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MaxRev™ Behavioral Segmentation and Behavioral Profiling
Monalco LLC Services
Originally presented in 2006 at the American Society for Association Executives (ASAE),
MaxRev™ System
Email: mailto:info@monalco.com
Case Studies
Challenge: A downtown business group wanted to increase the number of visits to the area. Awareness of the area was already shown via survey to be high and repeated television and radio advertisements and promotional spots had assured it would stay so. Visits to the area however had remained fairly stable and had not increased with increasing awareness. The business group needed help with increasing visits and spending.
Solution: Monalco Marketing conducted a survey that focused on understanding who was visiting, who was not and preferred activities and services for various types of visitors and would-be visitors.
- Five visitor types were identified ranging from those dubbed ‘estranged’ (little or no interest in visiting the area and mostly negative perceptions of the area) to the ‘loyalists’ (those who gave downtown high ratings and visited frequently). In-between were those who had specialized interests or tastes, to which downtown could respond.
- Visitors types were found to have specific collections of interests as well as ‘non-interests’ that could be bundled in promotional efforts.
Results:The analyses pinpointed those visitors and prospective visitor types who were best candidates for visiting downtown. Messages and programs were generated to increase involvement with downtown among these groups. Ongoing campaigns based on the survey and analyses resulted in the formation of an online loyalist group who receives regular notices of upcoming events (already 6000 members in one year), national recognition for a week-long downtown employee appreciation extravaganza, and a restaurant promotion that netted overwhelming business for the eateries. Promotional packages relating to those interests were put together. Business leaders found the packages served to make downtown a destination and were met with great success.
“The research that is conducted by Monalco has proven invaluable to us as we develop our tactical plans each year. We are able to track the effectiveness of our branding campaigns along with the successfulness of our programs. Our stakeholders appreciate that our monitoring is fair and objective. The research is also advantageous as we move into our business retention and recruitment initiatives. The data is utilized by our organization along with our many property owners and is beneficial in providing critical data to brokers involved in selling downtown Milwaukee. This ongoing benchmark research has become a valuable tool in assessing our effectiveness and in measuring the impacts of our stakeholder investment.”
Beth Nicols
Executive Director
Milwaukee Downtown, BID #21
Accolades
Monalco LLC can truly make an impact on your business or organization. Discover what others who have used our services in the past are saying.
In their own words…
A large multinational client serving multiple industries with global operations asked us to segment their customers as part of a new product roll-out. It was a complex project, with many stakeholders, high expectations, and of course a tight timeline. Bill developed the survey methodology and performed the quantitative analysis that enabled the team to complete the project cost effectively and on time. Bill has a definite gift for explaining analytical methods so that they make sense to people who are not statisticians.
Hugh Martin, Consultant, Mayo Clinic
As President of Voltedge, Inc, I worked with Bill on a major branding project that extended over 18 months or so. Bill has developed a singular segmentation strategy for understanding customer involvement and loyalty. It is a brilliant approach. Indeed, in my experience, Bill is a most talented PhD.
Janet Ady, President, Ady-Voltedge, Inc.
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Bill McGill is a seasoned professional and a collaborative analyst who
has helped consolidate and articulate results stemming from six years of
research. His professionalism, intellect and commitment to seeing our
project through to fruition, have made him a mainstay on our team of
preferred consulting partners. I highly recommend Bill for his ability
to simplify the most complex data and deliver on critical business
outcomes.
Kimberly A. Farrell, CEO, Unlimited Performance Training, Inc.
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Bill McGill of Monalco, LLC has been a valued marketing partner of mine for many years. Previously, I served as head of marketing for a professional association in the credit union industry and together, we developed a methodology for tracking and segmenting member and nonmember behavior. This behavioral segmentation, which we named Fidelity Classification System™, was the foundation for all marketing communication efforts ultimately responsible for company top-line revenues. Now, I am marketing director for The Alliance (www.the-alliance.org), an employer-owned cooperative moving health care forward by controlling costs, improving quality and engaging individuals in their health.I brought Bill in when I started to help develop a market research function which kicked off with an unprecedented study of our members and our markets. This study has become known as Project 360 and has laid the foundation for many of our activities in member service, member recruitment, product development and brand development and marketing communications, and served as a critical input into our long-range strategic planning process. As a continuation of that project, we are designing a segmentation tailored to help us help our members understand and manage health care costs and utilization.Bill is truly an extension of my department and brings a sound analytical, science-based approach to the complicated responsibility of marketing in the health benefits field. You will certainly find Bill to be a serious analyst, psychologist by trade, who can always clearly bring the activities of marketing and serving customers back to deeply understanding and linking behaviors to actions. He is one you can certainly depend on to interpret market conditions and the impact of marketing activities for your senior leadership.
It has been a true pleasure to work with Bill and his organization; he has made me a better marketing professional which has benefited my organizations for the past several years.
Teri Schacker, Director - Marketing and Communications, The Alliance
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How Are You Using Your CRM Data?
MaxRev™ is a unique behavioral segmentation and profiling method/algorithm designed to direct short and long-term marketing efforts, to increase loyalty, improve retention and repeat business and ultimately ROI.
Just as Amazon.com might tell you about the latest John Grisham book based on your past purchases, imagine if you could tell your folks about new products or services they want…simply and precisely…based on their past buys.
Process
- Using your data (or after we help you obtain it), Monalco analyzes your members’ behaviors during a certain period (usually the past year).
- Members with similar behaviors are placed into groups.
- “Tags” are created for each group for easy classification in your CRM system.
- A hierarchy is created from the “Tags” in which each group represents a higher level of involvement and commitment (loyalty).
- Monalco updates customer tags periodically based on customer/member behavior in the most recent period.
- A behavioral profile is created to track a customer/member’s movement across tag groups over time—allowing you to direct them toward higher levels of commitment and loyalty.
Benefits
- MaxRev™ is developed for those seeking a segmentation system that allows for prediction of behavior, increases in levels of involvement/purchases and that can help you retain—not lose—customers/members.
- Significantly reduces the time and variation associated with traditional data-segmentation methodologies.
- Customizes your marketing strategy to target key groups.
- Using the behavior profiles, you will be able to identify and ‘save’ customers/members before they switch to your competition.
- By profiling individual behavior patterns you will be able to direct members toward increasingly higher levels of involvement and commitment (loyalty) and ultimately ROI.
- Saves marketing dollars because you market to specific target groups only.
