Lifting sales and market share from your customer base!
To maximise customer loyalty
and value then start with your customer base and adopt one
or more of the steps below. You will need to...
Develop structured and
integrated campaigns to your active, in-active and prospective
customers, manage message relevance on a one-to-one
basis and prevent conflicting or duplicated offers
Shift from ad-hoc or fixed
timescale campaigns to customer centric campaigns, where
promotion timings vary according to customer behaviour
Establish re-activation
strategies for high-value customers that have lapsed
Identify groups of individuals
with similar purchasing patterns - combinations and
sequences - and by analysing segment overlap, create
the right offers for each segment for cross and up-sell
Develop a deep understanding
of prospect and customer behaviour. Use this to see
how interests, email click thrus', trading recency,
frequency and value, etc. combine and change over time
to predict response, sales, churn..
Create a framework to
measure and refine segmentation, offers, content, personalisation,
etc. Use this to facilitate a 'contestant' > 'contender'
> 'champion' approach to continually improve campaign
performance and marketing ROI
Undertake on-going response
modelling and deploy resulting propensity scores to
every individual on your database. This will enable
you to select only the most likely responders for your
campaigns and use the profiles of these people to acquire
more responsive external prospect lists
Apportion marketing investment
at an individual customer level - using measures such
as customer lifetime value, purchase history, behaviour
change, propensity to respond, etc.
To facilitate these tasks,
your data, systems and infrastructure must provide the flexibility,
functionality and adaptability needed.
This can be
difficult to achieve, especially if your data is stored
in separate locations and you don't have skills and resources
of the right kind.
However,
we can help you overcome these difficulties with our on-line,
hosted and fully maintained database marketing solution
- The Targeting Workbench - or supply the underlying FastStats
Discoverer and supporting technologies.