Beruflich Dokumente
Kultur Dokumente
01/18/08
Challenge: A regional Medicare supplement insurance marketer struggled with
diminishing response rates caused by poor marketing data and acquisition strategy.
Opportunity: Altair Data met with Sr. Executive team to uncover below average
data assets due to single-source consumer data provider using inadequate
database update analytics.
Client provided Altair Data with complete geography breakdown along with current
customer file including all profit markers for model development.
Altair Data builds state of the art Consumer database utilizing best-of-breed data
assets. Through database build strategy and analytics, Altair Data increases total
age-specific eligible records by 39% over Client’s current national single-source
provider.
Phase 3: Custom Profile Development
Altair uploads client customer profile in newly created Consumer database utilizing
over 980+ unique attributes across 500 million + records.
Altair takes customer profile and develops acquisition model to predict age-eligible
prospects most likely to respond to client specific mail campaigns.
Phase 5: Prospect Database Creation & Deployment
Altair runs newly created Consumer database through newly created model to
output initial open enrollment period prospect database. Client is provided with
1.2MM scored model age eligible prospects.
Client utilizes first 6 deciles of custom model for initial open enrollment mail
campaign. Client mails 485,000 unique prospects.
Phase 7: Ongoing Monthly Prospect Database Update
Client provides Altair with updated customer file each month. Altair Data rescores
model and provides Client with updated prospect database to include all newly
available age-eligible prospects along with removing all ineligible prospects due to
moving out of area, death, etc. In addition, Altair updates all remaining prospects
with new consumer attributes.
National
Consumer Source A
National
Responder Source A
National
Consumer Source B
National
Responder Source B
National
Consumer Source C
Client provides
Altair Data Altair Data
Altair Data
with current Develops custom Altair provides Client
builds
customer file Client profile&
state-of-the-art
develops age-eligible
for
Consumer Prospect Database
Profile client-specific
Database
development Acquisition model with
monthly updates
National
Consumer Source E
National
Responder Source D
National
Consumer Source F
National
Responder Source C
National
Consumer Source D
Program Benefits:
Provided client with 39% more age-eligible prospects vs. national data provider via
strongest national consumer databases
Provided greater marketing decision flexibility via pricing prospect database pricing
structure
Bottom Line Program Results:
Adding 100,000 new age-eligible prospects per month via monthly hotline
Eliminating over 75,000 ineligible prospects per month via monthly database
updates
Updating over 500,000 prospects per month via monthly database updates