In any concern that deals with marketing, the term ‘lift’ should be the Holy Grail. What is ‘lift’?
You’re going to do direct mail for a car dealership. You randomly select 14 postal routes around your dealership which total about 10,000 households. If you are able to moniter these 10,000 households over a period of, say, 6 weeks, to see how many of them bought automobiles similar to what you are selling, you have the ‘control’ number. Now do a list created with some form of targeting involved in its creation and come up with 10,000 households on this list. The ‘lift’ (if there is one) is the UPWARDS PERCENTAGE of buyers on the ‘targeted’ list over the same period of time for the same products.
Lack of ‘lift’ has caused many large data companies to eventually scrap many of their ‘in-the-market’ models that they spent years and money creating.
more on this subject as we move along.