July 15, 2019 at 2:35 PM
What is Genius Leads?
Principa’s Genius Leads is a POPI compliant provision service of South African consumer leads. We use advanced analytics and Machine Learning to optimise lists of new or existing marketing leads, so you target your most desirable customers and those profiled as most likely to respond to your campaign – improving campaign take-up and long-term customer profitability.
Why does analytics improve results?
When using a large database for a marketing campaign, a key objective is to identify and remove high risk or ineligible prospects, in order to minimise time and resources spent on leads that won’t result in ROI. You need to eliminate those who are unlikely to be interested, and in doing so you will improve your response rates: making your campaign more profitable. You also want to identify the leads who are most likely to become good, high-value customers, in order to focus your efforts on the leads that will improve your company’s bottom line – and the longer they stick around, the better.
Without data analytics, all you have is a list of names and a lot of information associated to each lead. But with a data-driven approach, you can identify marketing lead lists made up of prospects who will be worth your while, and lists containing the leads which you should rather not focus on. You can rank your universe according to the measures important to you and select the best set of leads.
What data do I need to maximise the value from my selection campaigns?
In order to develop the predictive models required to identify the leads you need to go after, you’ll need the following data:
- Contact data of all prospects that were contacted (either by campaign or month). The more data you have, the more accurate the models will be. This can include:
- Dialler data for previous outbound campaigns. This will include who was contacted, when they were contacted and what the outcome of the call was.
- SMS data, including who was SMS’d, when and whether the SMS was delivered?
- Mailing data: A list of customers that were mailed and when.
- If multiple channel data is supplied, channel flags are required – this will allow for ideal channel selection.
You will also need response or sales data that includes who responded to the campaign offers and who took it up. Payment data will also be very important: monthly payment history in order to identify good and bad payers. This data should include cancellation dates, written-off flags etc. Having a unique key across all of these datasets to be able to merge them together is of utmost importance. Often ID number is the best unique key to use and also allows you to enrich your data further using Bureau data or public domain data to help profile your leads.
How do I ensure selected lead information is complaint?
Predictive models can be applied in two ways in order to provide you with a list of leads. The first would be to use your existing marketing lead database to refresh lead information like updating contact details, profiling them by quality, behavioural fit and the likelihood of responding to your offer. This allows your business to take your (already compliant) list and prioritise your marketing efforts to where it would be best spent.
The other possibility would be take a POPI compliant consumer lead list of South African leads, and finding the segments that best match your ideal customer profile. This would be a combination of the right behavioural fit and those with the highest likelihood of responding to your offer.
Why does Genius Leads suggest SACRRA membership?
As a SACRRA member, your business can participate in South Africa’s richest and ever-growing shared database of credit and risk information, which is updated monthly with over 50 million records, and ensures compliance with NCAA in terms of data sharing obligations, affordability and credit and risk assessment requirements. Although not a requirement for our Genius Leads offering, membership is suggested, as it provides access to updated and accurate customer contact details and the above mentioned compliance regulations.
What customer contact channels do I need to have available in my company to make use of Genius Leads?
If you are making use of an outbound call centre or digital channels only, or a combination of both, we are able to meet all of your requirements.
Genius Leads also has an integrated, fully digital, Artificial Intelligence Chatbot acquisition platform within our Genius leads offering. This is available to companies that are wanting to expand their acquisition channels in the digital sense, which caters for obtaining full consent from the customer and ensures complete POPI compliance, which allows customers to proceed to point of pre-approval whilst acquiring your company’s product. The customer experience is one of efficiency and speed and ensures that your company only receives those potential new customer leads with the highest propensity to convert into an actual customer.
What are the volume requirements in order to make use of your Genius Leads offering?
The minimum volume requirements are largely dependent on the type of leads required and the product and industry that the leads are being used for.
Contact us further in order for us to understand how better we can meet your needs.