DE-RISK MARKETING
De-risk your marketing through personalisation and campaign execution, econometrics and attribution, price optimisation and collection strategies.
Personalisation and Campaign Execution
It has never been more important to reach your customers with content that is engaging, timely and relevant to the person who’s receiving it. Whether it’s for email, direct mail or digital marketing, for customer service, Collections purposes, or for tailored content on your website, our Humanise proposition puts customer data at the heart of your targeting and segmentation, ensuring that how you communicate is as effective as what you communicate.
To deliver this type of engaging content consistently to a customer, brands must focus on gathering the information known about a customer from all sources. We will help you interpret it, modelling where necessary and then using it intelligently to send communications which engage the customer and build the relationship. This will change at different stages of the journey: knowing when to talk about new products, recommending better ways to service an account or delivering a special offer to reduce attrition risk. Success is measured by customer engagement which demonstrates that the customer values the communications rather than ignores them, consequently increasing take up of what is being offered.
Marketing Effectiveness
Jaywing’s marketing effectiveness propositions enable you to understand the true impact of your marketing spend on your bottom line. We take a complementary approach covering both marketing attribution and econometrics.
Attribution
Attribution enables you to determine the impact of marketing spend on the desired outcome, usually sales (but can be anything else). We take a data-led approach using advanced modelling techniques, building data from a customer level to understand the contribution that each channel, marketing action and any other interaction with the brand has had on the journey towards a sale. This enables marketers to act on the outputs of this information to change the marketing mix, and gives our clients a truly accurate view of the effectiveness of their marketing activity.
Econometrics
Econometrics enables you to understand the drivers of sales, both internal and external, and change your marketing plan to respond to these factors in such a way as to accommodate complex customer journeys. Where our Attribution service enables an understanding of the value of individual marketing actions, taking a bottom-up approach from individual customer actions, Econometrics takes the opposite approach, using a top-down, macro view of external impacts to understand how external factors influence sales activity. This can include competitor activity, seasonability, weather, economic activity and forecasts.
Used together, these marketing effectiveness approaches are complementary; alignment of the two models ensures that marketers have one version of the truth.
Optimisation – Pricing, Campaign Execution, Collections Strategy
Optimisation enables organisations to make the most profitable set of decisions at customer, segment or product level, subject to a series of constraints generally related to business requirements, regulatory rules and known data limitations.
Our consultancy-led approach has some powerful optimisation algorithms at its heart, using advanced mathematical techniques to generate the optimised solutions. These algorithms are fed by strong profitability and conversion models, built on your data but extrapolated and finessed to ensure that all possible predictions are intuitive and will generate a smooth set of projections across the decision space.
Optimisation can be applied to almost any business problem where a range of decisions are possible and each one has the potential to result in a different outcome. For example:
For loan pricing, determine the APR to offer to risk bands/ segments such that all price movements are intuitive and appropriate, overall profit is maximized, but while recognising the need to write at least 50% of loans at headline rate.
For outbound email campaigns, Choose the best product to promote to customers, based on contact rules, propensity to purchase, channel propensity, customer history and profitability metrics, in order to maximise the profitability or volume objective while recognising channel limitations and more granular business targets.
For broker insurance pricing, Determine the optimum level of sales commission to balance customer retention with profitability while meeting FCA rules and delivering specific business sales targets.
For product pricing, Determine the price to set for products that will maximise the income based on profit margins and sale elasticities and subject to supply constraints and business targets.
Predictive Modelling
Archetype is Jaywing’s predictive modelling platform. It uses AI to learn from your existing data, generating models which make accurate predictions about future cases. Originally built to meet the exacting requirements of banking risk models which pass muster with financial regulators, Archetype is just as adept at marketing, and can squeeze every drop of value out of your data. By using Archetype models in your marketing activity you can maximise the impact of every pound of marketing spend.
With the right input and outcome data, Archetype models can predict things like:
- Footfall and product sales projections by store
- Lapser, marketing or digital response propensity
- Product, cross-sell and channel propensity
- Demand forecasting
- CRM campaign targeting
- Lifetime customer value
- Fraud and Credit Risk
Model predictions can feed both marketing and sales activity through your CRM system and other downstream systems.
