Why Model and Score?
Posted: Mon Dec 23, 2024 5:11 am
However, a note of caution - don’t just go after your big spenders for their money, as they will soon start to notice that the relationship is a one way street! It might be that they are all spent out and don’t want to spend more with you, so no matter how much you encourage them they won’t increase their spending. This is a valuable target group that you don’t want to put off with over communication, so perhaps retention is the key. In fact, maybe it should be the cyprus mobile phone numbers lower ranking customers that you should be targeting with more communications to try and move them up the spending ladder.
In this blog, we look at why customer modelling and scoring is important, how it can be used and the 4 basic customer modelling and scoring techniques.
Many organisations use direct marketing (e.g. direct mail, telemarketing, email marketing) to contact prospective buyers (“prospects”) about their products or services. Often companies engaging in this activity have a large prospect database, however, marketing to all of these prospects is expensive and often counter-productive as potential customers may be put off by irrelevant information. However, customer modelling and scoring enables these companies to identify which message, product or service is the most appropriate to each customer and how ready they are to buy. This segmentation means that these customers can then be targeted with relevant messaging.
How can modelling and scoring be used?
Customer modelling can be used to improve targeting in a number of different situations:
A common objective is to target direct marketing at those most likely to take up our offer and buy our product or service (“responders”). This could be to identify new prospects (who are not yet customers) or to generate additional revenue from existing customers.
In this blog, we look at why customer modelling and scoring is important, how it can be used and the 4 basic customer modelling and scoring techniques.
Many organisations use direct marketing (e.g. direct mail, telemarketing, email marketing) to contact prospective buyers (“prospects”) about their products or services. Often companies engaging in this activity have a large prospect database, however, marketing to all of these prospects is expensive and often counter-productive as potential customers may be put off by irrelevant information. However, customer modelling and scoring enables these companies to identify which message, product or service is the most appropriate to each customer and how ready they are to buy. This segmentation means that these customers can then be targeted with relevant messaging.
How can modelling and scoring be used?
Customer modelling can be used to improve targeting in a number of different situations:
A common objective is to target direct marketing at those most likely to take up our offer and buy our product or service (“responders”). This could be to identify new prospects (who are not yet customers) or to generate additional revenue from existing customers.