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 Overview Success Stories
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Chordiant Decision Management—Predicting Quality Prospects In order to support their marketing of a new type of car, our customer used Chordiant Decision Management to help improve the level of response from Cold List mailing campaigns The ChallengeThe objective of the mailing was to generate the highest volume of quality prospects (i.e. people who were in a position to actually buy the new type) using the Cold Lists available. The target mailing size was to be around 85,000 in total and 4 lists were chosen for this purpose. The Solution Because there were no mailing responses available from the new type's campaigns, a business assumption was used in order to identify the prospects most likely to respond. The assumption was that the best candidates would be the prospects that had the required budget, owned a specific car make and had stated they were going to purchase a car different from their current make. Even though this business assumption turned out to be incorrect, the campaign was still a success, as Chordiant Decision Management was able to select much more quality prospects than the existing method. How It Was Done Analysis of the ICD list showed that the budget was known for a little under 50% of all prospects. More importantly, it was known for only 10% of those with the required level of budget. Therefore, a scoring model was developed to predict the budget for prospects without a stated budget (over 50% of the file). Subsequently, a scoring model was developed to identify those who were Brand Disloyal, i.e. who would substitute their current (prestige competitor) car make for another. This model was then used to score all the prospects with sufficient budget and that owned one of the specified competitor car makes and models. If our customer would not have used Chordiant Decision Management for this campaign, it would have used previously successful selection criteria (a household income of over £25,000 and owning a prestige car under 5 years old). In order to give a realistic comparison between the approach using Chordiant Decision Management and the alternative approach, the actual campaign results have been compared now that sufficient responses have been obtained. The Outcome The Chordiant Decision Management model yielded the following results:
Because of these results, it was easy to justify the cost of producing the scoring models. |  | |
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