To produce each profile, the Reach platform builds hundreds of predictive models behind the scenes and algorithmically regresses to the best fitting model, in minutes. Real-time profiling means, marketers can use the platform to rapidly build consumer profiles based on their segmentation strategy of choice—per product line, per geography (zip, state or region), per channel, per store, or per purchase type (online versus offline; high avg. purchase), etc. The platform produces the consumer and ideal prospect profile and instantly makes prospect information available for download, based on the results.
For example, Middlesex Federal Savings, F.A., a full-service community bank with more than 125 years in business and its headquarters in eastern Massachusetts, is the latest to join other brands engaging Reach's predictive marketing platform. In the wake of a scandal involving a major big bank, whose new account openings are plunging, Middlesex Federal is using Reach Analytics to help them improve their ability to target prospects that may be considering switching from a big bank environment.
Middlesex Federal was able to use Reach to build predictive profiles of customers and gain access to 20,000 targeted checking and mortgage prospects.
Using the predictive platform, Middlesex Federal easily identifies bank prospects by age who are most likely to become checking account customers and target those customers by relevant geographies. They can also more easily identify mortgage prospects based upon existing or potential home ownership and location.
"Reach is pioneering a new kind of predictive marketing that vastly improves how brands can tap into instant data analytics and list acquisition," said Linda Dinkel, Vice President of Marketing at Middlesex Federal. "We started working with Reach during the early development phase of the cloud product, providing feedback on early data layouts and are very excited to improve our ability and efficiency in acquiring new customers."
Middlesex Federal and other businesses have chosen Reach's predictive technology to gain the power to analyze hundreds of variables and characteristics that enable them to gain a true, dynamic view of consumers - and uncover their best prospects.
"Banks above all need to really know their customers and their prospects. It's a commitment to excellence and to the communities they serve," said Ben Barenholtz, VP Marketing at Reach Analytics. "Our focus is on helping them better understand and serve the needs of their current customers and find more like-minded customers who will love their bank."
Sign up for a free trial to try it for yourself.
About Reach Analytics
Reach Analytics provides automated predictive solutions for brands - powering customer acquisition and marketing programs, across all major consumer industries. The Reach Analytics Predictive Cloud enables marketers to develop a deeper understanding of their customers and accurately discover and reach their best prospects. With market-leading modeling and data analysis, Reach Analytics supports growth and creates profitable business results for customers. Find out more at www.reachanalytics.com.
Logo - http://photos.prnewswire.com/prnh/20161109/437521LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/reach-analytics-recognizes-growing-list-of-brands-identifying-and-targeting-prospective-customers-with-automated-cloud-based-predictive-marketing-300375747.html
SOURCE Reach Analytics