Intelligent Customer Segmentation Wins Big Leads
Epson is a global electronics company, and one of the world’s largest manufacturers of computer printers, information and imaging related equipment. Epson Europe, based in Düsseldorf, Germany, are the European division of the printer giants.
Epson Europe’s marketing team had a huge base of data which has segmented customers into either B2B or B2C customers, however it was know that many of the labels were inaccurate. Epson wanted to reclassify their list so marketing messages could be more appropriate, but knew they would never have time to do so by hand.
Objective built a customer segmentation model for Epson Europe which takes data from sources such as domain, web activity, email opens, previous purchases as well as lots more information to intelligently decided whether a customer is B2B or B2C. This data collected, alongside a gold standard provided by Epson of some hand labelled customers allowed the model to reclassify thousands of wrongly labelled contacts.
50k contacts were reclassified, 30k from B2C to B2B, 20k from B2B to B2C. 14k contacts’ lead scores increased.
The result of this reclassification was an increase in hot leads due to increased relevance of content in marketing material. This includes an addition of over 1.5 million euro of sales during the testing period alone that can be attributed to the reclassification model.
Products and Technologies Used
R, Online behaviour / email / demographic data etc