Finding New Customers

Marketers are constantly under pressure to improve response rates for customer acquisition campaigns, regardless of the medium used. Whether your preferred acquisition method is advertising, circular distribution or direct marketing, a key objective will be to minimise cost per response to help stretch the marketing budget as far as possible.

This is where some smart predictive modelling can lead to massive improvements in marketing performance. As we know, all customers are not equal - so why waste your time, effort and budget in trying to acquire customers who are either not likely to purchase your product or service, or even if they do, may not be profitable?

Datamine has considerable experience in developing smart acquisition models which help marketers to focus their acquisition strategies. Profiling and meshblocking techniques are applied to behavioural and demographic data to build an understanding of a company's best customers.

Once you know the sort of people you want to attract, you will need a process to locate and target them. Datamine uses 'valuable customer' characteristics to build acquisition models for identifying prospects who share these characteristics. These models identify and target the customers who are most likely to take up a company's offering.

Depending on the specific requirements, modelling can be built around specific products or services, or incorporate customer profitability, to target customers who are more likely to be truly valuable to the business.

These techniques can be applied to target both unaddressed and addressed acquisition campaigns. Typically, the use of an acquisition model to target a direct marketing campaign will at least double the response rate achieved by a random mailing, making it well worth the investment.