Customer data is often the most valuable and frequently untapped resource for improving financial performance.
We analyze all of it, but specifically, contact info and transaction history are vital. Depending on how your company works, a customer’s transaction history might all be in one system or it could be spread out over a bunch of different software, making it difficult to access, interpret and use.
A customer’s transaction history tells you what individual clients mean to your business. It tells you what attention to provide and how to maintain and develop accounts. The data is critical to increasing purchase frequency, sending relevant offers, and developing relationships beyond anonymous transactions. Customer data is critical to maximizing the lifetime value of each customer.
We start by identifying where your client data lives. Then we pull the data together into one place, where it can be cleaned up, analyzed and prepared for use. Most of the time, data needs considerable attention to clean up, segment and standardize. However, once it’s ready, the fun begins and we get to look at your business from your customer’s perspective.
Once we have a basic inventory, you learn how many clients fall into different categories. Where it gets interesting is when you look at customers from a relationship perspective. It’s interesting because you can start communicating to each group, provoking appropriate next-step actions.
Customer analysis helps you focus on the clients who matter most to your business. The process often sparks fundamental changes to marketing practices, enabling all sorts of proactive communication, which increase sales and earnings growth.
