“ This predictive model allows us to spend our marketing budget on those channels, messages and approaches that create the highest value, which puts this money to the best-possible use. ”
Shedding light on the future
An insurance firm for funeral services, DELA boasts 4.000.000 customers in Belgium and the Netherlands. To take marketing budgets farther and enable bigger impacts, DELA asked delaware to develop a customized prediction model capable of calculating the expected returns on marketing campaigns.
Using DELA’s contract and payment data combined with historical marketing campaign data (online, offline, channel, timing, message, target group, etc.) and results, delaware created a statistical model with an impressive 82% accuracy rate.
delaware selected Microsoft Azure’s built-in machine-learning tools and capabilities to process and analyze the training data.
Optimizing returns on marketing investment
The model allows the DELA marketing team to spend its marketing budgets on those channels, messages and approaches that result in the greatest predicted return – for more growth with fewer resources.
Going beyond marketing outcomes
And now we can go even further: the team can also start from a desired return, and the model will then calculate the best combination of target groups, timing, channel mix and budget to achieve those results.
DELA Chief Marketing Officer Marysia Kluppels: “Now that the predictive logic is in place, we can change the questions we ask. For example, if we ask ‘what is the optimal marketing mix needed to realize a 10% growth in customer base?’, the model will tell us which variables to adjust. This approach combines both the art and science of marketing.”