DATA-DERIVED CUSTOMER PROFILING SETS A SOLID FOUNDATION
We develop customer profiles based on demographics and customer data so we can help you create marketing campaigns they’ll respond to.
We start by analyzing your customer data. When do they purchase? How much? What service line? How often? Etc.
Because your customer records all have a physical mailing address associated with them, we are able to take each of those records and append our Alcott demographic database* to generate customer profiles. Who are they? What is their age? What is their affluence? What size are their homes? How long have they lived there? Do they have children? What are their hobbies? Etc.
You will likely have more than one customer segment. Depending on resources and budget, you can then tailor marketing messages to each segment.
Customer profiling can help you prioritize marketing spend. For example: If you find that one particular segment is statistically more likely to become a customer, and you have a lot of room to grow that segment within your market, that’s a great place to start with marketing efforts.
*Our Alcott consumer database is updated monthly and includes 200+ attributes for 95% of the households in the United States.
UNDERSTAND CUSTOMER LANDSCAPE AND PROGRAM ROI
We begin by analyzing customer data to find out what your various customers look like and what service lines and programs are most profitable.
Data analysis appends Alcott global demographics data to your customer data to paint a portrait of consumer behavior by audience segment.
Analysis is used to create customer profiles and segmentation strategy.
Analysis, customer profiles, and segmentation strategy are delivered to clients (along with clean data) in a Big Book of Insights.
A Big Book is used as grounds for a measurable marketing plan backed by data.
DATA ANALYSIS, SEGMENTATION, AND PROPENSITY MODELING
A customer data analysis, followed by a segmentation strategy and delivery of our Big Book of Insights, takes 4-6 weeks depending on the state of the customer data. Cost ranges from $15,000 - $25,000 depending on the number of customer records, number of customer profiles, and whether a propensity model is included.
A propensity model is used to show which prospects in your market are most likely to become customers based on how much their demographic and behavioral attributes align with the people who are already your customers. So instead of sending direct mail to everyone in your market, you only end it to the people your model says have a propensity to become customers.
The propensity model shows that the blue person is your best customer.
We can help you find prospects in your market who look like the blue person so you don’t waste money marketing to everyone else.
Create targeted marketing campaigns to grow revenue. Use your Big Book to build smart marketing campaigns that target the right people. Cross-sell to current customers and the service lines they are likely to buy based on the data analysis. Win back former customers who’ve left. And prospect to lookalikes.
Hypothetically: Customers who use one of your product lines but not another. Let them know about the other options with a loyalty program.
Hypothetically: Former customers who haven’t used you in a while target them with an email offer on a heating checkup during the off months.
Hypothetically: Prospects who look like the best customers in your model – target them with a direct mail campaign.
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