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Business Analytics and Optimization, IBM and Social Marketing

Trident Marketing Increases Revenue 1,000% with Predictive Analytics


Image:Trident Marketing Increases Revenue 1,000% with Predictive Analytics
A few weeks back I attended the IBM Big Data, Integration and Governance Forum in Charlotte, NC.  (If you haven't made it to one yet yourself, we've got more of these events coming up in a number of cities in the US and around the world.)

It's always good to hear our executives speak about how IBM is approaching the area of Big Data, the type of use cases that we're seeing businesses focus on, and learn more about the latest innovations in the fields of Information Integration and DB2 with BLU acceleration.  But the highlight for me was when Brandon Brown spoke on behalf of Trident Marketing and the results they've seen from running analytics on Netezza (now PureData for Analytics) along with support from IBM Business Partner Fuzzy Logix.

You can find much of what Brandon shared in the Trident Marketing case study, which describes some of the areas through which they have increased revenue nearly 1,000 percent through their use of predictive analytics.

Operational efficiency is crucial for Trident Marketing, which is a direct response marketing firm that resells solutions from brands such as DirectTV, ADT and Travel Resorts of America.  Spending too much on marketing (or on the wrong marketing) and having too high a customer churn rate was holding the company back from hitting their growth targets.  After deploying analytics, they saw revenue rapidly increase from the $5M plateau they had been on to $53M in just four years.

Trident deployed analytics in a few strategic areas.  One set of analytic models combines data from the company’s telephony, customer relationship management and order entry systems
with data from external sources, such as credit bureaus and clickstream data from Google and Bing.  This new level of insight led to a 10% increase in revenue in just 60 days, while also allowing them to reduce marketing costs by 30% be eliminating unproductive search terms or terms that were not cost effective.

But that's not all that Netezza and Fuzzy Logix helped them do:

What is most exciting, says Trident Marketing CIO Brandon Brown, is the use of predictive analytics to help its telemarketers know exactly whom to call, at what moment, and in what geography about what product. It will also enable the company to predict which sales person would have the best chance of closing a particular sale and which products each caller would most likely be interested in.


Check out the full case study for more details.

Link:
Trident Marketing Increases Revenue 1,000% with Predictive Analytics