Can you accurately describe the demographics of your best customers?
Do you know your market penetration?
Our analytic services help answer questions like these that you should be asking about your business. Based on a thorough understanding of your strategic marketing objectives, a data analytics solution is designed that best fits your tactical marketing requirements.
Many times these custom solutions leverage both customer data and 3rd party information sources, adding demographic information that will help you determine who your most profitable customers are, what characteristics they share and - most importantly - how to find more customers just like them. That's information to improve your bottom line.
Our analytical services transform customer data into meaningful information. This can include:
Profiling and Segmentation
Understanding who your customers are is a critical step in designing and executing campaigns, whether for acquisition or retention. Profiling illustrates what your customers look like with respect to key behavioral, demographic, or geo-demographic attributes. Comparative profiling examines how key attributes differ across pre-defined customer groups (e.g. customers sourced via direct mail vs. customers sourced online). Segmentation divides your customers into a small number of groups, within which customers share key characteristics. These segments can be used to craft a handful of focused campaign messages, creative, and product offerings, all specifically targeted to individual customer segments.
Two common analyses in the process include:
» Customer Analysis Profile: Provides important insight regarding the distribution of your customers across various demographic segments. Understanding who your customers are is a critical step in designing and executing marketing campaigns.
» Market Penetration Analysis: Provides insight into how effectively your company is penetrating your market place by comparing customer and market segments.
Response and Conversion Modeling
Nothing kills a direct marketing campaign faster than poor response or conversion. We use sophisticated modeling techniques, combined with thorough validation, to develop models that give your campaigns the lift they need. Response / Conversion modeling identifies those factors that are most predictive of a prospect’s likelihood to respond to campaigns and/or ultimately to buy your product. By applying these models to a universe of prospects you can select the best set of prospects to mail, resulting in improved response/conversion rates, reduced cost per lead/acquisition, and ultimately, better profitability from your direct marketing programs. Attributes examined in model development can include past customer behavior, customer demographics, geo-demographics, campaign creative / offers, etc.
Trading Area Analysis
Thinking of opening a new location? Trying to decide which zip codes to mail? We perform a variety of geographic analyses for our clients, identifying better areas within which to conduct direct marketing campaigns and places to site new locations. Combining data about existing customers (location, behavior, demographics, etc.) with current locations, we use advanced statistical and mapping techniques to define your trading area and identify good potential sites for new locations. Additionally, this information provides important analysis to support geographic marketing decisions around current locations.
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