Do you fully understand how your business strategy will impact on the long term performance of your customer base?
Many businesses have become more customer centric – recognising the benefit of building strategies that align to the needs of their target audience.
However, your customer base is complex with changing and evolving needs across the lifetime of each different customer type. Understanding how different strategies might impact long term performance is challenging but critical to ensuring success. For example, solving an acquisition problem now may lead to a churn problem in the future if you acquire the wrong sort of customers.
Identifying and leveraging emerging trends, new revenue opportunities and shifting touchpoints is more important than ever – both to re-engage customers and build momentum into peak trading periods.
We can model how your customer strategy (or loyalty scheme) will perform over the longer term.
What your business might be facing…
We utilise deep dive analytics and data science to test hypotheses; identify revenue opportunities and scenario plan with a focus on sustainable benefits.
Hold a series of stakeholder workshops to understand your current customer strategy; how this has/will shift in the future and the concerns/questions the business wishes to explore.
Undertake a deep-dive into current performance and associated levers across different customer types. Depending on the requirement this might include one or more of the following:
Analytics deep dive into current vs historic performance by customer segment
Predictive modelling to look at how behaviour may change in the future
Market research to add a richness around changing customer attitudes and motivations
Neuro-science to identify the key levers within the category and brand
Build a decision support test framework that brings together the outputs from ‘Investigate’ to enable the impact on the customer of different scenarios to be assessed.
Work with cross functional teams to build the business case for formulating the ‘change plan’ which may include redesigning the loyalty scheme; a shift in acquisition strategy or development of a new product.
See it in Action...
GOT A QUESTION?
We'd love to hear from, if you have any questions then please don't hesitate to contact us