Prepaid Debit Card Provider by ebureau


Reduces Customer Acquisition Costs up to 50% While Doubling Conversion Rates

More Info
									                                                                           S U C C E S S                S T O R Y

Prepaid Debit Card Provider
Reduces Customer Acquisition Costs up to 50% While Doubling
Conversion Rates

Customer Overview
    A top 10 prepaid debit card provider and market leader in the general purpose re-loadable (GPR) category.

    Trusted brand in providing alternative banking solutions to the over 60 million people living in the U.S. who
    have turned away from banks due to banking/credit issues.

    Client objective: Invest online advertising and direct mail expenditures at only those prospects most likely
    to not only open and fund a prepaid account, but also use direct deposit.

Challenge                                                    eBureau Solution
To generate new customers, this client purchased             eBureau developed a two-pronged approach using its
a large monthly volume of consumer leads and lists           predictive modeling platform to improve marketing ROI.
from numerous third-party lead generation companies,         Two custom “eScore” models were developed for
augmenting its own in-house consumer direct marketing        the client:
campaigns. With each new lead acquired, a new account
                                                             1. Online Lead Quality Score: Allowed the client to
ful llment package (containing the prepaid card and
                                                                measure the quality of every lead offered by third
account terms) was sent to the consumer. Mailing costs
                                                                party lead providers, enabling the client to be more
to send these packages quickly added up, and the
                                                                selective in which individual leads they would buy.
overall mail response rate resulted in an unacceptably
high acquisition cost per-new-customer. This client
                                                             2. Direct Mail Conversion Score: Predicted which
needed a better way of determining which leads were
                                                                individual consumers (across various direct channels,
most likely to become pro table customers, but had
                                                                including purchased lists) were more likely to fund a
no precise method of determining lead quality before
                                                                new account and also were most likely to use direct
working with eBureau.
                                                                deposit (an important total lifetime value indicator).

1        Source: FDIC, 2009

                                                                                      S U C C E S S               S T O R Y
Prepaid Debit Card Provider

eBureau eScores solution identify the leads that               The Result
will generate acceptable amounts of revenue per
funded card:                                                   With eBureau’s predictive scoring solution, this prepaid debit
                                                               card provider could now reliably assess each lead individually,
                                                               optimizing Cost-Per-Lead online advertising costs and direct
                          Revenue Per                          mail ful llment strategies. The client was able to reduce their
   eScore Range
                          Funded Card                          overall customer acquisition costs by as much as 50% and
                                                               implement pro table strategies for growing their customer base
      951 - 998               $213
                                                               through the following tactics:
      900 - 950                165                 Highly
      851 - 899                159                Profitable        Avoided purchasing low scoring leads that will
      800 - 850                136                                 not convert
      751 - 799                129
                                                                   Mailed new account ful llment packages to high scoring
      700 - 750                125
                                                 Acceptable        consumers, reducing mailing costs by one-third
      651 - 699                112
      601 - 650                102                             As a result, the client experienced a doubling in average
      550 - 600                85                              conversion rates.
      501 - 549                74
      451 - 500                64                              About eBureau
      400 - 450                61
      351 - 399                61                              eBureau provides a powerful suite of predictive analytics
      300 - 350                59                              and real-time information solutions to help consumer-facing
      251 - 299                57                Unprofitable   businesses nd their next customer. Supported by a robust
      200 - 250                50                              data mining platform that aggregates massive amounts of
      150 - 199                44                              consumer data, eBureau helps performance marketers and
      100 - 149                37                              digital advertisers improve the pro tability of their new customer
       51 - 99                 42                              acquisition efforts. Clients span numerous industries and rely on
        0 - 50                 14                              our Audience Targeting, Lead Quality Scoring, Contact Center
                                                               Optimization and Risk Management solutions to make instant,
                                                               data-driven business decisions and most effectively deliver
                                                               relevant marketing messages.

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