Today, large organizations across the globe are struggling to seek the answer to the three fundamental questions: who are the customers they are dealing with, their needs, and the reason why they need it. To meet the rising consumer expectations, most businesses are becoming customer-centric. The ruthless environment is also forcing the businesses to find effective ways to attract new customers, maximize the value for each customer, and retain the most profitable ones. However, to deal with such a competitive environment, businesses are devising robust customer intelligence solutions to understand their consumers better than their competitors. A customer intelligence study involves the assessment of customer behavior, which in creating informed, personalized, and insightful customer interactions. In addition, the study assists organizations to understand the customers’ profitability with special emphasis on customer expectations and preferences.
Infiniti’s customer intelligence solution helps the client understand their customers and design an effective marketing strategy. Moreover, our solution helps clients identify the best customers, lapsing customers, and how promotions impact customer purchase trends. Infiniti’s customer intelligence practice also helps business leaders uncover potential opportunities to increase customer value.
The Business Challenges
Like all other marketing firms, a leading online direct marketer was facing challenges understanding the market and its customers’ behavior. The high-cost associated with acquiring new customers compelled the client to leverage customer intelligence to gain insights on marketing, credit, product, and customer data. The client also wanted to maximize the existing customers’ lifetime value and optimize their marketing spend for greater efficiency and profitability.
The Journey
To effectively convert customer intelligence into productivity, Infiniti’s customer intelligence experts devised a robust strategy with the help of advanced statistical techniques such as data mining and challenger performance testing. Moreover, the experts also worked simultaneously with valuable customers to predict their future behavior and deploy tested customer-oriented strategies.
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Customer Intelligence Solution Benefits
- Minimize the noise caused by cross-contamination of customer segments
- Identify promotions to offer customers through the appropriate channel
- Devise actionable strategies for effective customer retention and reactivation management
- Apply customer profile techniques and insights to identify predicted response rates
- Leverage credit bureau attributes, discovering patterns, and correlations of the data to generate holistic view of its existing customers
- Enable challenger performance testing to measure the logic of new strategies against the prevailing ones
The Result
With the help of our customer intelligence solution, the client was able to deliver proven, effective customer oriented strategies, which enabled them to make the right offer to the right customer at the right time. In addition, with the combination of customer intelligence with advanced statistical techniques, the client demonstrated a better return on investment within a stipulated time frame.
