Download Strategic marketing Services

CONSUMER INFORMATION SOLUTIONS
Strategic Marketing Services
SERVICES
AVAILABLE
» Database marketing strategy
» Campaign planning & evaluation
» Customer marketing insights
» Multi-channel contact strategies
» Primary survey research
» Marketing opportunity identification
» 360º customer segmentation
» Statistical modeling
» Reporting and dashboards
» Custom metric development
SOLUTION
BENEFITS
» Optimize your marketing investment
& prospecting efforts
Strategic Marketing Services
Equifax Database Services is an acknowledged leader in providing hosted marketing database solutions.
Our services include strategic and analytic support, technical and operational expertise, professional
services and a proven, scalable technology platform to support our clients' marketing requirements. Our
client-centric approach and best-of-breed technology partners are continually recognized by industry
analysts and further validated by our clients’ customer advocacy ratings.
With every client engagement, Equifax Database Services provides a world class solution infrastructure and
strategic marketing insight deliverables. They work in tandem and are designed to meet a client’s business
and marketing objectives—producing effective marketing programs that generate stronger sales and
maximize the return on marketing investment.
• Our technology solution provides a scalable, flexible architecture that can easily adapt as our client needs
grow and evolve.
• Our strategic marketing insights help you better understand your customers and increase your profitability.
We focus on improving customer loyalty, retention, acquisition and customer migration management.
Strategic Marketing Services (SMS) provides integrated account team expertise including ongoing database
marketing strategy, program measurement, customer intelligence and strategic marketing insights. This
integrated strategic support provides a comprehensive approach to optimizing the unique customer
relationships you want to build and maintain.
» Provide a comprehensive 360°
view of your customers
» Maximize the potential of your
marketing database
» Increase customer profitability & loyalty
» Retain your best customers
» Create greater opportunities to
cross-sell/upsell
» Optimize multi-channel marketing
strategy
» Track customer migration
The SMS Difference – Intelligence, Experience and Collaboration
Our reputation and distinction in the industry is defined by our mission to provide actionable marketing
intelligence. We analyze and interpret your customer data and create strategic deliverables that provide
insight, recommendations and opportunity identification.
Collectively, our SMS team has the experience, knowledge and business expertise from a wide range of
vertical industries. A seasoned database marketing strategist is uniquely partnered with the client to bring
database marketing best practices, vertical industry expertise and integrated business solutions to every
engagement.
Collaboration is key to every successful business partnership. That’s why SMS engages—right from the
start—in order to ensure that all deliverables result in a successful outcome. The partnership produces
actionable results and a strong working relationship.
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Our Methodology - Marketing to Value & Potential
“…Strategic Marketing
Services provided us with
terrific and usable insights on
customer behavior. Based
on their recommendations,
we were able to strengthen
our loyalty programs, better
combat attrition and better
predict new member
profitability.”
Vice President, Marketing
Our SMS features our proprietary methodology called the “Marketing to Value and Potential”
(MVP) framework. MVP is focused on investing marketing budgets in those customers who will
provide the greatest return on investment. Our MVP methodology is designed to maximize
database marketing program results and drive customer centric marketing. We help clients
assess where they are on their journey to customer centricity and the steps required to achieve
their database marketing objectives.
The MVP strategic deliverables are provided in three phases: Early Harvest; Test, Measure,
Learn; and Continuous Improvement.
1) “Early Harvest” is designed to provide a solid understanding of the new marketing database
and features deliverables focused on identifying and prioritizing the most valuable marketing
opportunities.
2) “Test, Measure & Learn” features advanced methodologies which track key trends and
produces recommendations for acquisition, retention and customer migration management.
3) “Continuous Improvement” provides deliverables to evolve your database marketing
strategies and maximize ongoing marketing program ROI.
“We have been working
with the SMS Group on
several projects including
profiling for our new store
development, customer
modeling, and customer
segmentation schemes. Our
first prospect model was a
huge success; from prospect
identification to our return on
investment. And now with
our second prospect model
underway, the data and the
insight from SMS is already
confirming what we know
and need to do.”
Project Manager,
Database Marketing
Marketing to Value and Potential
Creating a Path to Customer Centricity
Phase 1
Phase 2
Phase 3
Early Harvest
Test, Measure, Learn
Continuous Improvement
Strategic Marketing
Assessment
Custom Metrics
Development
Strategic
Reviews
Customer Opportunity
Analysis
MVP
Customer Scorecard
Campaign
Refinement
Basic Segment
Identification
Campaign Planning &
Evaluation
High
ROI Focus
Dashboard
Reporting
Statistical
Modeling
Effective
Executions
External Data
Strategy
360º Customer
Segmentation
Cross-Channel
Development
Customer
Centricity
360º MVP Customer Segmentation
Our recommended 360º customer segmentation addresses marketing opportunities such as:
• Which prospects are most likely to try the brand?
• Who are the most valuable customers for special retention efforts?
• Which customers should be targeted for upward migration efforts?
• Which customers are in danger of lapsing into inactivity?
• Which inactive customers should be targeted for reactivation?
• Which customers should be allowed to go to the competition?
Our 360º MVP Customer Segmentation methodology addresses challenges such as how to engage
inactive customers or identify the most valuable customers. This is particularly effective in
maximizing the value of several distinct categories of customer data. We believe that effectively
combining these categories results in a customer segmentation scheme that yields value greater
than the sum of its parts. Four data categories should comprise the marketer’s toolkit:
Recommended 360º Customer Segmentation Data Sources
Demographics, Interests & Lifestyle
Transactional Data
• Female
• Married 2 Children
• Shops 2X per mo
• 34 years old
• $85k HH Income
• Last Shopped
Two Weeks Ago
• Surburban
• Social Media Engagement
Custom Metrics
• Low Promotion
• Strong Response
Sensitivity
to Email
• Highly Profitable
• Early Adopter
• Weak Response to DM
• Spends $100/trip
• Shops In-store and Web
(50% sportswear 50% kids)
Primary Survey Research
• Brand Evangelist • Prefers Web Channel
• Likes Specialty
• Seeks Personalized
Stores
Service
• Brand Names Loyal • Low Share of Wallet
• Social Media Engagement
The combination of many data sources provides a complete, holistic “360º view of the customer,”
which ultimately results in improved database marketing results. The methodology is powerful,
versatile and works across all industries and services.
1) Demographics & lifestyle data - data collected directly from the customer or purchased from third
parties by matching the customer’s name and address to non-regulated data sources, such as Equifax’s
TotalSource XL file. There are hundreds of data elements to work with. The most popular are age, gender,
household income, presence of children and marital status. This data is excellent for describing what
customers look like, but it doesn’t reveal how they act, what they think, or how they feel.
2) Transactional data - data available in your marketing database which includes a history of the
customers’ transactions with you. This is data that only you have about your customers. It reveals how
recently and frequently they have done business with you, how much they spent, and the products/services they
purchased. Depending on the buying cycle in your business and the amount of history, most organizations
will retain data for two years for a more intensive transaction-based business, versus five years or longer
for a lower transaction-based business.
3) Custom metrics - data calculated and derived from other elements already residing in your marketing
database. This data is very attractive because it adds significant meaning and can be developed at a low
cost using internal resources. Suggested metrics include: Discount and Promotion Sensitivity Score and
Profitability Index and Response Quotient. Custom metrics are all calculated from discrete variables within
the marketing database and its power lies in its utility to your business rather than its complexity.
4) Primary survey research data - the fourth major data source is what really distinguishes the 360º
methodology and enables database marketers to maximize the value of their marketing database assets. We
usually recommend online surveys because of their low cost, higher response rates, efficient data collection
and ease of integrating and appending responses back to the marketing database. Integrating primary survey
data is a major component of the 360º segmentation. Equifax offers survey services and can facilitate the
survey process on your behalf.
By combining your internal and consumer data sources with our unique Equifax data elements,
we can provide a full suite of custom services for target marketing.
“Having the SMS expertise
meant having the information
we ‘needed to know’ as
opposed to ‘wanting to hear’.
SMS introduced a whole new
set of metrics such as loyalty
conversion and loyalty
advocates. They also created
and implemented key metrics
to enhance our measurement
systems…and helped us
uncover and tell the right story
by identifying the programs
that delivered.”
Director of Direct and
Interactive Marketing Services
“We engaged the Strategic
Marketing Services group
because they knew our
business challenges as a
consumer packaged goods
company and what we were
trying to do: ensure an
effective means and delivery
of communicating with our
customers that would be
significant and measured.
The end result: SMS provided
us with the metrics and means
to measure the real impact of
our brand health.”
Senior Manager,
Database Marketing
Statistical Modeling
• Which customers are most likely to attrite?
• Who are our best prospects for cross-sell and upsell?
• Which products and services are a customer most likely to buy next?
• Which customers are most likely to respond to specific offers?
For every client challenge the SMS team has the qualitative and quantitative modeling solutions that can help determine how and why your customers
respond to some offers and not others. Most importantly, SMS provides the insight and guidance on how to keep your customers engaged and
responsive to future offers.
Equifax has one of the deepest and most experienced strategic analytic services teams in the industry and are leaders in helping our clients maximize
the potential of their marketing database. We were recognized as one of the top three performers in a Marketing Optimization Model Development
Challenge at a recent NCDM event completing a challenge to build a marketing optimization model.
Our consultants are skilled analytic professionals who conduct and recommend analytic processes, modeling services and other deliverables. The team
includes more than 45 consultants, and statisticians who have created more than 3,000 models. Modeling is a powerful tool that can identify behaviors
and trends and sets a course for producing better executed campaigns and effective marketing programs that generate stronger sales and maximize
the return on marketing investment. Typically the models are designed for response analysis, purchase propensity, churn assessment, and/or cross-sell
optimization. Initial and ongoing scoring results are made available in the database for longitudinal tracking and analysis providing a historical view.
Statistical modeling projects are highly customized depending on individual client requirements. All the talent and resources help our clients help our
clients acquire the most profitable new customers and win incremental sales from existing ones.
Strategic Marketing Services helps clients maximize the true potential of their marketing database. We combine the resources of our proprietary MVP
methodology, marketing insights, best practices and an experienced, dedicated team of strategic database marketing professionals to meet client needs.
This approach results in highly satisfied clients now able to create and engage new customer relationships, and effectively measure the ROI of their
marketing database investment.
Contact us today to find out more about how Equifax Database Services’ Strategic Marketing
Services can deliver sophisticated, intelligent, and effective database solutions.
1.800.660.5125
or [email protected]
Equifax Database Services
500 Edgewater Drive, Suite 525
Wakefield, MA 01880
http://www.equifax.com/databaseservices
Equifax is a registered trademark of Equifax Inc. Inform, Enrich, Empower is a trademark of Equifax Inc.
Equifax TotalSource XL is a trademark of Equifax Inc. Copyright © 2010, Equifax Inc., Atlanta, Georgia.
All rights reserved. Printed in the U.S.A.
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