powerful this unique product can be.”

To find out more about how Equifax Investor Profiles can help you better understand the wealth and advice needs of your clients enquire here.

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