• April 15, 2019

Claritas Launches P$ycle Premier Segmentation Tool for Financial Services

Claritas, a marketing technology firm, has launched P$ycle Premier, a new version of its segmentation tool for the financial services industry. P$ycle Premier allows more accurate, privacy-complaint targeting of potential customers across 60 consumer segments using enhanced big data sets.

P$ycle Premier takes the household demographic and behavioral data on which the original P$ycle model was built and enhances it with big data insights that embrace more accurate correlations to net worth. The key big data insights center around home value, property characteristics, and technology usage and behaviors.

The Claritas Income Producing Asset Indicator data set previously ended at $2 million and greater. With P$ycle Premier, it is now extended to $3 million.

By tapping data from 95 million households and 400 million devices, P$ycle Premier's technology model helps marketers understand hundreds of technology-related behaviors, including use of certain devices for specific tasks and the precise activities by household across various devices and channels.

"Within our 60 segments, we've further defined three lifestage classes and 12 lifestage groups that truly allow our clients to know what products or messages will resonate with each customer," said David Huffman, senior vice president of products at Claritas, in a statement.

P$ycle Premier Lifestage group classifications, based on affluence and a combination of householder age and household composition, provide a different and broader view of P$ycle Premier segments.

Webster First, a regional full-service bank in Massachusetts, is already using P$ycle Premier to refine its marketing strategy, ad buys, and creative.

"P$ycle has been transformative for us. The level of precision P$ycle has provided has allowed us to adjust the way we buy and place paid media," said John Cournoyer, vice president of marketing and communications at Webster First, in a statement. "It has also given us a more intimate understanding of where prospective customers spend their time (what TV or print they look at and what devices they view information on), and it helps us reach them in relevant ways with the right message at the right time via the right channel. Even more impressive is that P$ycle Premier is helping us to crystalize our market position in order to effectively deliver our point of difference and further personalize and optimize our communications to existing and prospective customers."

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