EuroDirect launches CAMEO for financial services marketing

by Gill Montia

Story link: EuroDirect launches CAMEO for financial services marketing

EuroDirect, the direct marketing group, has launched CAMEO, a new type of segmentation system developed specifically for financial service providers.

CAMEO has the ability to assess the personal finance characteristics of customers and enable banks and other financial institutions to improve their marketing operations.

The classification system comprises five distinct segmentations, which have been built to assess consumers at a number of levels, including: personal savings, investment activity, channel preference (i.e. preference for online, branch, phone activity etc), credit behaviour and attitudes to personal finance.

CAMEO uses data from the Ipsos MORI Financial Services Panel together with EuroDirect’s Data Exchange universe.

It does not incorporate demographics or wealth measures but concentrates solely on an individual’s financial product usage and attitudes.

For example, the Personal Savings segmentation categorises consumers by their saving activity and comprises five key segments, from “A - Sophisticated Savers” through to “E – Seldom Savers”.

It covers the full range of savings products, from bank and building society accounts, through to tax free schemes, endowments and current account savings.

Leanne Douglas, Head of Product Management at EuroDirect comments: “By focusing these segmentations at individual level we are able to provide detailed insight to our clients.”

She believes that CAMEO “can benefit the full spectrum of financial providers in their customer retention, cross-sell and acquisitions strategies”.