This graphic representation of customer clusters for a large retailer indicates how often
each type of customer frequents various store departments. The axes indicate the relative
number of customers in each cluster and their likelihood of responding to promotions. These
insights, useful for marketing strategy, are an example of the benefits of CAMEO™ Customer Analytics.
For many marketing managers, this means marketing direct.
And for good reason. Today's database marketing technology coupled with automated mail and email processing is raising target marketing to new levels of precision and efficiency.
To other managers, marketing smarter means planning strategically.
Advanced database marketing technology is also helping managers better understand the dynamics of their marketplace, anticipate change, and capitalize on it.
In either case, marketing smarter requires data and insight derived from understanding the relationship between customers, markets, and marketing/sales programs.
It's the kind of insight that results from sophisticated - and creative - analysis.
It's the kind of insight that CAMEO™ Customer Analytics delivers.
CAMEO™ Customer Analytics looks at your markets as segments of one.
Using advanced computer modeling techniques, and a unique multi-variate analytical process, IDG analysts create CAMEO™ purchasing profiles that define your marketplace opportunities and dynamics in terms of your individual customers.
These profiles take into account more than the traditional indicators of buying patterns - recency, frequency, and monetary value. They also factor in such variables as:
» Product purchase patterns;
» Responses to special events and promotional mailings;
» Geographic characteristics and economic conditions.
And, in business-to-business marketing:
» The type of business, number of employees, and primary function of the location.
CAMEO™ profiles can be further refined by applying demographic and psychographic data obtained from external sources, including the U.S. Census, and leading market data companies.
The result is information which pin-points:
» Why your customer buys;
» How your markets are changing.
Knowing why your customer buys is the key to gaining the substantial hard dollar benefits of targeted marketing.
Data from the CAMEO™ purchasing profiles can be overlayed on your mailing lists, enabling you to mail only to those customers who are the most predisposed to buy.
The result:
» Higher response rates, increased revenues, and more productivity from your marketing budget.
Profile data also lets you:
» Personalize your mailings to strengthen customer relationships;
» Follow your mailings with tailored phone messages to speed up the sales cycle;
» Shape your promotions for specific customer clusters;
» Design effective cross-selling and up-selling programs;
» Improve the overall presentation of your products or services.
Knowing how your markets are changing is the key to developing effective strategies for long-term marketing advantage.
Data from the CAMEO™ purchasing profiles, when analyzed for planning purposes, defines and quantifies the dynamics of your marketplace, enable you to move now to capitalize on them.
The analysis, for example, identifies:
» Emerging micro-markets, and new product or service opportunities;
» Potential synergies among different product offerings;
And it provides the insights you will need to:
» Redefine your primary market segments;
» Refocus your marketing approach;
» Restructure your sales channels;
» Retain your customers.
» A software company improved its direct response rate 69% (from 1.5% to 2.6%) and reduced the "bad" mail return rate 78% (from 10.7% to 2.4%) using CAMEO™ leads.
» An office equipment distributor increased their call to appointment ratio from 35/1 to 15/1, and realized a $0.5 million in sales in the first three months.
» An equipment manufacturer attributed an additional $18 million in sales from CAMEO™ upgrade and cross selling leads in one year.
» A cooperative effort between suppliers to the retail trade and wholesale trade netted a half million dollars in additional sales through a joint CAMEO™ marketing program.
» A major department store chain significantly reduced operating costs by using CAMEO™ segmentation results to reorganize the relative locations of departments and refocus their credit card customer promotions.
CAMEO™ Customer Analytics is a result of years of research and development.
It has been used with databases of more than two million customers. And it continues
to be enhanced, primarily by incorporating the latest innovative techniques for dealing
with data.
