Increasing Acquisition Through Enriched Data & Prospect Segmentation
SITUATION
~ A Canadian upper mid-market company, that provides its customers with various types of automotive services, desired to optimize acquisitions, communicate various benefits and service offerings to potential customers, and as well expand usage of digital channels.
~ The Client had an existing 1st party data model to target new prospects for acquisition – the costs of maintaining the acquisition program were growing and the performance was declining
APPROACH
~ We worked alongside the client to understand their target prospects, 1st party data available, and acquisition program performance.
~ We recommended including EthoSense data to augment their 1st party data and provide visibility into key attributes of their prospects that were not available historically – Priority data to be included from EthoSense centered around intrinsic values, emotional dispositions, and key income and demographic variables.
~ By enriching their prospect database with EthoSense, the client would be able to increase their marketing spend and customer acquisition ROI.
IMPACT
~ New acquisition campaigns that included EthoSense resulted in a 25% lift in campaign response compared to the champion model (AB Test).
~ In addition to observing immediate growth of net new customers, the client was able to also observe new behavioural relationships and insights found through post-analysis. These new insights were then further leveraged to design new campaigns and creatives personalized to their customer segments.