Prime Performance Modeling Changing the face of modeling through superior techniques
Information is power Power to see. Power to understand. Power to act. Information is the power that drives business success, and those who know how to use it enjoy a distinct advantage. But having information is only the beginning. It s your ability to unlock the hidden value in your information that is your ultimate key to success. And that s where Experian s Prime Performance Modeling can help. Prime Performance Modeling unlocks the profit potential in your data by taking you deep into your customer files. It helps you discover untapped markets, uncover hidden cross-sell opportunities and fix customer service problems. Find valuable new prospects based on the characteristics of your existing customers. Identify "at risk" clients and predict future loyalty. Best of all, Prime Performance Modeling gives you actionable insight into what your customers and prospects are really like their interests, product preferences and much more. All it takes to get started is information ours and yours. When you team with our Prime Performance Modeling experts, we enhance your transactional data with Experian s market-leading data and create a customized action plan to expand your customer database, improve revenues through customer loyalty programs, or retain the customers you already have. Together, we ll unlock the value of your information and generate the power you need to grow your business.
The power of partnership Experian s Prime Performance Modeling helps you know and understand your customers, find profitable new customers, and build loyalty that keeps your business growing. Working together with you, we combine the best we both have to offer in information and expertise to find the most profitable solution to your marketing challenge. Data Market-leading data from Experian, combined with your invaluable transactional data, provide a clearer picture of your customers. Depending on your application, we will recommend data from our INSOURCE SM repository, BehaviorBank self-reported database or from one of our cooperative databases, Z-24 SM Prospect Plus Database or CircBase SM Prospect Plus Database. People Experian s highly trained and experienced solutions team combines statistical modeling expertise with extensive industry experience to make problem-solving a reality. Our Prime Performance Modeling team brings solid know-how, proven client relations skills and expert consulting expertise to each project. Add your best and brightest to the mix and we have a uniquely qualified team to tackle your toughest marketing challenge. Fundraising Non-profit fundraisers face the ongoing challenge of keeping donations up while not wearing out their welcome. But asking the same people to give more is only one solution. Reactivating donors, increasing the average gift and improving donor fulfillment all result in more successful charitable campaigns. Experian has a proven track record helping fundraisers re-examine their databases to determine the distinct characteristics of different donor segments. With this insight, you can appeal to highly responsive new donors or motivate inactive donors to renew their generosity to your cause. Strategy Our consultative, inclusive approach to modeling builds on your expert knowledge of your business to create realistic solutions that never stray from your business requirements. We won t create your model in a vacuum. Your opinions, intuition and knowledge will play a major role. Process Our innovative yet simple approach to model development results in highly predictive models that maximize the benefit you gain from the data available. Our five-step process results in greater insight into your business and a clear path to successful acquisition and retention strategies. Process improvement Our reflective and integral feedback loop ensures that subsequent models build on early successes or setbacks thus creating continuous improvement in each campaign or program you implement. Together with your team, we evaluate the results of each model and enhance it for maximum performance. 3
The power behind Prime Performance Modeling Depending on your industry and your objectives, we recommend the information source best suited for your needs. The INSOURCE SM Database is the most comprehensive and accurate database of consumer marketing information available today. Compiled from over 3,500 public and proprietary sources, INSOURCE offers coverage on 98% of U.S. households and provides over 1,000 data attributes per record. The INSOURCE family of data includes individual and household demographics, census data, realty and occupation information, and much more. BehaviorBank self-reported lifestyle data provides a timely view of consumer interests, buying cycles and brand preferences on more than 35 million U.S. households. The information is collected from consumers who have submitted a survey, questionnaire or product registration card, demonstrating their mail responsiveness. This "built in" response component adds an extra measure of performance when seeking direct mail responsive prospects. Z-24 SM Prospect Plus Database is a cooperative database that includes transactional data from over 250 leading catalogers willing to share their customer data with other marketers for non-competitive offers. It is a good source for locating responsive consumers likely to buy again soon. Select by product affinity, recency or monetary criteria to target your best prospects. CircBase SM Prospect Plus Database is a cooperative database that includes data from over 275 leading magazine publishers willing to share their valuable subscriber information for non-competitive offers in exchange for royalties. With coverage on over 28 million individuals, the CircBase Prospect Plus Database makes it easy to target consumers by readership preferences which are a strong indicator of lifestyle, activities and interests. Five steps to success Prime Performance Modeling blends data, statistical analysis and consultative expertise to improve your marketing efforts. Whether you want to acquire new customers or keep the ones you already have, Prime Performance Modeling offers a solution. Our sophisticated, five-step process is straightforward and simple: 1. Data overlay and exploration First we overlay your customer data with Experian s market-leading data. Depending on your industry and your objectives, we recommend the information source best suited for your needs: INSOURCE Database BehaviorBank Database Z-24 Prospect Plus Database CircBase Prospect Plus Database Through the process of exploratory data analysis, we help you develop new insights into your customers by uncovering the complex relationships between your data and Experian s data. Combining this data unlocks hidden insights that help you formulate intelligent solutions to acquisition and retention challenges. 2. Customer market segmentation The data analysis step typically reveals not only an overall profile of your customer base but also indicates the presence of multiple distinct segments with specific behavior. These sub-segments, when isolated, make it possible for you to focus your prospecting or retention programs more successfully. In this segmentation step, we develop an accurate profile of each segment, defining its unique characteristics. As a result, you may identify profitable new prospect niches that will respond to customized offers. Or you might spot previously unknown triggers of churn or attrition that can be overcome with thoughtful retention strategies. Wireless Averaging 35% annual churn rates, wireless carriers are very aware of the problems associated with both involuntary and voluntary churn. And this volatility continues as subscribers try to find the best combination of cost, digital roaming features and coverage. In the wireless industry, a two-step modeling process has proven most effective. The first step identifies subscribers with the highest probability of churning. The second step estimates either the expected tenure or lifetime value of your current subscribers. This dual approach lets you rank subscribers not only by the probability of churn but also by a measure of value for the account. Armed with this knowledge, you can intelligently develop retention strategies to focus on the accounts that are most profitable. 4
3. Custom acquisition or retention modeling During Step 3, our Prime Performance Modeling team constructs a predictive model for each of the segments identified in the previous step. Customized to meet your specific marketing objective acquisition, retention, response, conversion, profitability, or other we produce a set of scoring algrorithms, which rank orders your customers in each market segment by your desired criteria. For example, this might be "most likely to respond" or "least likely to churn." 4. Executive summary and campaign planning You must really understand the results of your new models to use them effectively. Our executive summary and planning consultation are critical steps in helping you apply the models successfully. We provide easy-to-understand, actionable information including recommended deployment strategies. Our experts are there to make sure you understand the data and to help you use it intelligently to develop successful campaigns and programs. 5.Post-campaign services Our five-step process is never really over, because continuous improvement is part of the Prime Performance Modeling cycle. At no cost to you, we review the results of your program to determine if performance matched expectations. Together we analyze the results of your campaign or program to determine if the models are performing well. Then we refine the models and help you adjust your strategy for optimum results. At Experian, an enduring partnership with our clients is always our main goal. In some cases a single model is not enough. Based on your marketing objectives, we build multiple models to ensure that you focus your efforts where they will be rewarded. Depending on your desired outcome, we apply the most appropriate modeling techniques such as logistic regression, linear regression, discriminant analysis and artificial intelligence. Insurance Insurance providers depend on a steady stream of qualified leads to solicit new prospects through direct response offers. And then those leads must be converted to policyholders. The likelihood of success increases if the offer is timed to coincide with a significant life event such as turning 65 and becoming eligible for a Medicare supplement. Prime Performance Modeling injects new life into insurance campaigns by helping providers time their campaigns when the consumer's interest is highest and when the likelihood of responding is greatest. 5
Maximizing data value The value of data continuum Your Experian team We have assembled a team of professionals with superior analytical skills and years of experience helping diverse industry sectors successfully overcome marketing challenges through modeling solutions. With a commitment to inclusive partnership, our analysts join your experts to form a team that brings about results neither could achieve alone. Combining your insider knowledge about your business with Experian s unmatched insight into compiled data and statistical analysis results in winning strategies. We will help you understand your customers and markets like never before, empowering you to implement intelligent, dynamic solutions to today s volatile business challenges. Financial services High market saturation is making customer acquisition a difficult and costly ordeal. Experian s unparalleled expertise in the financial industry can help you target profitable new customers with pinpoint accuracy. Our approach to modeling isolates discrete customer types so you can customize your messages for maximum response. And we help you identify niche markets and targeted cross-sell opportunities within your current database that you had not recognized previously. Finding new customers is only half the equation. Keeping them is the key to long-term profitability. Prime Performance Modeling helps you minimize the fallout. We provide valuable information on the demographic and transactional profiles of your account holders that have already moved on, and then create unique scorecards to identify active customers who are likely to churn. Our customized retention models identify the patterns associated with churn so that you can take action to prevent it. Marketing solutions for a changing world The only businesses that survive in our changing economy are those that are continously focusing on the customer. Experian s Prime Performance Modeling helps you do just that. Whether it s acquisition, retention, reactivation, cross-sell, profitability or some combination of factors that concern you, Prime Performance Modeling makes a big difference in your results. We help you win in a very tough marketplace. For more information on how Prime Performance Modeling can help you, contact your Experian sales executive or call 888 446 3611, ext. 5384. 6
Experian s privacy policy Experian develops products and services consistent with our values approach to privacy. This means Experian balances the marketers needs with those of the consumer. To respect consumer privacy and to help clients reach the most appropriate audience, we utilize both DMA and proprietary mail and telephone preference information to suppress information on consumers who prefer not to receive direct marketing solicitations.
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