ICS Analytics Identifies Best Prospects for the Fiat 500
ICS Product/Service Area: Advanced Analytics (Predictive Modeling)
Fiat needed to define key profile characteristics of “hand-raisers” for their 2011 new vehicle launch of the Fiat 500. Fiat wanted a clear picture of who was shopping for the vehicle in its infancy, and what demographic and psychographic characteristics these early shoppers might share with the consumers on their hand-raiser list. The analysis findings would then drive list purchases for a targeted postal campaign.
ICS Analytics offers advanced custom modeling tools that optimize prospect selection over single factor selections (i.e., selecting by brand competitive set shoppers). Our IBM SPSS Neural Networks modeling tools provide deep-dive, non-linear data modeling procedures that enable us to discover more complex relationships in a client’s data.
After cleaning the addresses for best possible match rates, ICS appended dozens of demographic and psychographic characteristics to the client’s database. Our Neural Network modeling procedures then were run against the enhanced purchase data … analyzing all data associations and their importance in predicting purchase behavior.
The analysis was then run against ICS’s exclusive AutoNet In-Market Shopper Data, scoring each enhanced record based on performance attributes from the model. In the case of the Fiat project, individual dealer radii were also created around the new Fiat retailers.
ICS’s final reports outlined the relative predictive strength of each variable and provided insight on how to increase productivity of prospect selection. All prospect data was scored, allowing us to rank all prospect data from “best to worst” after the scoring was completed. Counts were then provided based on “rank score indexes”. Prospect list selection was pulled based on top index ranking.
An important note is that custom models can be created and then used multiple times for prospect targeting. For ongoing prospecting needs or important launch initiatives, ICS Analytic Neural Modeling tools are an affordable and powerful way to optimize campaign performance.