Use data analytics to increase customer loyalty and repeat purchases
Customer Lifetime Value is built on customer loyalty and retention. Data analytics can show you precisely what drives customers to return to your brand, and shows you the path to increased retention and loyalty.
Using analysis and predictive models based on your first party data, we help you understand which customer segments repeat and why.
Our approach link customer, transactional, CRM and analytics data to measure and build a rich actionable picture of customer repeat purchases and retention. Machine learning retention models reveal precisely what levers you can use to increase loyalty and CLV on a customer by customer basis.
Key benefits –
Predict which customers will make repeat purchases
Predicting which customers will make repeat purchases will enable you to target them and understand your retention drivers for increased sales growth.
Understand which customers segments repeat and why
Profiling your repeat custom is the first step we help with, and then we can evaluate which customer characteristics are the most important. Maybe your repeat customers are mainly retired couples…but is it their age that keeps them coming back, or their relative prosperity?
Link transactional, CRM, analytics and customer data
We will take care of linking your first party data sources together in a robust cloud data warehouse that you can access and use – this data will then form the basis of our Retention and CLV modelling.
In depth analysis of what drives retention
We build a complete analysis of all your retention drivers – from customer features, product features, marketing and even website and call centre interactions. Then we model what predicts retention to help show what are strongest overall drivers.
Collaborate with world class data scientists
All our solutions are custom builds designed to address the specific challenges of each of our clients. We will collaborate with your to make sure the analysis is accessible and useful by all your analyst and commercial stakeholders, to ensure actionable insights and drive real impact.
Find the ‘next best action’ for increasing repeat customers
A predictive model of retention can be used to find which actions work best and offer the highest ROI, each specific customer – such as as well timed email offer, or search remarketing action. This is your most efficient route to growing repeat customers.
Customer Lifetime Value included
The retention rate is the most important assumption within CLV, and so will work with you to create a complete analysis that is linked backed to a Retention model so you can understand which customers and which drivers are most strongly influencing Customer Lifetime Value.