What the Client Wanted
Devise a collaborative filtering process to identify relevant marketing strategies and product offers to new customers.
Identified the right campaign/channel for individual customer stage based on the association between marketing response and marketing efforts.
Summary of the Interactive Media Services Industry
The interactive media services industry has expanded rapidly, backed by the boom in internet usage, and is expected to grow fivefold in the coming years, driven mainly by e-commerce and infrastructure consisting of mobile phones, video games machines, broadband fixed-rate Internet services, and digital broadcast satellites. The interactive media services industry can be divided into eight different layers and is becoming increasingly integrated vertically. The most important among these are the roles of aggregators, portals, and back-office – all of which rely heavily on customer management. As a result, companies are hoping to become key players in the industry by developing strategies for each layer as a part of their overall management strategy.
- Diversification: Today, interactive media services providers are growing at a rapid pace and are expanding their reach to new markets. As a result, it becomes essential for companies to develop innovative service lines to optimize their ROI and increase profitability.
- Competition: To remain relevant in today’s competitive landscape, companies in the media and entertainment industry must look to increase their focus on moving to a more of an audience-based approach. Also, the capability to deliver superior communications and offers are expected to influence the relationship between consumers and marketers.
To know more about the benefits of customer analytics for media and entertainment industry, speak with our analytics experts.
About the Client
A global interactive media services provider.
With a goal to improve sales, the client – a leading interactive media services provider in the US – approached Quantzig to perform a customer analytics engagement. The primary scope of this engagement was to improve customer satisfaction, personalize the customer experience to expand their customer base, and meet the ever-changing demands of diverse customer segments. The client was facing significant issues due to inventory pileups and high customer churn. As a result, the client wanted to devise a collaborative filtering process to identify relevant marketing strategies and product offers for new customers.
With the help of Quantzig’s customer analytics solutions, the interactive media services provider gained an in-depth understanding of what products are most suitable for individual customers. The client also identified the right campaign/channel for individual customers based on the association between marketing response and marketing efforts. This helped the client increase their marketing response by 2x.
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Customer Analytics Solution Predictive Insights
Quantzig’s customer analytics solutions help companies in the media and entertainment industry space to gain comprehensive insights into customer demographics such as age segment, income group, marketing response index, and promotion usage percent. Firms can also analyze the purchase behavior at the segment and individual customer level to identify customer needs and interests appropriately.