Multiple Campaign Management
Many database marketing programs are constructed as one-shot efforts - they determine the best campaign to implement now. However, more recently, academics and companies have recognized that the actions we take now influence what actions we will be compelled to take in the future, and if the current actions are not managed correctly, these future actions will not be successful. The key is to manage the series of communications holistically, taking into account the future as we design the current campaign, and to do so at the customer level. This chapter discusses “optimal contact models” for managing a series of campaigns. Many of the examples we draw on involve the catalog industry, although we also discuss examples involving e-mails, product magazines, promotional discounts, and even online survey panel management.
KeywordsResponse Model Current Period Baseline Hazard Stochastic Dynamic Program Customer Segment
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