Use your existing data to predict your future customers
Data
for the sake of data is no good at all. If it’s not analyzed and
learned from, it might as well not exist. That’s why we at AGR put so
much stress on our analytic capabilities.
Using
a client’s existing database, AGR can create a customer profile and
apply predictive and segmentation models to improve email performance
in a variety of ways, including:
- Customer acquisition
- Customer growth
- Customer re-activation
- Customer retention
- Up-selling and cross-selling
- Converting leads to inquiries and inquiries to sales
For example, here’s how we used our analytic capabilities for a travel client…
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| Marketing
to their existing database of past clients and prospects, the client
suffered declining open and click-through rates. They desperately
needed to find new prospects, rather than keep hammering away at their
old list. So they turned to AGR for help.
First,
we appended demographic information to the email addresses. Then we
profiled their past customers. Next we built a probability model that
predicted whether or not a prospect would become a customer based on
that data. We created four segments (Platinum, Gold, Silver and Bronze)
and assigned a segment code to each past customer. A Platinum prospect
is in the top 1% of all consumers in income, affluence and travels
frequently compared to the Bronze prospect who is middle income and
value-based for any travel experience.
Using
that model, we were able to predict future customers based on the
profiles of past customers, so the client can seek out prospects that
“look” the most like them.
With
that insight, the client can not only confidently target a certain
demographic; they can craft their message more effectively too as they
grow their prospect database. |
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Our
process enables us to analyze customers by all data elements so we can
even build a logistic regression model to identify the “best” customer
by significant demographic and lifestyle data. We can also use the
model to score the likelihood of prospects becoming customers in new
market footprints and new geographic areas.
To find out more about putting this analytic capability to work on your data, schedule a discovery call today.
