Synopsis: How you can use this advanced technique to uncover new insights and target better.
PREDICTIVE DATA MODELING
Using Otherwise Hidden Information to Target Better
Predictive Modeling is one of the advanced techniques that Verdi uses to reveal new insights on your customers and prospects.
We find additional data that you don’t already have. And we uncover those “signature” attributes unique to those who respond and buy from you.
Then we use that data to find look-alike prospects who most closely resemble your highest value customers.
Here’s how it works…
Starting with your customer list, we find each of them on much larger databases of U.S. households.
This provides 1,000s of additional datapoints – demographic, lifestyle, psychographic, and behavioral – which we match to each of your customer records.
When we apply these datapoints to your 1,000s of customer records, it creates millions of variables and combinations. We run this through mathematical models to analyze what differentiates your best, highest-value customers from all other U.S. households.
We use these new insights as a filter, screening various commercial lists of non-customers – scoring these prospects on their propensity to buy your products or services.
When we then target just these prospects who look most like your best customers, your campaigns perform significantly better. And we can quantify these results by identifying which specific prospects responded and became your newest customers, what channel/tactic they came from, etc.