DMA06 Conference and Exhibition
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Leveraging Incremental Response Modeling to Minimize Coupon Waste and Profit Loss
Track
:
List/Database
Program Code:
F288
Date:
Monday, October 16, 2006
Time:
11:00 AM to 12:15 PM
Location:
132
SPEAKER
:
Kevin Lyons, Vice President, Analytic Technology, Harte-Hanks
Description
Results-conscious marketers continuously strive to identify the "right" audiences for their marketing programs - those most likely to respond as desired. Traditional response modeling helps to locate and target those audiences, but incremental response modeling (IRM) goes an important step further. It reveals who requires some motivation (e.g., a coupon and extra communication) in order to respond, and who
is likely to respond regardless. This vital data enables marketers to reduce costs and waste while improving incremental response (and profit) by focusing marketing dollars where they will deliver the greatest value..
LEARNING POINTS:.
- Decipher the structure and approach behind several forms of IRM (and which one works best).
- Pinpoint the tangible benefits and potential roadblocks to accurate IRM deployment.
- How to leverage IRM to improve lift in virtually any measurable marketing activity