When it comes to driving customer value, we have found that there are 4 priorities that come up irrespective of which industry we’re talking to – Retail, Ecommerce, Hospitality, Telecom, Financial services. These are:
We help establish baselines and targets for key customer-centric goals such as:
- Drive repeat and retention
- Drive value and width
- Drive cross and up sells
- Drive engagement and referrals
- Improve our knowledge of the customer
- Use the insight to drive all functions
Know them better:
We help brands capture, collate, and enhance their knowledge of the customer. A task that requires dedicated and long term effort, and continual monitoring, it spans building the customer one view on existing data, adding imputed and derived variables, building in feedback and survey data, adding web and social data, and adding data from other sources in the enterprise.
Mine for Insight
Given a view of the customer, the analytics that helps drive the various goals set. The main analysis needs that crop up often are:
- Clustering and segmentation, profiling
- Predictive models for repeat, response, churn
- Adoption and customer journey
- Cross and Up sells
Given the analytics and insight, we spot opportunities in the data that lend themselves to campaigns or other marketing action. In all of these we look to stay relevant with appropriate messages reaching the customer at the right time, long tail event triggered campaigns, campaigns that focus on relevance more than discounts and offers, testing of media-message-timing.
Monetise the Relationship
Finally, in our quest to drive customer value we track and report the incremental and ROI. Incremental sales, impact on the KPIs of repeat and retention etc., lifetime value movements, NPS scores and feedback, referrals.
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