Welcome!

Machine Learning Authors: Elizabeth White, Yeshim Deniz, Shelly Palmer, Pat Romanski, Liz McMillan

News Feed Item

WealthEngine Releases New White Paper to Help Luxury Marketers Grow Market Share by Using Predictive Analytics and Modeling

New white paper provides best practices, case studies and practical tips for Luxury marketers to apply wealth intelligence and predictive analytics to develop an effective marketing strategy

BETHESDA, Md., Nov. 1, 2012 /PRNewswire/ -- WealthEngine, Inc.™, the leading provider of sophisticated wealth intelligence and analytics announced today the release of a new white paper, "An Analytical Approach to Wealth Intelligence:  How Luxury Marketers Can Grow Market Share Using Predictive Analytics and Modeling" that outlines the value of using analytics when developing an effective marketing and prospecting strategy.

(Logo: http://photos.prnewswire.com/prnh/20101026/PH88667LOGO )

The luxury market continues to adjust to recent economic turbulence, making it all the more important for luxury brands to adapt to changing market conditions and evolving customer needs. "Current research shows that there is solid opportunity for growth in the luxury market where brands show exceptional quality, reputation and value. But with the variety of choices available and the changing dynamics of customer relationships, it's important for marketers to distinguish themselves and demonstrate a deeper understanding of their customers and market segments," explains James Dean, Senior Vice President and Head of the Luxury Practice at WealthEngine.

As Stephen Kraus, Senior Vice President and Chief Insights Officer at IpsosMediaCT's Audience Measurement Group explains, "Wealth is a powerful predictor of spending in virtually every category, particularly luxury.  For marketers, targeting and segmenting wealthy consumers has become more important than ever."  Wealth intelligence gives these organizations a deeper understanding of who their best customers and prospects are –their wealth, personal and professional interests, lifestyle, business and family– so they can be more precise and focused in reaching their audience with the right message and the right promotional offers. Custom predictive analytics go a step further and allow marketers to draw insight by analyzing actual customer data along with WealthEngine's wealth data, to expose patterns that can predict future customer behavior.

Designed for luxury marketing and business development professionals, the white paper provides best practices, case studies and a methodology for leveraging an analytic solution to find prospects that look like top customers, and to find opportunities to upsell, cross-sell and drive share-of-wallet among existing customers. Included are highlights of the wealth scores and custom predictive analytics that are available through WealthEngine, giving marketing professionals a practical guide to building an analytical approach to their marketing and prospecting.

Readers of this white paper will learn about:

  • The role of analytics in building a marketing strategy
  • Today's trends and challenges for luxury marketers
  • WealthEngine's unique approach to developing and utilizing wealth scores
  • Best practices and practical tips for applying custom predictive analytics
  • How to determine the optimal analytic solution based on your goals

Many of WealthEngine's luxury clients, from high-end fashion and jewelry to travel and hospitality, from luxury automobiles to private aviation, have seen dramatic results by using wealth intelligence and predictive analytics to build strategies to grow their business among high net worth and ultra high net worth customers. With a systematic approach to understanding their customers and prospects, these organizations are able to uncover new sales opportunities, increase customer retention and gain a competitive edge while deploying marketing resources more effectively.

"It's all about gaining greater share of wallet from your customers and building referrals off of your customer base. Using only traditional database marketing tactics just doesn't work anymore. Those luxury brands that use advanced modeling and predictive analytics to segment their customers and target their campaigns are the ones that are going to succeed in today's market," says Greg Furman, Founder & Chairman of The Luxury Marketing Council.

As Dean explains, "Ultimately, it's all about creating a closer tie to the customer. Understanding wealth and lifestyle patterns that drive possible customer consumption behavior, such as an increase in net worth or the purchase of a second home, allows marketers to uncover opportunities to reach the customer with a timely offer and a relevant message."

To learn more, download a copy of this complimentary white paper at
http://info.wealthengine.com/lm-applying-analytics.html.

About WealthEngine™, Inc.
WealthEngine, Inc. is a leading provider of sophisticated wealth identification and prospect research services to providers of luxury organizations including luxury goods, retail, jewelry, private aviation, automobile, travel, real estate, hotels & resort and art and antiques. WealthEngine is a member of The Luxury Marketing Council. WealthEngine clients also include many financial services firms and philanthropic organizations that target high net worth individuals. More than 3,700 clients use WealthEngine for comprehensive research and analytics on individuals, companies and foundations. Headquartered in Bethesda, MD, WealthEngine serves both the United States and the United Kingdom. For more information, visit www.wealthengine.com.

 

SOURCE WealthEngine

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
SYS-CON Events announced today that DivvyCloud will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. DivvyCloud software enables organizations to achieve their cloud computing goals by simplifying and automating security, compliance and cost optimization of public and private cloud infrastructure. Using DivvyCloud, customers can leverage programmatic Bots to identify and remediate common cloud problems in rea...
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, will motivate why realizing the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insigh...
SYS-CON Events announced today that Tintri, Inc, a leading provider of enterprise cloud infrastructure, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Tintri offers an enterprise cloud platform built with public cloud-like web services and RESTful APIs. Organizations use Tintri all-flash storage with scale-out and automation as a foundation for their own clouds – to build agile development environments...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
SYS-CON Events announced today that Tappest will exhibit MooseFS at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. MooseFS is a breakthrough concept in the storage industry. It allows you to secure stored data with either duplication or erasure coding using any server. The newest – 4.0 version of the software enables users to maintain the redundancy level with even 50% less hard drive space required. The software func...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that EARP will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "We are a software house, so we perfectly understand challenges that other software houses face in their projects. We can augment a team, that will work with the same standards and processes as our partners' internal teams. Our teams will deliver the same quality within the required time and budget just as our partn...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
SYS-CON Events announced today that Outscale will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
SYS-CON Events announced today that A&I Solutions has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 1999, A&I Solutions is a leading information technology (IT) software and services provider focusing on best-in-class enterprise solutions. By partnering with industry leaders in technology, A&I assures customers high performance levels across all IT environments including: mai...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...