System and method for targeting family members of transaction account product holders to receive supplementary transaction account products

Abstract

Utilization of information in a closed loop data system further augments modeling while at the same time enabling customization of offers based on spend patterns. Data mining techniques are leveraged to identify rules to determine higher response rate populations. These rules are referred to herein as “triggers,” in that the presence of particular attributes will trigger a cardholder as being more likely to respond to a particular offer. The benefit yielded by this approach is a greater acceptance rate to an offer provided by a transactional account company. To identify the triggers, records of cardmembers who already utilize a given product are analyzed to determine their spend patterns. The spend histories of customers who are eligible to use the product are analyzed according to the identified triggers. Customers whose spend patterns most closely correspond to the triggers are then targeted with offers for the given product.

What is claimed is: 
     
         1 . A method comprising:
 determining, by a marketing computer-based system, that an individual associated with an upgraded transaction account is a family member of a converted transaction account holder and that a transaction in transaction information is associated with the individual, wherein the converted transaction account holder has a pattern of spending at a merchant that is indicative of a change in lifestyle; and   targeting, by the computer-based system, marketing about a supplementary transaction account to the converted transaction account holder, in response to the determining that the transaction is associated with the individual and that the individual is a family member.   
     
     
         2 . The method of  claim 1 , further comprising grouping, by the computer-based system, the merchant into a group of merchants based on a value proposition associated with each merchant. 
     
     
         3 . The method of  claim 1 , further comprising determining, by the computer-based system, that the merchant is a potential premium merchant based on the plurality of converted transaction account holders. 
     
     
         4 . The method of  claim 3 , wherein the determining that the merchant is the potential premium merchant is further based on a determined take rate for the merchant. 
     
     
         5 . The method of  claim 1 , wherein the converted transaction account holder has converted within an interval of three months. 
     
     
         6 . The method of  claim 1 , further comprising grouping, by the computer-based system, the merchant into an industry group. 
     
     
         7 . The method of  claim 6 , wherein the industry group is at least one of: niche retail, high-end retail, fine dining, luxury travel, and leisure. 
     
     
         8 . The method of  claim 6 , further comprising identifying, by the computer-based system, an affinity of the converted transaction account holder for the merchant. 
     
     
         9 . The method of  claim 6 , further comprising deriving, by the computer-based system, a conversion rate of transaction accounts in the industry group. 
     
     
         10 . The method of  claim 1 , wherein the pattern of spending includes a trigger indicative of a change in lifestyle. 
     
     
         11 . The method of  claim 1 , further comprising identifying, by the computer-based system, recent converters having the pattern of spending. 
     
     
         12 . The method of  claim 1 , further comprising targeting, by the computer-based system, marketing about the upgraded transaction account to a potential converter in response to identifying the potential converter. 
     
     
         13 . The method of  claim 1 , further comprising matching, by the computer-based system, a last name of the converted transaction account holder to a last name of the individual in the transaction information associated with the upgraded transaction account. 
     
     
         14 . The method of  claim 1 , further comprising identifying a potential converter based upon a trigger that is at least one of:
 an increase in education records of charge;   an increase in spend in family-related industries;   an increase in every day spend;   an increase in spend on insurance; and   existence of purchases at a merchant who traditionally caters to a gender opposite that of the potential converter.   
     
     
         15 . The method of  claim 1 , further comprising identifying, by the computer-based system, changes in the pattern of spending. 
     
     
         16 . The method of  claim 1 , further comprising targeting, by the computer-based system, a potential converter with an offer to add a supplemental account to an existing account associated with a financial company. 
     
     
         17 . The method of  claim 1 , further comprising identifying, by the computer-based system, a potential converter to the upgraded transaction account based on records of a plurality of converted transaction account holders. 
     
     
         18 . An article of manufacture including a non-transitory, tangible computer readable storage medium having instructions stored thereon that, in response to execution by a marketing computer-based system, cause the computer-based system to perform operations comprising:
 determining, by the computer-based system, that an individual associated with an upgraded transaction account is a family member of a converted transaction account holder and that a transaction in transaction information is associated with the individual, wherein the converted transaction account holder has a pattern of spending at a merchant that is indicative of a change in lifestyle; and   targeting, by the computer-based system, marketing about a supplementary transaction account to the converted transaction account holder, in response to the determining that the transaction is associated with the individual and that the individual is a family member.   
     
     
         19 . The article of  claim 18 , further comprising identifying, by the computer-based system, a potential converter to the upgraded transaction account based on records of a plurality of converted transaction account holders. 
     
     
         20 . A system comprising:
 a tangible, non-transitory memory communicating with a marketing processor,   the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising:   determining, by the processor, that an individual associated with an upgraded transaction account is a family member of a converted transaction account holder and that a transaction in transaction information is associated with the individual, wherein the converted transaction account holder has a pattern of spending at a merchant that is indicative of a change in lifestyle; and   targeting, by the processor, marketing about a supplementary transaction account to the converted transaction account holder, in response to the determining that the transaction is associated with the individual and that the individual is a family member.