Are Australian marketers unknowingly wasting millions of dollars?

Tuesday, 07 July 2009 06:26

New Campaign Checkup website identifies savings and incremental revenue

Australian marketers can now identify wasted marketing campaign budget and hidden incremental revenue with the launch today of Campaign Checkup (www.campaigncheckup.com), a free online tool aimed at improving marketing campaign return on investment (ROI).

The return to the marketer is a potential reduction of costs of up to 40 percent while simultaneously improving response by up to 35 percent – seriously boosting marketing ROI.

Campaign Checkup is powered by Portrait Software’s Uplift Modelling, a proven statistical technique that can identify customers that will respond anyway, without the need for a campaign, as well as those who could be negatively affected by the marketing action. Using Uplift a campaign can deliver higher response and incremental revenue simply by targeting fewer customers, effectively reducing campaign costs.

Uplift Modelling has been proven to improve the bottom-line by companies across the globe including the world’s seventh largest mobile phone provider, Telenor; financial institutions US Bank and Lloyds Banking Group; and retail brands like Fingerhut.

‘This is an exciting time for marketers willing to question today’s marketing practises and searching for better marketing ROI,’ said Dr Mark Smith EVP Sales and Marketing at Portrait Software.

‘Hidden in every campaign are a couple of simple facts – your campaign is wasted on a large part of the target base and is also actively driving some customers to defect. Simply eliminating these elements can reduce marketing campaign costs dramatically as well as improve campaign response,’ he noted.

Using just four campaign response figures, Campaign Checkup provides a report on potentially wasted marketing effort and hidden untapped incremental responses. The addition of four items of campaign financial data enables the report to include potential annual budget savings and annual incremental revenue.

‘Marketers need to stop taking credit for customer actions that are not triggered by the campaign and stop driving up customer churn by communicating with customers,’ stated Dr Smith. ‘There’s gold hidden in each campaign but to get to it you have to turn traditional response thinking on its head.’

Campaign Checkup was designed for B2C marketers currently using control groups to measure campaign success for customer acquisition, cross-sell, up-sell and customer retention. The Campaign Checkup initiative is being launched as a three-month trial in Australia before being rolled out globally later in the year.