AccuData Integrated Marketing http://www.accudata.com An Integrated Marketing Data Solutions Company Tue, 14 Oct 2014 16:20:57 +0000 en-US hourly 1 AccuData’s ALS Ice Bucket Challenge http://www.accudata.com/accudatas-als-ice-bucket-challenge/ http://www.accudata.com/accudatas-als-ice-bucket-challenge/#comments Fri, 22 Aug 2014 22:08:12 +0000 http://www.accudata.com/?p=827 We were nominated by Gregory Demetriou of Lorraine Gregory Corp to complete the ALS Ice Bucket Challenge… and we accepted! In addition to accepting the challenge, AccuData will be making a donation to the Lee Memorial Health System ALS Clinic. In order to pay it forward, we’d like to nominate a few other friends to […]

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We were nominated by Gregory Demetriou of Lorraine Gregory Corp to complete the ALS Ice Bucket Challenge… and we accepted! In addition to accepting the challenge, AccuData will be making a donation to the Lee Memorial Health System ALS Clinic. In order to pay it forward, we’d like to nominate a few other friends to take the challenge and make a donation to ALS. Dan Anglin and the Modern Postcard team, Eddie Faulkner from Bluewater, and Sandra Worm and the RME 360 team…You’re on deck! You have 24 hours to respond and donate!

 Watch Us Take the Challenge!

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Achieve Better ROI and Create Solutions with a Predictive Model http://www.accudata.com/achieve-better-roi-create-solutions-predictive-model/ http://www.accudata.com/achieve-better-roi-create-solutions-predictive-model/#comments Wed, 13 Aug 2014 20:45:23 +0000 /?p=542 From telecoms to finance, e-commerce to government, a predictive model is being utilized across various sectors to tackle all kinds of business problems. Companies that have yet to benefit from this practice need to examine the ways in which they can do so. For example, AccuData worked with an ad agency to help its client, a […]

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From telecoms to finance, e-commerce to government, a predictive model is being utilized across various sectors to tackle all kinds of business problems. Companies that have yet to benefit from this practice need to examine the ways in which they can do so.

For example, AccuData worked with an ad agency to help its client, a nationally known health and fitness franchisee, increase response rates by over 100%. Their challenge: demographics alone revealed little insight.

With more than 700 stores, they wanted to partner with a direct marketing agency that could provide actual marketing intelligence – not just postcards and lists. The project began with a simple customer profile request as part of an effort to increase response rates. The client chose to work with a savvy, web-to-print direct marketing agency since they had a reputation for excellent creative strategy and back-end analysis.

The direct marketing agency recommended that the client create a descriptive clone model for each of its fitness stores. However, while this would help paint a picture of the various markets, demographic elements and relational penetration, it would not solve the problem of “how do we increase response?”

Matters became even more confusing when they got the results of initial tests between saturation data and scored data from the customer profile. It appeared that scored data actually offered no measurable lift in response – on average, profiled records responded virtually the same as saturation records. The reseller wondered, that perhaps the fitness stores were placed in market areas where immediate surrounding geography was populated by demographics very similar to those on the modeled client file.

That’s where AccuData came in. We provided an actual solution: Using a predictive model to uncover their prime prospects. While demographic elements looked very similar between the profiled records and those saturating the geography of the store sites, we wanted to identify key differentiators.

By implementing a predictive model process, which looked at over 200 individual demographic elements and compared responders verses non-responders, the resulting scored data became a tremendous resource for the client. They learned exactly which demographic traits – such as credit card usage, age, presence of children in the household, and interest in travel – were positive influences on the probability of an individual responding to an offer.

To further improve results, they also applied prospect suppression details – removing from the list non-responders and responders with low propensity to buy. By using a predictive model, the client was able to double their response rates and reduce the costs of their prospect acquisition marketing campaign.

A predictive model will find the statistical differences between responders and non-responders whereas a profile will only give you insight into your customers without regard to those that are not and will not be a customer. So you end up marketing to people that meet a general profile but statistically have a low probability to respond.

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There’s Nothing Wrong with Teasing in Predictive Analytics http://www.accudata.com/theres-nothing-wrong-teasing-predictive-analytics/ http://www.accudata.com/theres-nothing-wrong-teasing-predictive-analytics/#comments Wed, 13 Aug 2014 19:56:50 +0000 /?p=534 We have some national clients that are relatively new to applying predictive analytics models to their marketing campaigns. It is not uncommon to observe them pre-deciding markets without considering regional cultures. Consequently, their marketing efforts often excel in some markets and don’t do so well in others. How do we handle this? The starting point […]

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We have some national clients that are relatively new to applying predictive analytics models to their marketing campaigns. It is not uncommon to observe them pre-deciding markets without considering regional cultures. Consequently, their marketing efforts often excel in some markets and don’t do so well in others. How do we handle this?

The starting point is to implement a national model. The data set should include some sort of market or regional indicator (e.g. Metropolitan Statistical Area, ‘MSA’). After the results come in, the data can be parsed by the market/regional indicator and the campaign results analyzed on that basis. What does this do for you?

This approach will allow you to compare and contrast performance by market. You may find some similarities among markets. In this case, you can combine those markets for targeted treatment – starting with a predictive model built specifically for that market. Unique markets that do not act like others get “teased” out. Strategic decisions can then be made as to the feasibility of giving those unique markets special treatment. For example, using this approach for a national client, we were able to tease out underperforming markets that included smaller MSAs in Texas such as Austin and Portland, OR.

By taking this approach you can use your marketing budget most efficiently while continuously refining your targeted marketing for maximum performance.

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How to Complete a Puzzle that Has Missing Data Pieces http://www.accudata.com/complete-puzzle-missing-data/ http://www.accudata.com/complete-puzzle-missing-data/#comments Wed, 13 Aug 2014 19:18:43 +0000 /?p=529 As you know missing data is a problem for statisticians.  It is analogous to having missing pieces of a puzzle – you kind of know the full picture but you’re forced to somewhat guess at what the missing pieces might look like.  In the purest sense, records with missing data would be eliminated.  In the […]

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As you know missing data is a problem for statisticians.  It is analogous to having missing pieces of a puzzle – you kind of know the full picture but you’re forced to somewhat guess at what the missing pieces might look like.  In the purest sense, records with missing data would be eliminated.  In the real world of compiled and sourced data that means practically all records would be removed because a vast majority of them never have 100% of the fields populated. So how is missing data handled?

There are many schools of thought.  The most popular way is to impute by using an overall average.  However, that approach tends to be misleading and results in false positives.  Instead, mitigate risk by treating missing data as a “worst case” scenario based on the client’s needs.  For example, if a client is affluent prospects and a prospect record is missing data such as an income value, then we will assume a low income value.  There likely will be other affluent factors that are not missing that will improve the probability score.

By taking an approach such as this we’d rather lower the calculated probability than create a false positive that ends up getting this prospect record selected for a marketing campaign.  Although you may be overlooking a viable prospect, you’d rather save your client’s money by chasing the best prospects in a worst case scenario.

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5 Effective Email Marketing Tactics http://www.accudata.com/5-effective-email-marketing-tactics/ http://www.accudata.com/5-effective-email-marketing-tactics/#comments Wed, 30 Jul 2014 20:36:51 +0000 /?p=413 Whether it’s for work, pleasure, or both, people spend significant amounts of time in front of their computer screens. Since one of the top activities that make up this time is email related, it’s important for companies to integrate email into marketing campaigns along with direct mail, social, and mobile for an effective overall marketing […]

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Whether it’s for work, pleasure, or both, people spend significant amounts of time in front of their computer screens. Since one of the top activities that make up this time is email related, it’s important for companies to integrate email into marketing campaigns along with direct mail, social, and mobile for an effective overall marketing plan.

Email marketing, however, can be a double-edged sword. Used effectively, it allows businesses to connect with customers and prospects easily and cost-effectively. Used carelessly, emails can dull your sales and marketing communications and even damage customer relationships and your reputation.

Not every campaign will be successful but if you and your team are good about analyzing results, admitting shortcomings and making changes, you’ll eventually see the results you’re looking for.

Here are a few tactics to keep in mind the next time you launch a campaign.

  • Have A Plan. Nothing hurts an email campaign more than inconsistent messaging and lack of direction so it’s important that your sales and marketing message be aligned with your overall marketing strategy. Consider your objectives, plan your budget, and determine how you’re going to send and track the campaign.
  • Have an end goal. Before you or your team deploys an email campaign, it’s important to decide what you consider success. This is also the time to decide if you’re going test the effectiveness of the campaign and what you’ll be testing for. Are you going to perform a complex multivariate test or an A/B split to test one landing page over another? Is this going to be a multi-channel campaign integrated with social media? These are just a few of the questions to answer prior to mapping out end goals.
  • Be on target. Relevance is key. Email campaigns should always be written for your target audience. So if you’re targeting different decision makers in different industries, you’ll have to adapt your approach to meet the needs of your customer and prospect base segments. Each of your audience members speaks and responds to you differently based on the language, tone, and style you employ. Your email copy should be tailored to address these audience needs and to accommodate the viewer. Your email will be read on a mobile device by some percentage of recipients, so make sure it renders well.
  • Communicate internally. You set goals before you deployed your email and one of them was getting people to open, click and take advantage of your offer. So now what? Well for starters it’s important to ensure your sales team is aware of the why and the when: why is the email being deployed and when is it deploying. This will lead to follow up being done in a timely fashion for any online or offline inquiries and avoid any embarrassing situations where someone in your company is not prepared to answer questions about your promotion.
  • Evaluate and Revise. Make sure you evaluate the email in the larger scheme of your campaign. Was it successful? Did you meet your goals and objectives? Perhaps you need to refine your message next time around based on the lessons learned. Or maybe it was a huge success and the sales team knocked it out of the park. Celebrate for a minute and then plan your next move to keep your momentum.

By implementing a few simple tactics like planning, setting next steps, and knowing your analytics you have the recipe for an effective and measurable email marketing campaign.

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