The client: Media and entertainment provider
Area of engagement: Customer analytics
Over the past few years, the media and entertainment industry has undergone a major digital revolution. Mergers and acquisitions have been the key factors for the growth of the media and entertainment industry, and the amalgamation of companies in this industry has led to the globalization of media conglomerates. The media and entertainment industry typically consist of radio, film, television, and print. These segments also include radio shows, TV shows, movies, news, newspapers, books, magazines, and music. Companies in the media and entertainment industry space have started increasing their focus on improving their process efficiency owing to the ever-increasing and relentless customer expectations and pricing pressures.
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However, a few factors are expected to hamper the growth of the media and entertainment industry. These factors include:
- Staying relevant in this digital landscape: To remain relevant in today’s competitive landscape, companies within the media and entertainment industry are increasing their focus on moving to a more of an audience-based approach. Additionally, the ability to deliver superior communications and offers are expected to influence the relationship between marketers and consumers in this space.
- Diversification: Today, media and entertainment industry players are growing at a rapid pace and are expanding their reach to new markets. As a result, it becomes essential for companies to develop new service lines to optimize their ROI and increase profitability.
These factors are compelling media and entertainment industry players to leverage the use of customer analytics solutions. Customer analytics helps companies identify the most profitable customer segments and tailor their marketing campaigns accordingly to meet consumer demands.
The Business Challenge
The client, a leading media and entertainment industry player, wanted to understand the customers’ buying frequencies and preferences and gain accurate predictions of their future buying behaviors. They also wanted to analyze the preference for specific offerings. With the help of a robust customer analytics engagement, the client also wanted to target customers with relevant offers and improve their brand affinity.
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Solution Benefits and Business Impact
Strategies we recommended based on our analysis to improve loyalty and anticipate customer demands.
With the help of Quantzig’s customer analytics engagement, the media and entertainment firm increased their focus on finding the target prospects with similar attributes, so that they could tailor their marketing campaigns accordingly and enhance business performance. The customer analytics engagement also helped the client identify high-risk customers to minimize customer attrition. Furthermore, the media and entertainment client was also offered actionable insights into ways to build stronger customer relationships.
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Customer Analytics Solution Predictive Insights
The customer analytics solution offered by Quantzig helped the media and entertainment firm increase customer lifetime value by delivering a positive customer experience. These solutions also help companies efficiently map their customer journey and enhance loyalty.