Get more out of the customer information you have in your new and existing databases! We have expertise in a wide range of statistical modeling and segmentation approaches and will collaborate with your in-house staff to provide cost-effective advice on the setup and management of your databases and offer assistance wherever needed. Statistical modeling and professional analysis of your data can allow you to make very powerful marketing decisions.
Modeling to predict response
SRA can use existing information contained in your database including demographic, behavioral, and past purchase data along with test-promotion results to more accurately predict future responses. We can help you answer questions about your customers like:
Segmentation for strategic decision-making
Using statistical methods, SRA can partition database members into homogenous segments and define the characteristics of each. Partitioning can be based upon demographics, product or service category behavior, purchasing behavior or intent, and other factors which you may deem important. We can identify needs that drive behavior in each segment and the desirability of each segment in targeting for specific types of products and services. Accurately indentifying your key market segment’s attributes allows you to tailor advertising, promotion and reward strategies to these segments.
Enhancing test promotion effectiveness
To test the effectiveness and targeting of planned promotions prior to execution an experimental (or quasi-experimental) design can be prepared. We will help you select a sample of your database members to receive a promotional offer, while a second database sample – a control group – gets a similar promotion without an offer. (Tests can also be conducted among more than two groups.) Outcomes between the groups are then compared so we can estimate customer responsiveness and advertising effectiveness across your total customer population, prior to fielding the complete marketing campaign.