Allstate: Turning Data Points Into Customer Understanding - ARF Insights
Published: October 25, 2011 at 08:23 AM GMT
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Last Updated: October 21, 2011 at 08:23 AM GMT
By ARF Insights
An ARF Interview with [x+1] EVP & Chief Analytics Officer, Leon Zemel
We had the pleasure to learn about how data is driving customer acquisition online from one of the leaders in the field. We interviewed Leon Zemel, EVP & Chief Analytics Officer at [x+1] on how they were able to optimize insurance giant Allstate's online media plan to drive prospects through the purchase funnel by using data-driven insights.
ARF: Can you briefly describe the business problems or issues that led Allstate to partner with [x+1]?
Leon Zemel: Allstate wanted to gain visibility into which part(s) of their media plan contributed most efficiently to driving prospects through the purchase funnel. With this visibility they hoped to optimize toward the most successful online media and maximize its business impact.
ARF: How was data used to solve these problems? How was this approach different from what Allstate had done in the past?
LZ: The solution to Allstate's business problem involved collecting more data in one place than ever before, then analyzing the data from all angles to reveal trends and apples-to-apples comparisons across tactics, buy types, cost centers, etc. The key difference is in our platform's user-centric view, where it's possible to isolate media's impact on a prospect's behavior by levers Allstate can actually control: reach, frequency, audience and message.
ARF: What did you learn generally about online media strategy from this work?
LZ: Media strategy should be informed by how tactics performed in the past; current trends in reach, frequency, and response; and consumer-centric planning for target and message.
ARF: In your opinion, what are the key questions marketers should ask when embarking on a program to drive customer acquisition online?
LZ: The key questions they should ask are:
· How many acquisitions do I need to drive with this program, and in what time period?
· How many prospects do I need to reach to drive those acquisitions?
· At what frequency should prospects be exposed to my advertising? What should the frequency be at each funnel stage?
· Which media will reach my target audience with my target frequency? Which should it be at each funnel stage?
Want to hear more? Leon Zemel and Keary Phillips, Senior Manager, Allstate Internet Acquisition Programs & DRTV will be presenting this remarkable case study at the ARF Industry Leader Forum on October 27. Registration is open.
To communicate with or to be contacted by the executives and/or companies mentioned in this column, link to JackMyers Connection Hotline.