Phoenix is radically changing the way target marketing is done. The traditional “response marketing” process of launching a direct marketing campaign and waiting weeks or months to gauge performance is now defunct.
Phoenix clients can now confidently predict a program’s response and return-on-marketing investment (ROMI) before it launches. Purchase propensity and segmentation models are developed, scores identifying high-potential targets are appended directly to lists, messages and offers are tested, and market simulations are run to provide a variety of response scenarios.
Clients have achieved such significant lifts in response rates that they now include Phoenix’s Target Marketing process in the development of all of their direct marketing programs to determine:
- Market size and forecasting
- Behavioral and attitudinal segmentation
- Product/service ownership and usage propensity
- Marketing program development plans
- Prospect acquisition
- Customer cross sell
- Attrition and defection
- New product targeting and pricing
Phoenix’s targeting work spans all needs—individual and household level consumers, business to business and geo-demographic.
Assess Marketplace: New Purchase Propensity and Segment Needs Data—Syndicated Data Collection, Custom Data Collection
Many clients are turning to Phoenix for more precise measures of prospect and client interest in their products because of the company’s unique capability to use our syndicated research data collection methods to quickly and cost-effectively deliver product purchase intentions and segment-specific needs data.
Syndicated Data Collection
Phoenix’s rich syndicated databases contain information on prospect and customer perceptions of brands, product/service ownership and intentions, purchase activities, purchase dollar volumetrics and profiling information. For example, clients are using Phoenix’s Affluent Market data to identify key Affluent sub-segments for Financial Services, Travel and Automotive marketing programs.
Custom Data collection
If a syndicated study is not currently running in the desired category, a primary research study can quickly be designed and executed within a matter of days using our syndicated research platforms. For example, clients are able to obtain information on consumers who will be receptive to “green” marketing programs using our new Eco-Segmentation Study.
Develop Response Models and Lists: ListOp Data-Fusion Models and Optimizer Overlays
The purchase propensity and segment primary research obtained through the syndicated platforms is fused together with geo-demographic from third-party sources and/or client data using Phoenix’s patent-pending List Optimization (ListOp) process to build a custom model which identifies key purchase drivers, segments and buyer spending levels. The model produces target market scores, known as Optimizer Overlays which are placed on third-party lists for prospect acquisition or the on client’s customer file for cross-selling. To learn more, read about the Affluent Optimizer Overlay.
Test Messages and Offers: Virtual Mailbox®
Clients use Phoenix’s Virtual Mailbox® to evaluate direct mail concepts prior to launch. New concepts are tested against a series of in-market direct mail packages using an online test which simulates mail delivery. This technique allows clients to identify the best combination of design, copy, offers and pricing.
Simulate In-Market Performance: Purchase Propensity Simulator, Virtual Mailbox Simulator®
Clients use data from the target audience purchase and segmentation to run a full simulation of the entire direct marketing program prior to launch using the Purchase Propensity Simulator and/or the Virtual Mailbox® Simulator. These simulations produce scenarios which combine the highest-potential audience with the most cost-effective offer to identify the optimal return-on-marketing (ROMI) for each program.
We would welcome the opportunity to discuss our Target Marketing services with you in more detail. Please contact John Schiela.
