Monday, July 9, 2007
Tuesday, July 3, 2007
Customer and Market Analysis
Profile Customer
Purpose: Develop a precise understanding of customer characteristics and behaviour through database analysis.
Methodology
Conduct exploratory analysis of the customer base.
Identify profiling dimensions (e.g.: purchase patterns, product affinities, customer lifecycle, etc).
Create analytical database to support querying, reporting and analysis.
Develop and publish profile reports.
Valuate Customers
Purpose: Develop an algorithm to score and rank the customer database by various performance measures.
Methodology
Determine the performance criteria and develop a calculation formula for valuation.
Create an analytical file by assembling the revenue and cost elements.
Run valuation reports showing the distribution of customers.
Append the valuation score to each customer record.
Determine Market PotentialPurpose: Determine the growth potential within specific customer segments or markets.
Methodology
Assemble the required data based on the objective of the analysis (e.g.: geographic, cartographic, attribute).
Develop a formula for estimating category spending of customers and their potential to switch.
Map the data geographically and produce thematic maps.
Segment Customers
Purpose: Develop a partitioning method to group the customer base into meaningful segments which merit differential treatment.
Methodology
Stratify the customer base by the key performance criterion (e.g.: revenue).
Compare the profile characteristics of each value tier.
Identify key sub-groups based on a set of distinguishing characteristics.
Develop a set of rules for classifying customers into key segments.
Identify Loyalty Drivers
Purpose: Identify the determinants of customer satisfaction and loyalty.
Methodology
Conduct focus group research and one-to-one interviews in order to identify range of qualifying factors.
Organize the candidate factors into benefit categories.
Conduct quantitative research to determine level of satisfaction and performance with loyalty drivers.
Identify priorities for product and service improvement.
Develop Optimization ModelsPurpose: Develop predictive models to estimate the likelihood of customers to respond, buy and defect.
Methodology
Assemble the required data sets to model the behaviour of the customer.
Create new and derived variables.
Run a correlation analysis to identify the candidate variables for analysis.
Choose the appropriate modeling technique and validate the equation using a hold-out sample.
Identify Causes of Attrition
Purpose: Determine the major causal factors of customer attrition.
Methodology
Define the parameters of customer attrition (based on elapsed time since last purchase).
Profile the database characteristics of inactive customers.
Calculate the cost of attrition in terms of lifetime value.
Conduct root cause analysis amongst a sample population of inactive customers to determine their reasons for defection.
Identify Moments of Truth
Purpose: Map the customer experience and identify those points in the lifecycle that are critical “moments of truth”.
Methodology
Conduct customer interviews and focus groups to understand barriers between one lifecycle stage and another.
Analyze the customer database to determine the progression of customers of one lifecycle stage to another, and to profile customers by the frequency, volume and type of interactions across channels.
Identify the opportunities to improve the customer experience at specific moments in the lifecycle.
Know this - knowledge source for marketing
http://www.knowthis.com/tutorials/marketing/marketingplan1/16.htm
Great marketing plan outline and guide
Great marketing plan outline and guide
Sunday, July 1, 2007
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