Logo

How using Synthetic Data increased Statflo’s customer targeting accuracy and ultimate sales by 16%

Dorothy He
Feature image

 

Hypertargeting tablet users with maximized model accuracy 

Case study

 

Company Profile

 

Summary

Statflo is a leading Canadian startup specialising in developing compliant one-to-one business text messaging technology, enabling businesses to have meaningful, two-way conversations with their customers. With no Personal Identifiable Information (PII) required from Statflo, Arima can consolidate both parties’ relevant data and allows Statflo to drastically improve the performance of their customer propensity models, which ultimately increases sales by 16%.

Statflo works with Arima to segment and understand the targeted audience at the most granular level to deliver an effective texting campaign.

 Results

Improved customer segmentation and model accuracy to achieve

hyper-targeting and drive texting campaign ROI

Shaking HandsSales Boost: 16%               Dollar signF1 Score Increase: 2-6 Times               Clock iconPrivacy Compliant: 100%

The Background

Statflo aims to cross-sell tablets to existing customers while ensuring it doesn't hinder the primary objective of plan renewal. Given limited customer touchpoints, accurately identifying high-propensity buyers is crucial.

The Challenge

Statflo is committed to developing a ML model to discover high potential targets who should be included in campaigns for the cross-selling of a consumer electronic product. With limited first-party data, Statflo requires a strong and credible third-party database to make the model more accurate and explainable for better campaign performance.

The Approach

The Sucess

Wearables XGBoost                                                          Tablet  XGBoost          Chart showing case study resultsChart showing case study results

*Precision Improvement ensures that text isn’t sent to customers who shouldn’t be cross-sold.

*Recall Improvement adds more high probability customers to cross sell.

Screen Shot 2022-09-06 at 4.33.57 PM

 

"Arima’s Synthetic Society database provides us with credible and impactful data signals and continually helps us to increase model accuracy so that we can give our clients better predictive guidance driving strong business results."

                                                                    --- Doug Creighton, Data Science & Business Systems Lead

 

Book a demo today and learn how you can harness the best source of 3rd party data and build better models with Arima

Download PDF