First In Home offers companies the ability to add layers of intelligence to their data enabling them to more accurately target the right consumer with the right offer in the right channel at the right time. Our customers utilize our service bureau capabilities for data hygiene, enhancement and appending services to clean up, add demographic and business attributes, phone numbers, etc. to their existing data fueling marketing planning and analytics.
Many of our other customers do not possess the internal analytics teams to perform this function. First In Home LLC can offer these businesses full service analytics to optimize their ongoing marketing initiatives including:
First In Home will build a complete picture of a company’s trading, or defined marketing areas giving insight into the market potential of consumers and businesses in, or around its location(s), or servicing areas. We work with businesses to produce a complete media/marketing analysis of marketing initiatives currently in place and their performance zeroing in on areas doing well, those needing some “tweaking” and those requiring substantial improvement.
Provide a 360 ° view of your customers including demographics, credit, lifestyle, summarized area info, and mass media propensities. Finally knowing the who, what, where and when of your customer base. The result of profiling serves as a directional finding and will provide recommendations for further, more targeted marketing initiatives.
In most cases little is truly known about the business’s customers and this can be a costly mistake. The very first step towards optimizing your marketing efforts is by knowing who your customers are. First In Home will Profile your customers and help you use that to your advantage. A customer profile is a foundation for segmentation and basic personalization and as a directional finding for further analytics such as modeling and one-to-one personalization.
- Customer provides data file
- Service Bureau appends data points from the National consumer (or Business) database
(includes: age, income, household characteristics, lifestyles, FICO, Debt, and other interesting variables, as well as firmographic attributes).
- Methodology: Our team uses proprietary methods to identify key variables as significant differentiators of groups that are being compared
- Client review: presentation of findings with analyst and team
- The average ETA for a standard profile is 5 business days
Models are used to boost response and conversion rate, improve customer retention and loyalty for cross-sell and up-sell, and to reduce overall marketing costs by eliminating low-probability prospects. Finally knowing the good, the bad and the ugly!
Modeling enables customers to score a prospect, or customer database ranking each individual and placing that individual into one (1) of ten (10) “deciles” effectively scoring the entire database. Those most likely to convert, or become a high value customer (depending on the purpose of the model) are ranked in the upper deciles. By excluding those individuals from the lower deciles, you remove those lower value consumers not likely to purchase from the campaign. The result is an improvement to campaign ROI by as much as 300%. The remaining higher probability prospects are marketed, or communicated with using basic, or advanced personalization to further improve user experience and results.
- Once the profile is completed the modeling process begins
- Our teams will meet to Identify necessary files such as: historical campaign files, response files, customer files or other promotional history files.
- We will then append hundreds of variables to target and non-target groups to start model training.
- Upon Model completion, the Analytics Team will thoroughly review and document how the model was constructed, what variables are driving the model’s power and how the model may be utilized to improve performance over earlier methods.
- Creation of a prospect Database. Prospects will be scored using the model created, and a volume report will be provided ranking performance groups from the highest to lowest deciles. This universe report is used to build the CRM or Acquisition campaign plan.
- A typical modeling project will take about 100 labor hours to scope the project, develop the model, run universe report, prepare a high level test recommendation, and presentation to clients.
- The Overall combined process for Profiling, Modeling and building the Prospect database takes around three (3) weeks
Once you identify those segments with the highest propensity to consume, we now use advanced personalization to provide true one-to-one, relevant and timely communications. The right message to the right prospect at the right time!!!
Once you have isolated the upper segments, or “deciles” you will be targeting for your marketing initiatives as outlined above, the next step is from going to basic personalization to a process of communicating with those consumers, or business contacts on a one to one basis. In order to accomplish this, First In Home works with the customer to build consumer DNA and consumer product identification. This extra granular level of analytics helps businesses to provide one to one communications to their customers and prospects incorporating individual consumer behavior and touch points that include: demographic, attitudinal, behavioral, web behavior, credit, social media and more to build meaningful attention grabbing consumer content boosting conversion by as much as 300% over modeled segmentation.
- Define base for the personalized email marketing campaigns. Review historic customer transactions for the personalized marketing campaigns.
- Compile the different product classes and characteristics from Customer for each product offered online, or within the initial scope of the test.
- Append life-style, attitudinal and demographic data to records included in the target population.
- Identify leading life-style clusters.
- Identify attitudinal, life-style and demographic touch points (“DNA”) for each targeting customer/prospect that will drive the personalized marketing messages.
- Rank all Customer products per customer/prospect using his/her personal “DNA” information identified above. Select optimal products for each targeting customer/prospect based on the ranking.
- Produce the CPR – Consumer, Product Relationship table.
- Oversee development of relevant copy and graphics for serving each personalized message.
- Work with Customers’ marketing team to develop the dynamic content that will be populated individually based on the product and the customer/prospect “DNA”
- Formulate the short-term testing strategy and benchmarks as well as roadmap towards full implementation.
- Track and measure results for future enhancements, optimization and other campaigns.