“If you don’t have a competitive advantage don’t compete” – Jack Welch
Making decisions on a daily basis has become a norm of organizations of today and making it without the backing of facts and data is “shooting in the dark.”Businesses cannot afford to continue making decisions without deeper insights especially in the current business environment where the competitors are a click away. Making use of wealth of data with the help of latest data mining tools and analytics is the much needed light in the darkness.
A process breakdown offers metrics and indices that helps us in real-time monitoring and analysis. The integration of external factors which are relevant to business types makes it handy for decision making processes. Predictive analytics with external factors and the internal performance metrics will help in making smarter management decisions. The tools arrived are complete management dashboard, predictive analytics and scenario simulators. A combination of all these with efficiency algorithms will make all the decision making well informed and backed by facts.
We help you in solving Risk, Contingency, Marketing and Sales related analytics. We also help build in HR process analytics for the right fit and dash board for all services and metrics.
The real assets of any organization are their customers. But the real value of the customers in monetary terms always takes a back seat in any decision making process. The customer entry into the system and customer loyalty are the key factors in terms pricing, offering and engagement. The retention factors play an important role in upselling and cross selling for multiproduct organisations. The factors that play a role in conversion and retention are the primary parameters that an organisations should focus on enriching the core.
The customer life time value captures all of the retention, conversion, and attrition factors and builds a financial model to value the customer. This helps in increasing revenue by simply identifying opportunities for upselling and cross selling. This tool will help in identifying the most profitable segment within the micro segmenting and device plans to target those segments. By creating flexible loyalty management programs using the inputs from the customer life time value we could strengthen the attrition factors and retain customers for a longer period comparatively.
We help in building a model which will microsegment your customer base the lowest denominator and value your customer better than the current systems.
It is a paradox not everyone are customers but the opinions of non-customers matter to businesses and the perception of the most matters. They might influence consumption or influence opinions regarding consumption. The best marketing strategy is to help customers buy products and services rather than push sales to the customers. Now taking all these factors in mind a conventional marketing strategy would consume a lot of resource in terms of time and finance. At the same time companies who own data collection and monitoring of all the customer touch points are best placed to leverage the data available and target precisely the customers, consumers and influencers.
With micro segmentation using analytics, companies can drive marketing function more effectively than the conventional marketing practices. Target customers are broken down on Behavioral categories and the influence of all these categories are enumerated. Then a program is designed on the enumerated parameters which will matter to customers more than the conventional method of segmenting targeting and positioning approach.
The micro segmentation based marketing plans and promotional plans will help customers to help themselves to engage with the brand better and be profitable over a period of time. We help not only creating micro segmentation and planning but also ascertain a customer’s worth.
“The purpose of a business is to create a customer” – Peter Drucker
Are we a car manufacturing company or a lifestyle company that makes automobiles? What concealed also holds highest degree of precision and style, this may be the unique selling points for lot of luxury brands. Unfortunately quality and appealing to senses of offering does not only belong to luxury brands but also for all products and services.
Organizations have increasingly realized the importance to own every customer touch points related to the products and services they offer. The whole cycle throws data which perfectly capture every aspect of customer attributes that lead to the buy. But only if the data is customer centric it can throw any meaningful insight about the customer and his relation to the product the company sells.
Typically companies have data revolving around production, distribution and finance. ERP’s can handle only transactional data. Owning every touch points also becomes meaningless if they can’t capture data in a continual basis. What matters to customers in terms of appealing to their senses or enriching their lives is more important than all the transaction the organizations make.
Analytics helps organizations outsmart their customers by getting deeper customer insights and build products satiate the senses. Customer insights are the key to unlock the hidden potential of businesses. We not only analyze and bring out the insights but help in strengthen the factors.
“Not everything that counts can be counted, and not everything that can be counted counts”
– Albert Einstein
Measuring against a standard is almost as old as human history. With the advent of technology and exploding human needs businesses have multiple parameters to gauge. Market share, mind share, wallet share, revenue share are some of the examples we have for a typical product or service company through which they pit against each other. But the real question how much is all these relevant for the customer who is the sole reason for organizations to exist. Customers have choice to stay or move but the time to switch or abandon has reduced drastically because of delivery channel evolution. What works today may become Achilles heels in future. Therefore the right question might not be about rightness of a parameters but simply about relevancy of parameters and the time frame about the relevancy.
There was a notion for marketing budgets that it were not an expense but were investments. There is no proof to any of these claims simply because the customer traffic could not be attributed only to marketing or non-marketing programs. The marketing programs never offered any competitive advantage for a longer period of time. Word of mouth and social media democratised opinion building and companies have very little role in those.
Now what could end all these dark areas in marketing? Possibly we could rather get it from customers itself and simply outsmart the customers.
Products following customer opinions or products shape the opinions of customers is what the real question for organizations today. Analytics makes it all possible with sound business logic coupled with well laid mathematical modelling. Our customer micro segmentation technique helps you in accounting parameters which matter to business than a customer in itself. Businesses can increase sales and realize full potential of existing customers just by micro targeting and precise marketing.