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Net Lift Models: Optimizing the Impact of Your Marketing Efforts

Course Details
Code: BNET94
Tuition (USD): $825.00 • Classroom (1 day)
Course Details
GSA (USD): $748.11 • Classroom (1 day)

The true effectiveness of a marketing campaign is not the response rate; it is the incremental impact. That is, true effectiveness is additional revenue, directly attributable to the campaign, that would not otherwise have been generated. The problem is that targeting strategies often are not designed to maximize the incremental impact. Typical targeting models are successful at finding clients who are interested in the product, but too often these clients would have bought the product regardless of whether they received a promotion. In such cases, the incremental impact is insignificant, and marketing dollars could have been spent elsewhere. Incremental lift models are designed to maximize incremental impact (that is, the incremental lift over the control group) by targeting the undecided clients who can be motivated by marketing.

Skills Gained

  • build incremental lift models that maximize the difference in response rates between the clients who receive the offer and their control group
  • identify good incremental lift predictive variables
  • build incremental lift models using a variety of techniques
  • deploy incremental models.

Who Can Benefit

  • Statisticians, business analysts, and market researchers who build predictive models for marketing and retention campaigns

Prerequisites

  • Before attending this course, you should
  • have experience using SAS/STAT software to build statistical models.
  • have experience using SAS/STAT to build predictive models. You can gain this experience by taking the Predictive Modeling Using Logistic Regression course.
  • have experience with linear regression and logistic regression. You can gain this experience by taking the Statistics I: Introduction to ANOVA, Regression, and Logistic Regression course.

Course Details

What Are Incremental Lift Models and Why Do You Need Them?

  • incremental impact
  • incremental lift models versus propensity models

The Green Card Marketing Campaign

  • campaign details
  • the INCREMENTAL SAS macro

The Weight of Evidence and the Information Value

  • introduction
  • weight of evidence (WOE) and the information value (IV)
  • estimating WOE and IV

Generalized Additive Models (GAM)

  • introduction
  • casting GAMs as large GLMs
  • L1 and L2 penalty
  • fitting penalized non-linear GLMs with the elastic net using GLMSELECT
  • creating partial impact plots from spline-based models
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