actionable analytics
Understanding customer behavior is important to adjusting business strategies, increasing revenue and identifying new opportunities. The vital importance of such knowledge to these objectives isn't new; in fact it's always been a factor of business success. What is new, is that many organizations now have an impressive variety of data and information sources that promise to reveal far more about customer behavior than previously thought possible. At Customer Insight Group, we have considerable expertise in turning our client's data into actionable customer insight. Through strategic thinking and statistical analysis and design, our analytics team maximizes the return on your database investment by providing quantifiable insight aimed at meeting a multitude of your business objectives. These include:
- Generating in-depth insight into customer's behavior and profile
- Outlining strategic framework for planning communication, product development, merchandising, site location and pricing activity
- Developing tactical tools for identifying and quantifying cross-sell and up-sell opportunities in your customer base
- Planning integrated customer communication strategies and measuring return on customer investment
- Identifying the best targets for new customer acquisition
customer insight
campaign analysis: measures sales and response for each of the key elements in your marketing plan, helping you develop communication strategy and guiding future efforts by improving targeting methods, decreasing acquisition costs and increasing response rates.
online promotional analysis: measures and tracks sales not only by click-throughs, but more important, conversion rates, repeat purchase rates and cross-sell ratios to enable a true measure of ROI.
attrition analysis: segments customers based on buying trends, taking the temperature of the database by focusing on the number of customers being acquired and lost annually. Proactive trigger-based strategies or more comprehensive retention programs can be implemented based upon this analysis to reduce attrition rates.
customer value analysis: uncovers the ultimate worth of each customer, helping you determine the optimal level of investment needed to grow and retain the customer.
trade area definition: identifies the geographic distribution of customers patronizing a given store, accurately defining your trade area and increasing effectiveness of your business.
multi-buyer and win-back models: predict response, profitability, likelihood of re-activation, and one-to-two-time buyer conversion based upon individual purchase history spanning several lengths of time to identify patterns distinguishing the target group.
program evaluation: analyses show you not only "how you did" but also "how you can do better," with a detailed analysis that measures ROI, profiles responders compared to non-responders, and identifies the most profitable segments and channels to target in the future.
cross-sell and propensity to buy models: establishes buying relationships and helps you target customers for specific products by finding names most likely to purchase in a given area based upon prior categories shopped. Essentially, this model predicts not only someone's likelihood to respond but also to purchase, and what products they'll purchase next and how they will purchase.
new customer acquisition models: develops an algorithm using your customer data and past mailings to outside lists, which you can then use to target names from a compiled data source that most closely resembles your customer profile.
customer profiling: appends a variety of demographic, lifestyle and psychographic data to your customer or prospect files, enhancing list rental, site evaluation, advertising placement, and targeted promotions. Customer profiling helps you to understand who your customers are and — more important — the characteristics that distinguish your most profitable customers from others.
online customer profiling: uses both the data you've captured via online customer profiles and appends additional demographic, lifestyle and psychographic data to your files. This information helps you to understand who's coming to your website, what they "look like", what they buy and how they differ from each other and from your offline customers.
market research
Not only can Customer Insight Group help you to answer the questions of who, what, when, where and how, we can help you to answer the question of why. Understanding the attitudes and motivations that drive behavior is essential, and for this information Customer Insight Group goes directly to the source — your customer or prospect. Using primary research services we can help you to understand the customer's buying experience, expectations and how and why they make purchase decisions. Our offerings include:
surveys (online, mail and intercept): provide quantitative analysis that measures customer satisfaction, preferences of communication, frequency of communication, product demand or competitive value.
focus groups: provide qualitative studies uncovering attitudes and perceptions about brand image, product concepts, advertising creative, loyalty programs and other areas.
survey-based modeling: links survey data with customer transaction data, enabling marketers to infer attitudes and intent across an entire customer or prospect base while surveying only a sample.