ADVANCED POSTCODE PROFILES GIVE IMPROVED CONSUMER TARGETING WITH EQUIFAX GEO RISK NAVIGATOR
Equifax launches the most powerful postcode level data delivery tool
London 26th October 2005 – Equifax plc has launched Geo Risk Navigator, the latest powerful tool from its Marketing Services business to give consumer marketers an even greater ability to target the right prospects for credit and other financial services offers. Utilising Equifax’s market-leading financial data and risk expertise, Geo Risk Navigator can predict an individual's credit risk based on the profile of their postcode area, enabling marketers to identify the most responsive customer segments, as well as prospects that pose the greatest credit risk.
Dave Webber, Equifax Marketing Services Product Manager comments, “Geo Risk Navigator is an immensely powerful tool for consumer financial services marketers, plus those in the telecoms and mail order sectors. The challenge is to focus campaigns on the most responsive segments, and Geo Risk Navigator allows companies to identify these groups in prospect lists, with an almost 100% match rate. Geo Risk Navigator can also complement and enhance individual level data, with pre-launch trials showing that it outperforms other postcode level solutions and competes effectively with individual level scoring tools.”
Geo Risk Navigator gives marketers unrivalled access to postcode level data on almost all of the 1.6 million postcodes in the UK. From creating geographic data profiles and customer segmentation to pre-screening and targeting, Geo Risk Navigator can be used for a wide range of marketing purposes that involve leveraging postcode level data that does not include shared data. It can also be used for location analysis and postcode ranking models, as well as providing a powerful risk/response discriminator for door drop models.
Designed to help businesses assess risk for more effective customer acquisition campaigns, the Geo Risk Navigator profile is based on Equifax’s comprehensive credit information sources. This is augmented with census data, including socio-economic, age, wealth, household composition, car and property ownership information. All data is aggregated to postcode level and modelled to predict individual behaviour to ensure accurate targeting and the highest quality risk assessment. The result is the creation and application of a score for each of the 1.67m postcodes in the UK, from 1 (highest risk) to 200 (the lowest risk).
Webber continues, “Geo Risk Navigator will be updated quarterly ensuring it remains current and relevant, unlike many other risk-based postcode tools. And marketers will have the confidence to launch strong financial services acquisition campaigns because of the quality of data on which it is based. Utilising the comprehensive bureau data sources that are used to produce Equifax’s market leading Risk Navigator credit score, the data is highly indicative. In addition, its aggregated nature means that it can be used for a large number of purposes where individual level data cannot be used.
“We believe this is a big step forward in helping marketers to run more effective campaigns and develop more profitable business as a result.”
