As postage continues to rise, marketers are facing budget constraints and difficult decisions. Where do you make cuts? Do you decrease the number of mailings or records per mailing, etc.? How do you make the most of your marketing budget? Is it possible to mail less and still get the same or better response rates? In order to mail smarter, you need to make strategic selections. Our MicroModeling® process was created to equip you with all the information you need to make the best decisions for your business.
Our team has a long history of working with customers in the direct mail space, and we wanted our customers to be able to target their best prospects not just a random selection from their prospect universe. We knew if we could identify who was most likely to buy from them we could help our clients improve their campaign results, so we created MicroModeling®.
What is MicroModeling®?
MicroModeling® is our proprietary tool that analyzes a company’s customer base. This statistical analysis filters through hundreds of demographics, lifestyle and behavioral data points, 10 layers of geography, and over 4600 custom built spatial data points to help us understand and identify what makes your customers unique. Our team will give you an in-depth customer profile report with over 46 pages of information about your customers.
We will use those key characteristics to create a custom model for your business. Each record in your prospect universe will then be scored and ranked. For example, let’s say you have 1 million households that meet your initial demographic selections. If you only want to mail 100,000 records, which ones do you choose? Previously, these records would have been chosen by random selection. With a MicroModel® in place, you can mail smarter by choosing the top scoring 100,000 records. These are the records who are most likely to buy from you, giving your campaign the highest chance of success.
Utilizing MicroModeling® to Mail Smarter
MicroModeling® allows you to focus your marketing efforts on your best prospects, so you can mail smarter and accelerate growth. This means you can greatly reduce marketing waste by removing records that have a low statistical probability of becoming your customer. If you run multi-tiered marketing campaigns, you can see clear cut-off points for how many records you should target in each tier.
With the in-depth customer profile, you can use the findings to guide your design choices. By selecting images, copy, and music based on your audience’s preferences, you can create marketing materials that catch their attention and resonate with them.
If you have multiple locations, your customer demographics will vary. The clientele in California will look different from those in Illinois. MicroModeling® not only creates a national model, but it can create a separate model for each location. Every store receives a list of top prospects based on their unique model.
MicroModeling® is built to learn and adapt. As you get response data back from campaigns, we can feed that information into your model and refine your prospect selections for future campaigns. Your customer base is always evolving, and in order to grow, your data selection should be adapting as well.
Mail Smarter: Next Steps
Who you mail to matters, and with the rising cost of postage, you need to mail smarter. Strategically select the best prospects to help you achieve your marketing and sales goals. Ready to find out who your best prospects are? Let’s connect!