Acquiring new customers is much more expensive than increasing the value of existing customers. Hence
real revenue and long term profitability come from increasing share of wallet by maximizing the
relationships that businesses already have.
LatentView's and
solutions can help companies maximize the value of their
customer relationships.
Segmentation & Profiling
Getting to know their customers and their needs and expectation is the critical first step in
developing a long-term profitable relationship.
Even with advances in segmentation, managers are still relying on experience and judgement to make important
targeting decisions. Today's marketers are struggling to find answers to some of the questions below:
- How do I identify brand attitudes, needs and wants of each customer segments?
- How can I compare the characteristics of different segments to determine segment-specific actions?
- What is the risk, profitability and channel usage of each of my customer segments?
Segmentation solutions, driven by
helps you identify distinct customer segments who appear similar, based on customer needs, attitudes,
behaviors and demographics, in ways useful for marketing and CRM. To be more effective, you can
utilize segmentation not only in selling but also in effectively managing the post-sales relationship, for example,
in differentiating customer service or customer interactions based on service needs. In general, segmentation can be used for
any customer interaction where there are multiple options for the interaction.
Such precise segmentation lays the foundation for differentiated treatments leading to lasting customer loyalty and increased value.
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Cross-Sell and Up-Sell
Companies have long known that cross selling is one of the quickest ways to
ensure long term profitable growth. They can increase the value of their customers vertically by selling more
of a particular product or through value-added services. Or they can accomplish this horizontally by marketing
across product lines.
To effectively cross-sell, marketing and sales managers need to determine answers to questions such as:
- Which customers are good candidates for cross-selling?
- Which products are most appropriate?
- What is the best time and channel to make an offer?
- How can I precisely target my cross-sell offers to reduce the possibility of customer fatigue?
LatentView's cross-sell solutions can help you determine precise answers to these questions. These solutions use
to estimate the propensity of a customer buying a certain product at a certain time, given his needs and past purchase behavior.
By integrating this into every day decision making, we can help you personalize customer treatment, optimize every customer
interaction and maximize revenues.
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