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EQ327SH_MarktngAnalytics_V04 18/4/07 5:30 Page 1 Connecting to life Marketing Analytics In today’s increasingly competitive market, the need for accurate and targeted customer contact has never been greater. Direct marketing consistently proves itself as one of the most effective and quantifiable methods of reaching customers. Key services ● Propensity Modelling ● Profiling A key element of the success of direct marketing has been the development of large marketing databases, by both client organisations and third party suppliers. However, a database does not really prove its worth until it is exposed to the rigours of statistical analysis. It is this analysis that can most effectively identify your ‘best’ customers, either in terms of responsiveness, conversion or long-term profitability. Propensity modelling ● Credit Marketing Propensity modelling is a statistical technique carried out to assess an individual’s likelihood to behave in a pre-defined way that can be measured. ● Life Time Value Modelling ● Market Evaluation and Segmentation ● GIS Analysis Why is it used? ● To understand cross-sell opportunities for products and services ● To assist prospecting to identify likely new customers ● To predict the likelihood of displaying a defined behaviour, for example: attrition, churn, become dormant Propensity modelling techniques CHAID Analysis: segments customers or prospects to identify the best responding combination of variable classes. It produces discrete segments that can be ranked according to highest likelihood and hence the most predictive for targeting purposes. About Equifax Equifax is a leader in credit and marketing CHAID and Logistical Regression: uses characteristics such as age or income that are used to predict the probability of a given outcome, for example: response. The regression equation is converted into a ‘Scorecard’ that produces a continuous score for each prospect/customer. The score is then applied to the database and the best prospects/customers are selected for mailing. information and works strategically with some of Equifax Profile Analysis (EPA) in turning information into intelligence. The Equifax Profile Analysis aims to provide you with a picture of your clients in terms of their demographics, geo-demographics, and financial characteristics. Two versions are available: the world's largest companies. Lenders and marketers alike choose Equifax for the quality of our data – its accuracy, depth and freshness – and for the innovation of our marketing solutions. Equifax Plc is part of Equifax Inc, a global leader EQ327SH_MarktngAnalytics_V04 18/4/07 5:30 Page 2 Marketing Analytics ● EPA only: this is used to determine how the client base differs from the UK base population as a whole ● EPA and CHAID Analysis: in addition to the standard EPA output, this combined analysis provides a mechanism so that ‘look-alikes’ can be selected from Equifax data sources Credit marketing This type of analysis highlights the close links between marketing and risk in the customer relationship management cycle. It involves the calibration of generic bureau scores such as Equifax Risk Navigator™ and the other available bureau information, with client application score cards to determine the pre-screening criteria for the offer of credit facilities. Credit analysis ensures that lenders do not contact people who they will ultimately reject or who will go bad. Segmentation Segmentation can be either ‘demographic’ (based on lifestyle/lifestage) or ‘behavioural’ (based on product behaviour and usage characteristics) with each segment described by lifestyle, attitudes, product holding etc. customers to overlay the data with segmentation and predictive models to ensure the best appropriation of marketing budget. Market evaluation Market evaluation helps clients to apply a structured approach to their marketing activity that supports the future evaluation and testing of creative designs, selections and channels. Information analysis and results are tailored to a marketing management audience, and are overlaid with statistical tests of significance to ensure decisions are made upon valid findings, not chance results. Why use it? ● To measure the success of marketing campaigns ● For the recruitment of new customers and to cross-sell to existing ones ● To advise on the best method for assigning future marketing budget ● To provide more tactical strategies for future campaigns Why segment behaviourally? GIS analysis ● Enables the definition of discrete, homogeneous, customer behaviours that drive value and identify the marketing risks and opportunities Equifax has successful experience in using geographic software for the following projects: ● Enables a business to quantify and prioritise marketing activity ● Sales territory planning and analysis ● Provides snapshots at different points in time to help evaluate the changing composition of the customer base over time ● Provides a mechanism with which to monitor the dynamics or migration of the entire customer base ● Improves the effectiveness of modelling by providing consistent behavioural groups Life Time Value (LTV) modelling This involves assessing the value of individuals over their lifetime as a customer and contains elements of current value and an inverse proportion of likelihood to churn. It is important when devising strategies for www.equifax.co.uk ● Store catchment analysis (e.g. Drivetime) ● Customer mapping and representation ● Site assessment and location planning ● Gravity modelling ● Postal sector ranking (DM, door drop activity) To learn how Equifax Marketing Analytics can help you deliver more successful marketing campaigns, call 020 7298 3000.