In a troubled housing market, Ace Mortgage is finding that providing relevant information to consumers is key. So the financial company has begun using data as part of its database marketing program to help make its e-mails more relevant.
In July, the mortgage company began working with database marketing firm Intellidyn to create personal profiles of its customers and send triggered e-mails to this network based on personal interest. In light of the troubled housing market, it makes sense for consumers to have as much information as possible, said Erica Prowisor, chief marketing officer at Ace Mortgage.
“Programs like this are very important for us, as it is making more of the dollars that we’ve invested,” she explains. “For consumers looking into mortgages, it is important to be cognizant of the market and what they can afford, so programs like this help them get the information to form that understanding.”
A customer is put into the system when they call in to receive information or sign up online. A customer profile is created with the kind of information that they are looking for. E-mails are triggered if something relevant to their profile comes up, whether it is a refinancing offer or a rate drop. As the customer interacts with this messaging, the customer profile continues to grow based on what they click.
“The more that we know about someone and where they are, the more specific those messages become,” Prowisor added. “The more we’ve spoken to the person and the more they’ve engaged with us, the more specific we can be with them.”
According to Peter Harvey, founder and CEO of Intellidyn, 3% of consumers that call in ask to receive more information and 4-5% of those people are converting and signing up for Ace Mortgage accounts.
“This program is about staying in front of that customer over any given period of time with relevant information at the lowest cost in a way that is personalized to the customer,” Harvey said.
