Case Study

Top Credit Provider Prioritizes Marketing Leads to Save $5M

How a top 5 SMB credit provider increased marketing effectiveness with revenue and growth data

Identified new stable 
and growing businesses

Improved their predicted spend modeling

Calculated up-front risk more accurately

Early results


Closed businesses removed from lead database


Avoided in wasted 
marketing dollars


Increase in approval rates on applicants from marketing campaigns

The Challenge

Targeting the right businesses

A top 5 credit provider to small businesses made it a 2021 priority to acquire new customers. Direct mail marketing is key to their strategy: they spend more than $25 million on campaigns each year.

The team would start with a list of more than 30 million U.S. businesses, then segment by industry and rough revenue estimates to cull the list to the 5-10 million highest-value prospects.

The team was under pressure to improve the performance of their campaigns. If they could increase the accuracy of their marketing segmentation, they'd directly impact top-line revenue.

The Solution

Prioritize leads with accurate financial health data

The team worked with Enigma to fine-tune their existing process, adding new insights on business card revenues and growth trends.

Each month, Enigma sends the team a list of several million merchants and their financial health metrics. The team matches this to their existing marketing list, appends data for existing prospects, adds new prospects, then runs prioritization models to segment the list for campaigns.

Early Results

The team:

  • Discovered 20% of businesses they were sending mail to were closed or in financial distress. Scrubbing duds from the list meant avoiding $5 million in wasted costs.
  • Added 200,000+ new high-growth businesses to their campaign lists.
  • Saw a 33% increase in approval rates on applicants from marketing campaigns using their refreshed list process.

Ready to explore what more robust small business data can mean for you?