System and method for increasing the effectiveness of customer contact strategies
First Claim
1. In a computer environment, a method for targeted marketing of goods and/or services of an entity to specific customers via a promotion stream, comprising the steps of:
- creating a database on a machine-readable medium, said database comprising customer data pertaining to a plurality of customers;
identifying a promotional plan spanning a predetermined time period;
analyzing, using a processor in said computer environment, the promotional plan and the customer data to determine a risk/return score for said promotional plan with respect to each of said customers;
analyzing, using said processor, the effect of cannibalization on the promotional plan; and
optimizing said promotion stream based on the analyses of the promotional plan and the cannibalization effect.
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Accused Products
Abstract
A method, and system for increasing the efficiency of customer contact strategies is disclosed. Customers are analyzed based upon historical criteria; a promotional plan (a group of promotion events implemented or to be implemented over a particular time period) is analyzed to determine the effect of each promotion event on the other promotion events in the promotional plan; and, based on this analysis, the optimal promotion stream (a specific subset of the promotional plan to be sent to customers or a group of similar customers) is determined so as to maximize the ROI of the promotional plan as a whole.
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Citations
19 Claims
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1. In a computer environment, a method for targeted marketing of goods and/or services of an entity to specific customers via a promotion stream, comprising the steps of:
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creating a database on a machine-readable medium, said database comprising customer data pertaining to a plurality of customers;
identifying a promotional plan spanning a predetermined time period;
analyzing, using a processor in said computer environment, the promotional plan and the customer data to determine a risk/return score for said promotional plan with respect to each of said customers;
analyzing, using said processor, the effect of cannibalization on the promotional plan; and
optimizing said promotion stream based on the analyses of the promotional plan and the cannibalization effect. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
classifying said customers into asset classes based on common financial characteristics; and
assigning promotional budgets for each of said asset classes based on said budgetary information.
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10. A method as set forth in claim 9 wherein said customer data includes information regarding the purchase patterns and demographics of said plurality of customers, further comprising the step of classifying said asset classes into micro classes based on said purchase patterns and/or demographics so that customers having approximately identical purchase patterns and/or demographics are classified together the same micro class.
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11. A method as set forth in claim 3, further comprising the steps of:
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predicting the expected revenue for each of said customers with respect to each of said promotions and generating a predicted revenue value for each customer/promotion combination;
calculating a promotional revenue score for each of said predicted revenue values; and
scaling said promotional revenue scores into monetary values.
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12. In a computer environment, a system for targeted marketing of goods and/or services of an entity to specific customers via a promotion stream, comprising:
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means for creating a database on a machine-readable medium, said database comprising customer data pertaining to a plurality of customers;
means for identifying a promotional plan spanning a predetermined time period;
processing means for analyzing the promotional plan and the customer data to determine a risk/return score for said promotional plan with respect to each of said customers, and for analyzing the effect of cannibalization on the promotional plan; and
means for optimizing said promotion stream based on the analyses of the promotional plan and the cannibalization effect. - View Dependent Claims (13, 14, 15)
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16. In a computer environment, a computer program product for targeted marketing of goods and/or services of an entity to specific customers via a promotion stream, the computer program product comprising a computer-readable storage medium having computer-readable program code embodied in the medium, the computer-readable program code comprising:
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computer-readable program code that creates a database on a machine-readable medium, said database comprising customer data pertaining to a plurality of customers;
computer-readable program code that identifies a promotional plan spanning a predetermined time period;
computer-readable program code that analyzes, using a processor in said computer environment, the promotional plan and the customer data to determine a risk/return score for said promotional plan with respect to each of said customers;
computer-readable program code that analyzes, using said processor, the effect of cannibalization on the promotional plan; and
computer-readable program code that optimizes said promotion stream based on the analyses of the promotional plan and the cannibalization effect. - View Dependent Claims (17, 18, 19)
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Specification