Chapter 15: Data-driven Marketing (DDM) CMS
IN THIS LESSON
Acquisition Triggers: (most common)- A prescreen product. The consumer must meet eligibility credit criteria AND have an inquiry for that type of product in the last 24 hours. This is FCRA-regulated, and an offer of credit must be extended.
Example- mortgage triggers. The consumer is only delivered to the lender IF they have decent credit AND have applied for a mortgage elsewhere.
Retention Triggers: The lender is trying to keep the business they already have. No offer of credit is required, so no criteria other than a recent mortgage inquiry is considered.
Example- mortgage retention. The customer provides us with those consumers who they currently hold in their mortgage portfolio. We monitor those consumers, and if they apply for a mortgage elsewhere, we let the lender know so the lender can determine if they can reach out and try to keep that consumer’s business.
Target Point Triggers: This is event triggered. Did the customer open a new tradeline? Is their current auto lease coming due? The lender sets the “events,” and we then alert them if they occur. Note: TargetPoint triggers are more often used in advertising.
Example- A consumer just bought a new home and took out a mortgage. They may be in the market for furniture!
