How Uplift Modeling Can Help Improve Your ROI
"[I]n an effort to reach as many customers as possible at minimal financial cost," writes Mark Smith at Chief Marketer, "many marketers overlook the pricey consequences that can result from sending mass, untargeted emails to their entire audience."
To help you avoid that outcome, Smith recommends uplift modeling, which predicts how marketing campaigns influence the behavior of your subscribers.
"Uplift modeling has helped US Bank better target its customers, and as a result, it has reduced its mailing volumes by up to 40% and has achieved a five-fold increase in campaign return on investment compared with existing programs," he notes.
Uplift modeling divides subscribers into four groups, Smith explains:
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