Response Profile
A structured approach to improve understanding of the effectiveness of your direct marketing campaigns:
- Determine which prospect segments are most responsive overall and for which specific packages.
- Determine which packages are most effective in attracting specific types of prospect segments.
- Determine if those prospect segments have a likelihood to be “good” customers.
The profiling system utilizes an Exploratory Data Analysis format to provide the information to you. The Exploratory Data Analysis enhances a net mail file and the response file with selected external variables. Response indices are then developed to identify responder and non-responder patterns, allowing you to make rapid, informed decisions regarding promotional efforts.
Market Area Profile
Can you describe your customer base by age, income, gender and homeownership percentages? eNtelligy’s Market Area Profile provides you with the means to describe your customers – relative to your market area – in terms of demographic, lifestyle and socioeconomic characteristics, and then compares those customer characteristics to a defined targeted marketing “base” to determine the unique traits of your customers. Conducting this type of analysis helps you assess the market opportunity for further acquisition of households showing these “targeted” characteristics.
Profiling can be performed on a stand-alone basis or as a preliminary step for performing predictive analysis and modeling very similar to the Market Area Profile, except that a selection strategy for a direct marketing offer is provided. This selection strategy is developed using a CHAID predictive analysis. CHAID finds a predictive relationship between the outcome and the independent variables. This is done in such a way that your customer or prospect data being analyzed is broken into mutually exclusive segments that are defined and described in terms of these independent variables. The result of the CHAID analysis allows you to make strategic list selections from a prospect database.
Qualified Prospect Database
The Qualified Prospect Database (QPD) is a prospect database built utilizing statistical techniques to rank order individuals based on their likelihood to become a customer. The matrix effectively scores individuals based on their propensity to resemble your customers, by products. The first step in developing the Qualified Prospect Database begins with combining and accumulating your specific product information with variables that contain financial lifestyle, lifecycle, individual demographic, household, and area level demographic information. Specific variables will be identified through an Exploratory Data Analysis and used in the development of the matrix.
The QPD provides a series of codes from 1 to 10 that identify an individual’s likelihood to resemble your customer possessing a product. For example, if an individual’s life annuity prospect code is a “1,”, he or she is more likely than individuals with a “5” to resemble customers owning that product. The lower the code, the more likely the individual is to resemble customers who own that product. For the QPD, a prospect would have a series of scores based on the number of products modeled. Ideally, these individuals would reside in a prospecting database with a cross-sell score for each product.
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