WHAT WE DO / SOLUTIONS BY FUNCTION
Customer Management
Customer Strategy
Strategy for Maximizing Customer Loyalty, Retention & Value
Once the broad customer segments are identified, along with its specific goals, marketers can define a strategy for each segment – including different communications, rewards, controls, budgets, and organization. Each segment differs in profitability, as well as needs. Segment strategy development begins by understanding the segment size, potential value, and the best way to reach the segment’s customers.
Acquisition
The best way to increase customer loyalty is finding and acquiring the right customers: those who provide a steady cash flow and profitable return on investments for your company year after year. According to Frederick Reichheld, the author of “Loyalty Effect”, “some customers are inherently predictable and loyal, no matter what company they are doing business with. They simply prefer stable, long-term relationships”. LatentView’s look-alike customer acquisition models help you identify customers who tend to be loyal or profitable and target them for acquisition.
Enhancing Loyalty
Once you have acquired a customer, there are other ways of making them valuable: treating loyal customers better (by providing them superior service, lesser waiting time at contact centers, etc.), and rewarding loyalty with points or benefits (based on customer’s life stage, needs and value). Whatever be the loyalty strategy, LatentView can help you design and implement the right program, and ensure that appropriate test and control framework is created to measure success and drive continuous improvement.
Retention & Win-back
Retention models can help you identify customers who are at risk of attrition, so that you can make them the right offers at the right time to profitably retain them. Win-back models help you identify lost customers who are likely to be activated again.
These models also provide insights about the underlying demographics and behaviors that identify at-risk customers or those likely to be won back. These insights can be used to design the right retention and win-back strategies for different customers.
Cross-Sell & Up-Sell
LatentView can leverage your customers’ behavioral data to help you develop predictive models that can suggest the next logical product or identify who to target (response models) so that you can make the right offer to the right customer at the right time.
Whatever be your customer strategy, LatentView can create the predictive models and provide the analysis that help you implement the strategy effectively.
Customer Management
Customer StrategyStrategy for Maximizing Customer Loyalty, Retention & Value
Once the broad customer segments are identified, along with its specific goals, marketers can define a strategy for each segment – including different communications, rewards, controls, budgets, and organization. Each segment differs in profitability, as well as needs. Segment strategy development begins by understanding the segment size, potential value, and the best way to reach the segment’s customers.
Acquisition
The best way to increase customer loyalty is finding and acquiring the right customers: those who provide a steady cash flow and profitable return on investments for your company year after year. According to Frederick Reichheld, the author of “Loyalty Effect”, “some customers are inherently predictable and loyal, no matter what company they are doing business with. They simply prefer stable, long-term relationships”. LatentView’s look-alike customer acquisition models help you identify customers who tend to be loyal or profitable and target them for acquisition.
Enhancing Loyalty
Once you have acquired a customer, there are other ways of making them valuable: treating loyal customers better (by providing them superior service, lesser waiting time at contact centers, etc.), and rewarding loyalty with points or benefits (based on customer’s life stage, needs and value). Whatever be the loyalty strategy, LatentView can help you design and implement the right program, and ensure that appropriate test and control framework is created to measure success and drive continuous improvement.
Retention & Win-back
Retention models can help you identify customers who are at risk of attrition, so that you can make them the right offers at the right time to profitably retain them. Win-back models help you identify lost customers who are likely to be activated again.
These models also provide insights about the underlying demographics and behaviors that identify at-risk customers or those likely to be won back. These insights can be used to design the right retention and win-back strategies for different customers.
Cross-Sell & Up-Sell
LatentView can leverage your customers’ behavioral data to help you develop predictive models that can suggest the next logical product or identify who to target (response models) so that you can make the right offer to the right customer at the right time.
Whatever be your customer strategy, LatentView can create the predictive models and provide the analysis that help you implement the strategy effectively.
