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New tool helps marketers find out where the rich people live New
income prediction tool offers financial services organisations and marketers fresh insight into suburban income and wealth distributions.
South African marketing insights company, Knowledge Factory, has announced the release of IncomePlus*, a geo-demographic segmentation tool that enables the analysis of household income at the suburb level. Another recent addition to the company> '> s popular Plus* product suite, is IncomePlus* which provides marketing strategists with fresh insight into suburban income and wealth distributions.
This is an excellent tool for financial services and lending
institutions,> "> observes Geraldine Mitchley, Business Development
Executive at Knowledge Factory, > "> since it offers an additional,
efficient way of quickly profiling prospects as well as existing
customersand adds an extra level of sophistication to the overall
decision making process.
IncomePlus* combines the results of the SAARF All Media and Products Survey (AMPS) with Census data and geo-demographic information from Knowledge Factory> '> s other products to accurately predict the likely distribution of household incomes within a particular suburb. > "> Essentially, IncomePlus* puts households into income categories and works out how many households within a suburb are likely to fall into each category,> "> explains Mitchley.
There are ten income categories and the divisions become smaller as the income value rises. The diminishing income category sizes revealing increasing amounts of detail and subtle income distinctions in the wealthier suburbs. > "> This feature is particularly useful for businesses engaged in customer acquisition drives that need to locate prospects with qualified incomes,> "> notes Mitchley.
About Knowledge Factory
> Knowledge Factory is a business performance enhancer, a division of
> the Primedia group. It is a > '> marketing insights> '> company that
> focuses on revenue generation and helps its clients understand their
> customers, markets and channels better to leverage and enhance
> business performance. Its goal is simple and direct: to help
> organisations sell more products and services, to more people, more
> effectively. A cornerstone of the company> '> s approach to providing
> these revenue-boosting insights is the use of deep analytics.
> Leveraging off its superior spatial and statistical analytical skills
> and its range of exclusive, market-related datasets, Knowledge Factory
> is uniquely able help organisations better understand, anticipate and
> react to consumer behaviour in order to maximise top line revenue.
> Knowledge Factory> '> s diverse personnel of statisticians,
> physicists, architects, marketers and engineers have provided insights
> and knowledge to numerous companies in varied industries since 1993.
> For more information visit http://www.knowledgefactory.co.za>
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