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Customer Acquisition Solutions

The success or failure of customer acquisition campaigns depends on precise, timely targeting that delivers valuable offers to prospects and keeps costs low. According to the American Banker's Association, a U.S. bank's average cost of acquiring a new customer is $3,500. While acquisition costs vary widely among financial services institutions, optimized targeting is consistently a top priority. To cut through the clutter of a competitive marketplace, industry leaders are building analytics into their acquisition processes to target the right customers with the right financial products at the right rates.

Standard Life—one of the world's leading mutual financial services companies—turned to SPSS predictive analytics to win the right customers for their new mortgage product and secured £33million (approx. US $47 million) worth of mortgage application revenue. Predictive analytics enabled the company to achieve more targeted direct mail and profile prospects visiting their Web site to personalize their Web experiences.

Acquire the right customers cost effectively with predictive analytics

SPSS customer acquisition solutions help financial services firms focus outbound and inbound marketing programs on the prospects most likely to respond and become profitable customers. Minimize your acquisition costs by using predictive analytics to focus your customer attraction strategy on winning the right customers. Predict which marketing programs will generate the highest response-before possibly investing your budget on the wrong targets.

Empower marketers to quickly analyze customer data, identify the right prospects, and build campaigns—without data analyst or IT involvement. Deploy sophisticated, easy-to-use marketing analytics to marketers throughout your organization via intuitive, Web-based interfaces. Marketing best practice templates provide all the benefits of powerful predictive analysis on demand, eliminating analytical bottlenecks. SPSS predictive analytics enhance your investment in existing customer relationship management systems—integrating seamlessly with data warehouses and key applications for customer acquisition such as those for campaign management and your call center.

SPSS customer acquisition solutions automate the entire analytical process for optimizing targeting as much as possible—making it easy for marketers to quickly identify the high value customer segments most likely to respond. Marketers interactively refine these segments, select optimal target lists, and deploy this predictive insight into front-line applications. Marketers can even combine acquisition campaigns with proactive risk management by filtering out prospects that match predetermined risk profiles.

Contact SPSS sales to learn how predictive analytics can deliver rapid return on investment for your organization.