EFFECTIVE COMPLIANCE
Census Tract Marketing
Precision marketing designed to satisfy compliance requirements while maximizing marketing-spend efficiency.
Vericast enables financial institutions to support the unique financial needs of the communities they serve, through tools and guidance, to satisfy compliance and regulatory requirements, like those under the Community Reinvestment Act and related fair lending laws, all while optimizing marketing spend.
Challenges
We know the challenges that come along with meeting compliance requirements. Often, financial institutions experience marketing spend waste, have difficulty proving their compliance efforts to regulators, and struggle with finding a partner they can trust to aid in these efforts.
By partnering with Vericast, institutions are enabled to focus marketing at the census tract neighborhood level, gain access to household address files developed with regulators in mind, and rest with the peace of mind that comes from working with a partner with a deep history of financial industry experience.
Vericast enables financial institutions to:
Maximize efficiency of marketing spend with relevant offers based on local needs through direct mail and digital execution within your census tract sub-zip codes
Provide lists of addresses reached through loan and deposit offerings to your auditors and regulators
Leverage reporting to better understand new applications and deposit accounts driven by your Census Tract Marketing campaigns
How it Works
Our 5-step process manages everything from targeting through reporting
Financial institution provides census tract data to Vericast
Census tracts are typically 11 digit numbers assigned by the census bureau
Vericast ingests the financial institution’s census tracts and household addresses are determined
We identify neighborhood segments with the highest concentration of census tract households, which is more efficient than focusing on only zip code
Direct mail and digital marketing deploy to the census tract households
Address files of households in marketing area available to share with regulators
Reporting and analysis for continual improvement available to client
The Vericast Difference
The Value of Census Tract Marketing
Identify households within zip codes that fit the need
Avoid wasting marketing spend in areas that are not within census tracts.
- 60068 is the ZIP
- C1, F1, D1, B1 are our sub-zip neighborhoods
Leverage neighborhood segments
We overlay census tract data provided by the financial institution with our sub-zip neighborhood segments and identify neighborhoods with the highest concentrations of census tract addresses.
| Zip Code | Household Count | Low-Moderate Income Address Count (overlay with census tracts) | LMI Address Penetration % | |
|---|---|---|---|---|
Neighborhood | 60068 | 15,977 | 8,395 | 52.5% |
| B1 | 3,490 | 3,490 | 100.00% | |
| C1 | 4,140 | 1,015 | 24.5% | |
| F1 | 3,107 | 2,950 | 94.9% | |
| D1 | 5,240 | 940 | 17.9% |
Sample Data Shown
RESULTS
Drive Business Performance with Measurement and Reporting
Your team will receive personalized reporting, including:
- Matchback Analysis: Measure influence of media on newly acquired applications/accounts at your institution
- Results and Recommendations: Presented for ongoing program improvements
RESULTS
Inform Regulators and Auditors with Address Files
We provide a list of the census tract addresses that have received direct mail and those eligible and probabilistically matched for exposure to digital ads to verify compliance.
Sample Data
RESULTS
Optimize Results with our Real-Time Digital Media Dashboards
- Quick & direct access to daily data updates and performance tracking
- Customizable set up with interactive features
- Final campaign wrap report summarizing performance
Channels:
- Display
- Dynamic
- Mobile
- Video and OTT
Metrics:
- Expansion rate/engagement rate for dynamic mobile
- Impression delivery over time
- Impressions
- Clicks
- CTR
- CPA
- Spend
Contact Us Today
For a custom view and plan to eliminate wasteful spend and focus on the right prospects who are most likely to convert.
1-800-351-3843
9AM – 5PM, E.T.
Monday – Friday
Learn More About Census Tract