You’re no fortune teller, you’ll tell me, and yet predictive marketing techniques now make it possible to determine who, within a homogeneous group of customers, is “probably” likely to order more!
Some of your customers could buy a lot more, but which ones?
Scoring your accounts
Account scoring is indeed very much in fashion at the moment, and reflects the probability of a customer buying or ordering more.
You have no doubt already tried to segment your customers into Gold/Silver/Bronze, or more simply into Large/Medium/Small, or again using the very classic RFM method (recency, frequency, monetary value), but within each group do you know which ones could probably upgrade?
Do you know the proportion of “medium” customers who have all the attributes of your “key accounts” and would therefore justify the most sales effort and resources?
The challenge is simple: identify the most strategic accounts and concentrate your efforts on the customers that have the potential to generate more turnover.
Smart data at the heart of the predictive marketing setup
The key element of the setup: the dataset prepared as input.
In reality, the richness of the variables or parameters analysed will determine the quality of the prediction. It is even the key element on which the whole system rests. Indeed, the dominant variables in a model predicting the position of companies within a group are not always the ones you would think, and statistical modelling sometimes brings to light variables that are unknown to or unsuspected by our customers. But you still need the richest possible input dataset!
This is where Mixdata’s smart data comes into its own, and it is this richness of data that will get our data scientists buzzing about your case.
Growing your database
This is why Mixdata will first scan your customers and reconstruct all their characteristics in the form of a complete customer record, using its 900 criteria. Legal data, technology data, data related to the nature of the functions within the company or to its digital maturity, everything is covered.
Without this crucial, prior phase of enriching and aggregating as much useful data as possible about your customers, there can be no valid analysis, and therefore even less a valid forecast.
Once the models have been tuned and the modelling carried out, Mixdata delivers you a complete study as well as a final file containing all the aggregated data, along with the probability of each customer being reclassified into the group above. A godsend for your salespeople!
Want to know more?
Don’t hesitate to get in touch with our sales team …
