Business Analytics for Sales and Marketing Managers: How to Compete in the Information Age

PROFILING TARGET GROUPS

In the previous section, you read about how to identify and select the campaigns that give you the highest returns from a business case perspective. See also Chapter 8. A second and very natural step after having identified the best campaigns is to improve them even more. This exercise was described in Chapter 4 in regard to acquisition processes. However, there is one big difference between the situation described in Chapter 4 and here, and it is all about the data.

In the acquisition campaigns discussed in Chapter 4, there would be relatively little customer data available to analyze, since we have little information about the prospects that were contacted and did not accept our offer. In the best case we would have the directory data that came with the lead lists, such as type of company, industry, numbers employed, turnover, and so on. When you are dealing with cross- and up-selling, you are building on an existing customer relation, which also means that you might have customer-specific data stored in your DW. Instead of having just directory information about where a customer lives or general information about what a company does, you might have information about what specific products and services each individual customer typically purchases, when they purchase, and through which channel they purchase. Also, you might have other types of information about what your customers like, what they find difficult from your call center logs, their ability ...