Heavy Equipment Manufacturer Boosts Conversions with Predictive Analytics
A multinational Construction & Mining Equipment Manufacturer partnered with Bounteous to create a propensity model integrated with their CRM and web analytics to identify high-value customer segments. By focusing on these customer segments, there was a boost in lead capture and an increased purchase rate.
By The Numbers
- 2XIncrease in lead capture
- 23%Increase in purchase rate
Challenge
The building construction division of a multinational Construction & Mining Equipment Manufacturer faced a challenge in identifying the user segments that contributed most to their business growth. An in-depth analysis and applied machine learning was needed to provide a higher level of understanding for user behaviors so they could increase the effectiveness of their marketing efforts.
Solutions & Impact
A strategic approach was developed to focus on identifying potential buyers. To start, a key driver analysis was conducted, and a purchase propensity model was created to identify the users most likely to purchase. By integrating their CRM data with web analytics, we identified the key behavior signals of users before they made their final purchase.
Based on these insights, a product propensity model was built to enable the client to refine their bidding strategy and create specialized, targeted audience segments aimed at users who were most likely to consider an equipment purchase. This targeted approach ensured that campaigns were more efficient and effective in engaging the right buyers.
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