Case Study: Identifying who previous buyers were, and finding more of them to grow sales
The Organisation
- Residential Developer selling residential housing estates in suburban and holiday areas
- Each display house has its own database and sales function
- All of the existing advertising above the line
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The Issues
"I don't understand what type of people my previous buyers were and I don't know how or where to find more of them."
- No measured understanding of the household make up of buyers
- Potential buyers who visit two display homes are in two parallel sales processes
- No strategy to directly target potential buyers
- No way of seperating dreamers from buyers
- No understanding of the sales potential in different geographical areas
The Solution
- Sales data extracted from the various systems and formats and combined into a single database
- The buyers and visitors database was mapped to understand where they come from
- The database was segmented into different household profiles and compared to the general population. One of the identified segments was "The Dreamers"
- Sophisticated modeling software was used to rank each group of 200 houses across Sydney from 1 to 10 by their likelihood to visit a display home
- The likelihood of each type of visitor to buy was checked
- The different types of buyers for different estates was modelled
- The results were tested against actual buyers and visitors for the following 3 months
- The reliability of the model was:
- 38% of the visitors came from the top 10% of the houses
- 58% came from the top 20% of ranked houses
- 83% came from the top 50% of the houses
- This virtually eliminated half the population as not being potential buyers and identified a group four times more likely to buy
- This information is being used to both better understand the potential buyer and develop direct marketing strategies
Are you frustrated by your inability to understand your previous buyers? No idea how to find more of them? Fill out the form below and we will send you some information outlining how the data2dollars model can help you attract and retain customers. | Please fill out the form below and we will contact you shortly.
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