Cool Savings is launching a new service that uses a proprietary segmentation model based on geographic, demographic and behavioral data from the 24 million households in its database to more effectively target free trial offers.
The new service, Lead Generation Profit Select, aims to target online trial offers only to consumers who have a higher propensity to purchase the product or service. The new offering replicates the use of analytical data and modeling long used to support trial offers through direct mail campaigns and seeks to make use of the online channel practical for marketers who’ve traditionally used direct mail to target free offers. Without the right segmentation, such trial offers would be ineffective online due to high distribution and collection costs, the company says.
“By targeting audience segments with the highest conversion potential, CoolSavings helps the marketer maximize the sales generated from free offers while minimizing the number of leads that don’t convert,” says Matthew Moog, CEO of CoolSavings. In addition to targeting and predictive modeling, CoolSavings is able to boost the effectiveness of custom marketing campaigns with information on more than 260 data points it has collected on its registered database members, he adds.
Profit Select customers can either supply a model based on their own best customer profile for CoolSavings to use in building a targeted campaign, or have CoolSavings build a custom model generated by a CoolSavings test campaign. Zoobooks, a children's magazine, saw a 20% increase in online conversion for free subscription trial offers when it tested Profit Select. “When conversion is low, the program is too expensive to service. Using CoolSavings’ targeting abilities, we realized a lift in conversion, enabling us to rely on CoolSavings as a consistent source of new business,” says Deb Ives, online marketing manger at Zoobooks.
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