Serious about growing your business? Most likely you’ll need to start attracting new customers to help reach your business goals. Matching the right customer data with relevant, actionable market intelligence and statistical modeling expertise can help fine tune marketing efforts to yield impactful business insights and profitable results.
Every company has a number of loyal, responsive customers – people so valuable to a business that the ultimate goal is to find more exactly like them. A Customer Predictive Analysis (CPA) compares existing customer data to a prospect universe, finding those potential customers that mirror current best customers.
A Customer Predictive Analysis can:
- Improve your response rates and expand mail volume, offline and online
- Help successfully reach hidden markets
- Give you the ability to better target your marketing messages
- Reduce mailing costs by allowing you to prioritize your best customers
DXM Marketing, a long-time strategic partner of Infinity Marketing, contracts with Epsilon, the leading consumer database in the country, to identify the most significant characteristics of acquired customers in a company’s database, ranking them from most-likely to least-likely-to-buy based on how closely the individuals resemble the most profitable customers.
A CPA report is built using regression modeling to apply a multivariate formula to all consumer characteristics and reveal how these characteristics interact with one another. Matching your company’s customer file to a national database of over 200 million individuals helps find prospects with similar demographics, interests, activities and behaviors as existing customers. Through significance testing, linear regression and other statistical methodologies, key characteristics are sorted, correlated and weighted to identify the most valuable targets for potential sales growth.
During the match-back process for a recent campaign, analysis showed that, when the new customer data file was overlaid with a physical address from digital cookie data, the acquisition cost per customer decreased by over $70 each. For every dollar spent on this campaign, it generated a return of over 9 dollars – 9 to 1. We also discovered that an integrated campaign – utilizing both display advertising and direct mail – was more efficient than a campaign that utilized display only: The acquisition costs per customer were even lower, almost $20 less, for the integrated campaign. Very successful!
By leveraging your current customer data, businesses will have a better understanding of their best customers, and a proven vehicle to better target and acquire profitable new ones.
DXM Marketing is full service, integrated direct marketing agency, offering creative services, direct mail and online targeted services, mailing list acquisition, data analytics, strategic consultation and print production. DXM has three locations, two of which are production facilities in Jacksonville, FL, and Savannah, GA, supplemented with sales offices in Greenville, SC, Atlanta, GA and Columbia, SC.