Market Insight improves our new customer acquisition campaigns
Altares Dun & Bradstreet helped refine their new customer acquisition strategy with the goal of passing data from new prospects to the field sales channels and passing leads to the call centers, primarily involving small business solutions.
The quality, scope and detail of Altares Dun & Bradstreet’s data, combined with a team to build the modelled universe, meant that we were able to build our marketing program in a more focused, careful and accurate way, leading to successful results."
1. The Challenge
Increase return on investment (ROI)
Pitney Bowes, an international technology company, controls billions of physical and digital transactions in the connected and borderless world of commerce. They provide data-driven marketing, parcel shipping and logistics, as well as documents, invoices and payments through data management and engagement software, geographic intelligence services and postal and document processing solutions. Altares Dun & Bradstreet has helped refine their new customer acquisition strategy with the aim of passing on data from new prospects to the field sales channels and passing on leads to the call centers, particularly for small businesses.
Altares Dun & Bradstreet has been working with Pitney Bowes for some time. This specific project consisted of identifying the most important targets, using Pitney Bowes’ own customer database in combination with D&B data, with the aim of building and maintaining specific data variables in order to give an impulse to data modelling. The main objective was to improve the relationship between telephone orders and appointments, in order to ultimately increase the return on investment (ROI).
The combined data was modelled using a patented Predictive Weight of Evidence (PWE) method, a combination of the widely recognized information theory and the Bayesian probability calculation (a way to calculate uncertainties), where all non-Pitney Bowes business data was quantified on its ability to become customers. These companies were then called by the Pitney Bowes field service call centre.
2. The Solution
Using D&B data cloud for acquisition
The Altares Dun & Bradstreet solution is usually deployed in a modified way, but to ensure the smooth running of the Pitney Bowes campaign, it was essential to combine and model the data in an accessible environment so that the customer could transfer the required data to the call centre. To achieve this, the customer’s prospect pool was set up to enter the edited data into the D&B Insight tool for further use by the customer. This gave the customer the flexibility to put the most likely prospects at the top of the call list and to be able to quickly correct the score, as the file was constantly updated to provide the sales team with leads. This was an essential part of executing the call planning activities, where that data was needed.
Market Insight is a very powerful tool to gain insight into data and to create scoring models. Altares Dun & Bradstreet is the only supplier in the market to offer the full D&B data universe, both for the international and the local market. This tool makes it possible to draw up simple prospect lists and make selections, as well as complex segmentation and market analysis.
3. The result
Initial ROI of 138.6%
Altares Dun & Bradstreet’s calculations based on orders won vs. their data pool have yielded an initial ROI of 138.6%, with a possible lifetime value of 415.9% viewed over a contract period of three years. This is significantly better than the previous activity:
The application of PWE has enabled Pitney Bowes to approach 47,500 prospects who would otherwise have missed out. 21% of the total order book in the past 6 months comes directly from this 47,500.
De toepassing van PWE heeft Pitney Bowes in de gelegenheid gesteld 47.500 prospects te benaderen die ze anders waren misgelopen. 21% van de totale orderportefeuille in de afgelopen 6 maanden is direct afkomstig uit deze 47.500.