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TRANSCRIPT
FINAL PROJECT – PROMEDICA CME
Anqi Wu (Chloe)
Lingqi Zhou (Amber) SPRING 2015
Niveditha Kumar
Qianqian Lin (Hilda)
AGENDA
¤ INTRODUCTION
¤ MODEL
¤ TESTS & INSIGHTS & PREDICTIVE MODELS
¤ RECOMMENDATION
¤ GAPS
INTRODUCTION
ProMedica CME
¤ CME = CONTINUING MEDICAL EDUCATION
¤ Continuing medical education programs provider
¤ Cardiac surgery, cardiology, interventional cardiology
¤ Ultimate goal of all CME activities:
enhance the quality of patient care
INTRODUCTION
ProMedica CME
INTRODUCTION
Opportunities of Expansion
Customer data
Registration data
Meeting data
Campaigns data
Events data
Links
What we did
INTRODUCTION
Conceptual model
Gaps
Recommendation
Operational Model
Predictive models
Tests for insights
MODEL
Conceptual Model
Model
Defining Target Market
Marketing Efforts Attendence Revenue
Operational Model
Model
Defining Target Market
• Practitioners associated with cardiology or other specialties as well?
Marketing Efforts
• retention/acquisition
• type of marketing activity
• Return on investment (ROI)
Attendance
• attendance count
• revenue (income from attendance)
Revenue
• Increased or decreased revenue from all of the previous steps
TESTS & INSIGHTS & PREDICTIVE MODELS
Customer & Country
INSIGHTS
Country! US! Germany! France! UK!Percentage! 68.4%! 3.4%! 3.0%! 2.6%!
!
Customer & State
INSIGHTS
State! CA! TX! NY! FL!Percentage! 29.5%! 10.2%! 8.7%! 5.0%!!
Customer & Specialty (1)
INSIGHTS
Specialties Unsubscribed
Cardiovascular Surgeon
Interventional Cardiologist
Industry Cardiologist Cardiovascular and Thoracic Surgeon
% 17.3% 14.1% 12.2% 11.1% 8.0% 5.5%
Customer & Specialty (2)
INSIGHTS
• Combined the “campaigns”, “events” and “customer” sheets
• Deleted entries that marked as bounced, unsubscribed, undeliverable, do not mail and those lacked customer ID.
• Deleted entries that are sent but never opened or clicked.
• A data set with customers who actually would open or click emails from ProMedica - can be considered as existing customers.
Top Three specialty Interventional Cardiologist Cardiovascular Surgeon Cardiologist !
Customer & Specialty (3)
INSIGHTS
Specialty Mail Deliverable
Cluster 1 (66.4%)
Cardiovascular Surgeon, Cardiologist
Do mail (100%) Deliverable (100%)
Cluster 2 (33.6%)
Unsubscribed (32.2%), Industry, Cardiovascular Surgeon
Do not Mail (89%) Undeliverable (98.7%)
Meetings
! Duration! Attendance! Location! Month! Frequency!Cluster(1! 2"days"
(48.4%)!380! CA#(53.3%),#!
AZ#(20%)!Oct$(40%),!Sep$(20%),$Nov$(20%)!
1"3"times"a"year!
Cluster(2! 3"days"(25.8%)!
342! TX,$Houston$(100%)!
Mar$(87.5).!April&(12.5%)!
Once%a%year!
Cluster(3! 6"days"(25.8%)!
232! CO,$Snowmass$Village'(100%)!
Mar$(100%)! Once%a%year!
!
INSIGHTS
Email campaign
INSIGHTS
! Sent! Open%rate! Click&rate!Cluster(1((48.8%)! 806.74! 26.60%! 2.81%!Cluster(2((47.3%)! 4229.25! 24.56%! 1.49%!Cluster(3((3.8%)! 7308.13! 26.50%! 2.18%!
!
Email campaign
INSIGHTS
¤ Length of Subject, url
¤ Date Sent
¤ Time & Day the email was sent
PREDICTIVE LOGISTIC MODEL①
Model
COMBINED
DATASET
Registration
Events Campaign
Meeting
u Predict whether a customer would come to the meeting or not
PREDICTIVE LOGISTIC MODEL①
Model
Predictors
¤ Registration type
¤ Specialty
¤ Email activity type: bounce, click, open, send, unsubscribe
PREDICTIVE LOGISTIC MODEL①
Model
Training Data
50%
Testing Data
50%
PREDICTIVE LOGISTIC MODEL①
Model
Training Data 80% Accuracy
significant
Testing Data OVERFITTING
PREDICTIVE REGRESSION MODEL②
Combined Data
Training Data (50%)
Testing Data (50%)
Model
u Predict how many people are likely to open the emails
PREDICTIVE REGRESSION MODEL②
Model
Target Variable Predictor
Email Opens
Sends
Bounces
Date Sent
Length of Subject
PREDICTIVE REGRESSION MODEL②
Model
Descriptive Statistics
N
Predicted Value 363
Opens 391
Valid N (listwise) 363
RECOMMENDATION
Primary target customers
¤ Primary audiences
¤ Provide content suitable to US Market
¤ Follow the breakthroughs & new regulations
RECOMMENDATION
US local market (68.4%)
California (29.5%) Texas (10.2%) New York (8.7%)
Primary target customers
¤ Top 3 specialty
¤ Provide more content in related topics
¤ Higher acquisition rate
¤ Expansion?
RECOMMENDATION
Cardiovascular Surgeon (14.1%)
Interventional Cardiologist (12.2%)
Related industry (11.1%)
Meeting types
¤ Most popular meeting
RECOMMENDATION
Higher frequency:
1-3/year
Shorter duration:
2 days
Email Marketing
¤ Relatively high bounce rate: wrong email address
¤ Delete & Update to save time and cost
¤ Create a VIP email list
RECOMMENDATION
ProMedica CME Benchmark Performance
Open Rate 29.06% 22.82% +
Click Rate 4.53% 2.92% +
Bounce Rate 7.10% 0.77% -
(Benchmark: MailChimp Research)
Direct Post Mail
¤ Undeliverable addresses
¤ Delete: undeliverable email & mail addresses
¤ Ask customers need both contacting method
RECOMMENDATION
Utilize social media
RECOMMENDATION
¤ Mobile is a driving force
(Laudenslager, 2013)
81% Use smartphones
62% Use tablets for professional purposes
90% Use social media professionally or personally
38% Use medical apps on daily bases
¤ Use social media for campaigns
¤ Create contents
GAPS
ROI
GAPS
¤ ROI: Return on Investment
¤ Important Indicator
ROI
GAPS
Cost
Email Marketing
Labor
Facilities
…
Direct Mail Marketing
Labor
Letters
…
Hosting a conference
Rent
Labor
…
ROI
GAPS
Revenue
Registration fee
Partner hospital
Advertisement & Sponsorship
ROI
GAPS
¤ Only have REGISTRATION FEE
¤ Missing data: Registration fee paid by hospitals
Contributors for participation
GAPS
¤ Attracted by email marketing
¤ Attracted by mail marketing
¤ Required by hospitals or organizations
Contributors for participation
GAPS
¤ Data should be collected
¤ Improvement on the content/marketing
Meeting Data
Sponsored meeting? hospital partnered meeting
Customer Quick survey after attendance
Why they came
Rate the meeting
Email Content
Content analysis Relate it to open & click
Better insight of campaign
Data collecting process
GAPS
¤ Increase accuracy
¤ Increase efficiency: save time
Data collecting process
GAPS
Typo • Choose rather than input
Wrong Email Address • Email verification
Data Input • Start with related Meeting ID for campaign name
THANK YOU! Q&A