KidsFutures turns to smart mapping for growth
The Canadian microinvestment-based educational savings programme KidsFutures has begun using geographic mapping software and services to enhance its marketing efforts, including how it targets new members and retail partners.
According to KidsFutures, having the kind of insight into the programme's target demographic groups enables the company to make more intelligent marketing decisions while also saving time and money. Dave Lacey, president for KidsFutures Inc., explained that the mapping software, provided by MapInfo Corporation, has meant being able to secure more partnership deals more quickly.
KidsFutures, which currently claims more than 320,000 members and more than 1,400 partner locations throughout Canada, provides a purchase rewards programme through which members earn rebates from retail partner companies that are put toward an education savings plan.
Demographic tools KidsFutures originally turned to MapInfo to help attract new members and establish new retail partnerships. Using the MapInfo PSYTE Canada Advantage neighbourhood clustering system and the MapInfo TargetPro product for location analysis, the company is now able to show potential retail partners exactly how well its target demographic groups complement and overlap with the retailer's own.
For example, the programme used MapInfo to grow its grocery segment in Canada: the PSYTE clustering software allowed KidsFutures to communicate the alignment between its members and grocers' shoppers, contributing to a 164% increase in grocery partner locations since late 2005. Similarly, the company used MapInfo to help grow its financial services offerings by gaining a more accurate understanding of its members and their financial habits, which has contributed to the doubling of assets under administration in 2006.