Lead optimization for direct marketing
Case Studies / FinTech / Customer Acquisition
A client had seen a significant drop in the mail volume that qualified for direct mail. Additionally, significant processing complexity with the optimization routines was leading to delays.
Our goal was to select prospects to maximize direct mail campaign value given the marketing budget, risk, approval rate, pricing constraints.
We designed algorithm (Variant of Knapsack optimization problem) for marketing optimization problem balancing risk, response and profitability.
We reduced processing time from a few days to few minutes, while also shifting to lower risk, higher approval rates (20+%) and no deterioration in response rates.