Insurance broker Swinton Group is boosting its cross-channel attribution strategy with Jaywing, using a blend of machine learning techniques and advanced technology to drive ROI.
The deal includes use of Jaywing’s recently launched digital tracking technology Almanac.
Almanac connects online and offline data to build a complete picture of the consumer journey.
• uses advanced data tracking to predict the customer journey
• accurately predicts the customer’s next steps
• sees every interaction a customer or potential customer has with the brand
• calculates how much each customer or prospect costs to keep or convert
By adopting this approach, Swinton will be able to follow an individual’s journey across online and offline channels and attribute the right value to each interaction for each consumer, as opposed to only attributing at channel level.
This provides the insurer with an accurate understanding of its customer base as individuals, so that it can more effectively focus marketing investment and engage each in a targeted, personalised way. Jaywing will also work with Swinton to enhance their rapid understanding of marketing outcomes to drive improved results.
Stephen Cox, head of analytics and pricing at Swinton Group, said: “We appointed Jaywing because it has the right technology and data, modelling and marketing expertise to undertake attribution at an individual customer level, and to evaluate the performance of our online and offline marketing. We look forward to better understanding how our marketing investments drive valuable acquisition across all our channels, and having the tools to focus our spend better in future to achieve improved levels of ROI.”
Ben O’Brien, managing director Jaywing comments: “Joining online and offline data and adopting advanced attribution models is key for any brand who need to see the return on investment at an individual-level. We are delighted to partner with Swinton and are confident they will quickly reap the benefits of advanced attribution to make more impactful decisions, acquire customers at an optimised cost and realise better business results.”
“Our Data Scientists have unprecedented computing power at their disposal, and they are devising algorithms and models that are ever more sophisticated to help brands realise the full potential of data-driven marketing. Organisations that can harness these capabilities effectively will be able to create significant value and differentiate themselves, while others will find themselves increasingly at a disadvantage.”