Experian Introduces E-Mail Prescreen
Experian, Costa Mesa, CA, said credit card issuers, major banks, retailers and other credit grantors can reduce the cost and time in generating new accounts while raising response rates -- all without incurring incremental increases in underwriting risk -- by using Email Prescreen.
To use it, customers provide Experian their lists of prospect e-mail addresses and their intended online offers. After credit information about each prospect is extracted from the company's nationwide database of more than 230 million credit-active consumers, they are segmented using up to 12 levels of prescreen criteria to determine acceptable levels of risk according to each customer's wishes.
Experian then deploys the credit offer to the pre-approved prospects through the company's e-mail center. When an e-mail offer is returned without being delivered, Experian mails a printed offer to the prospect's physical address.
Experian said that contact costs, including production of a mailer and postage, are reduced versus when offers of credit are extended via regular mail.
Email Prescreen also has automatic tracking of responses, which allows up-to-the-minute availability of activity reports via a password-protected, remote-access Web response portal. Experian said there are no mail-file-to-response-file match back problems typically associated with a USPS mail campaign.
Email Prescreen also provides an increased capability to test offer points, creative elements, teaser subject lines and customer segments immediately prior to full campaign rollout, which lets users improve response rates by making real-time adjustments.