Resident Insight is a powerful tool that enables you to create financial and psychographic profiles of the residents in your communities. With this information, your organization can gain a deeper understanding of who your residents are, what they prefer, and how they spend their money, via Experian's Mosaic USA® market segmentation.
Experian separates Americans 15 years and older into 71 customer types based on demographics, socioeconomics, location, financial measures, and property characteristics. Experian uses more than 300 data points to build their Mosaic USA® dataset and each of the 71 types can be differentiated based on the chart below.
The Residents button on your sidebar will navigate to the Resident Insight menu. Resident Insight subscribers are offered a secure connection to upload rent roll(s) to Experian by the 15th of each month. Data is typically returned by the end of the month, and can be viewed by clicking Access Resident Insight.
What Data is Included?
Resident Insight provides aggregated, deidentified information on:
Household Income
Net Worth
Net Assets
Investment Assets
Household Deposits
Mortgage Balance
Equity Balance
Checking Account Balance
Savings Account Balance
Securities
Mosaic USA® Customer Segment
How Can I Use This Data?
The financial and psychographic data can help you:
Identify Success Drivers: Understand which resident profiles contribute to a building’s success or struggles. If a project is underperforming, analyze the resident profiles to refine marketing strategies and attract different profiles. If a project is thriving, use that resident profile as a benchmark for other properties.
Improve Future Projects: Incorporate the financial profiles of successful residents as search criteria in your analyses for future developments.
What Information is Required to Use Resident Insight?
To generate resident profiles, you need to provide the following resident-specific information:
Full Name
Date of Birth
Move-in Date
Apartment/Room Number
Additionally, you will need to provide details about the community, including the community address. If you choose to include POA/Next of Kin in the process, you will also need to provide their full name and address information.
For a complete list of instructions and a sample submission, please see the article linked here.
How is Sensitive Information Protected?
We have implemented a HIPAA-compliant process to ensure all resident information is protected and encrypted. Our procedures strictly limit access to authorized personnel only. Team members working with this data undergo HIPAA compliance training and understand the importance of maintaining data security and confidentiality.
What Does It Cost?
For information on pricing and the setup process, please contact us via email at support@nicmap.com or message us through Intercom.