develop strategies to strengthen loyalty in this core customer base and expand the company’s customer base with new loyalty strategies. On the other hand, managing customer attrition is a critical component to stemming leaks of revenue.
Delivering superior customer insights
Our experience on over 120 customer relationship engagements over the past couple of years indicates that integrating five drivers of superior performance can have a dramatic impact on business results:
Deeper customer insight: Our revenue and profitability performance based customer segmentation identifies the high value customer segments and the related drivers of that value. Our next phase includes an analysis of attrition, retention and up-selling opportunities for specific customer groups. We link this data to behavioural insights and purchase patterns to product categories.
Customized marketing and sales programs: Our insights from the customer analysis will provide us a profile of a clients most profitable customers. Our next step is to define triggers of loyalty and added value for the customer base. This is done by creating a value framework with a “bandwidth” approach to revenue potential. A higher bandwidth indicates broader product cluster may dramatically increase revenue per customer. Or a purchase frequency enhancement and acquisition strategy may be options to pursue. Our customer insights are based on deep industry knowledge to ensure our approach is grounded in relevant and proven approaches.
Strategy is Implementation: We believe that a strategy is only as good as its implementation plan. Often companies fall short in implementation because the strategy isn't grounded in the reality on the ground. Our primary focus is on durable strategies and sustainable value.
Better decisions for better results: Marketing investments today seem to have come under scrutiny of business leaders because of the intangible and long term nature of the impact of marketing strategies. The fact is consumers don’t change their behaviour overnight. Efficient management of customer touch points and continuous adaptation of customer engagement strategies with pilots that are scalable across products and services have been found to deliver the most impact.
Marketing spending effectiveness: The ROI on investments can be dramatically improved with proven processes for customer engagement, loyalty enhancement and repurchase reinforcement strategies. An effective strategy will generate tangible revenue growth and profitability for specific customer sub-segments. We believe the creating specific strategies for customer bases based on an intensive approach to creative smaller customers of customers based on future value is the key to superior marketing spending effectiveness.
We invite you to learn more about us by browsing this site, or by contacting Merril Mascarenhas at (416) 710-272 or email.