However, the ability to identify individuals before they move house when they are making key decisions about financial products such as mortgages, insurance and home loans, has always been a problem for direct marketers.
Now, for the first time, businesses can access this vital information through Equifax’s new Pre-Mover services.
Equifax’s Pre-Mover services utilises a unique data supply contracted exclusively to Equifax through For Sale Sign Analysis Limited. As the name suggests, the data is based on ‘For Sale’ or ‘Sold’ signs placed outside houses on the market. By using this data in conjunction with a business’ customer database, Equifax can identify any existing customers who are about move. This information enables businesses to implement customer retention activity early in the house selling or buying process. This is particularly crucial for the mortgage and insurance markets where between 40 and 60 percent of consumers change their mortgage or insurance provider before they move.
Furthermore, through Equifax’s extensive marketing database, DimensionsTM, the name of the house mover can be appended to the address data to facilitate highly responsive acquisition campaigns. The information can also be used to identify which of these movers is likely to switch suppliers thereby enhancing an already valuable data source.
Graham Arrowsmith, Market Development Director, Equifax Marketing Services says: “Moving home is a life event that sees a extremely high churn of financial products such as mortgages, insurance and loans. At the same time, it provides many service and product suppliers with a unique opportunity to retain and acquire customers. Equifax can integrate its pre-mover data directly with a business’ information to dramatically increase the success rate of their retention and acquisition strategies. Pre-Movers is an exciting and unique service that provides a highly responsive level of data. Equifax is committed to developing new products and services that respond to the changing needs of the marketplace. I am confident that these new service will quickly become a invaluable tool for marketers in the struggle to win new customers and retain existing ones.”
