Dun & Bradstreet’s Market Insight Improves Pitney Bowes’ new client acquisition campaigns
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Pitney Bowes, a global technology company, powers billions of physical and digital transactions in the connected and borderless world of commerce. They enable data-driven marketing, parcel shipping and logistics, and statements, invoices and payments through data management and engagement software, location intelligence offerings, and shipping and mailing solutions.
Dun & Bradstreet have been working with Pitney Bowes for some time, helping them refine their new client acquisition strategy to provide scored prospect records to their outbound sales channels and drive leads to their call centres for their small business solutions. The activity was to identify prime targets, using Pitney Bowes own customer base combined with D&B data to build and maintain specific data variables to help drive data modelling. The main objective was to improve the call-to-order appointment ratio and ultimately campaign return on investment (ROI).
The combined data was modelled using a patented Predictive Weight of Evidence (PWE) method that combines widely recognised Information Theory and Bayesian Probability (a way of quantifying uncertainty), scoring all non-Pitney Bowes company records by the propensity to become a customer. This data was then called via Pitney Bowes’ outbound call centre.
The D&B asset is virtually always used in a custom way, but to achieve the smooth running of the campaign for Pitney Bowes it was essential to get the data combined and modelled in an accessible environment for the client to pull down the data as it was needed through to the call centre. For this purpose the custom prospect pool was built, then delivered pre-loaded into the D&B Market Insight tool for ongoing use by the client. This gave the client the flexibility to be able to pull those prospects ranked the highest first for the outbound calling, and to quickly re-score as the file was updated to constantly fill the lead funnel, which was an essential part to running the activity where call plans were set and needed the data to fulfil.
Market Insight is an extremely powerful data visualisation and modelling tool, and D&B is the only provider who offers this solution in the market, with the full D&B data universe both at a global and local market level. The tool allows for basic list building, selections, through to complex segmentation and drill down for full market analysis.
D&B calculations based on won orders vs. their data pool have delivered an initial ROI of 138.6% with an eventual lifetime value of 415.9% when viewed over the contract period of 3 years. This has significantly outperformed the previous activity:
- For the last year 78% of the orders secured have come from prospects which scored positively using PWE.
- Use of PWE has enabled Pitney Bowes to target 47,500 prospects that would otherwise have been missed and 21% of the total orders in the last 6 months have come from this 47,500.
Speaking on behalf of Pitney Bowes, Andrew Ford, VP for Marketing and Communications, Europe, said “This activity exceeded our campaign average when viewed against past campaigns. The quality, depth and detail of the data from Dun & Bradstreet combined with a team to build out the modelled universe meant we could be more targeted, precise and accurate in our marketing programme, resulting in a more successful outcome”.