Source: Portrait Software
Portrait Software, a leader in customer interaction management solutions, today announced Uplift Optimizer.
This revolutionary customer modeling solution gives database marketers three ways to improve their ROMI (return on marketing investment) - maximize incremental responses, reduce unnecessary waste and minimize negative campaign impacts.
Uplift Optimizer is a standalone, fully automated solution that interfaces directly with existing campaign management and statistical modeling environments, including SAS.
One of the early adopters of Uplift Optimizer is Lloyds TSB Insurance. "The ability to quantify the impact an innovative customer segmentation strategy can have on future revenues has prompted a key shift in mindset for us," said Paul Laughlin, Head of Customer Insight at Lloyds TSB Insurance. "Over recent years the use of actionable customer data analytics has delivered over $20 million of incremental profit. With Uplift Optimizer we will be able to further improve the profitability of our customer retention and acquisition campaigns, with measurable impact to the bottom line."
Uplift Optimizer is the culmination of over 8 years of focused R&D effort, and incorporates the third-generation of Portrait's unique algorithm that directly predicts the incremental impact (uplift) of marketing campaigns. The solution has been singled out for its innovation by a leading industry analyst, who recommends that, "Enterprises with significant direct-marketing budgets should evaluate the Uplift modeling application."
Recent Uplift deployments in world-leading financial services organizations have proven the massive return-on-investment that this innovative modeling approach can bring to even the most sophisticated direct marketing teams. Actual results delivered include, reducing campaign costs by 60%, increasing total responses by 20% (by eliminating negative effects) and turning a retention campaign from a 1% attrition increase to a 2.5% decrease.
Uplift Optimizer differs from traditional modeling by identifying the two most important segments for targeting - the 'Persuadables' and the 'Do Not Disturbs'.
The Persuadables - people who buy (or renew) who would have not done so if the campaign had not been run.
The Do Not Disturbs - people for whom the campaign triggers a negative response
Current response or attrition models only deliver a single scoring for the customers, from which these key segments cannot be extracted.
"Uplift Optimizer delivers the holy grail for marketers, allowing them to identify the Persuadables -- those customers truly influenced by the marketing action," said Mark Smith, Executive VP at Portrait Software. "Uplift is the culmination of many years of focused R&D effort and our work with leading financial organizations demonstrates that Uplift Optimizer can improve the results of even their most successful campaigns. The Uplift solution typically pays for itself through the increase in profitability from its first campaign."
Availability & Pricing
Uplift Optimizer is available today. The solution price starts at $225,000 and is contingent on size of customer base.