Customer Analytics, Customer Data Analytics, Customer Behavior, Solutions Case study - Quantzig

Tag: Customer analytics

Customer Segmentation Analytics

Customer Segmentation Analytics for an Online Payment Services Provider

“Quantzig’s customer segmentation analytics solutions helped us build advanced models to identify customers with high churn risks and reach out to them as part of a focused retention program leading to churn reduction.”

CUSTOMER SEGMENTATION ANALYTICSAbout the Client

The client is a leading online payment services provider based out of North America with a large customer base. While the company had rapidly grown, based on an aggressive sales strategy, it had lost connection with its customers and was reeling with a high churn rate.

The Business Challenge

Identifying the right target customers is of utmost importance for companies in the financial services sector. But with dynamic customer preferences and the ever-growing competition, it is indeed quite challenging for companies to identify and target potential customers. In such a scenario, customer segmentation analytics solutions can help organizations to target the right customers and drive greater profits by segmenting the customers into homogenous groups with similar characteristics.

Request a free brochure of our customer segmentation analytics solutions to gain comprehensive insights into the role of data mining and cognitive technologies in analyzing customer preferences.

Our client had a rapidly growing customer base and the volume of transaction data entering the system precluded any analysis using manual spreadsheets. When they realized that they did not have the tools to scrutinize data, they invested in proprietary analysis software to alleviate the problem. However, despite the investment, they were unable to derive the insights that were essential for monitoring and decision making. Subsequently, the client approached us with specific issues related to their customers, which was to be unraveled based on their transaction data.

By leveraging Quantzig’s customer segmentation analytic solutions the client was looking to answer the following questions: 

  • What metrics need to be monitored to gauge customer engagement
  • Which of my customers are likely to churn and what are the specific indicators for churn? 
  • Which customer segment should my sales team target to build a healthy customer base? 
  • How should I monetize my customer base to increase revenue? 
  • How to provide better value to my customers that will increase customer engagement? 

 

Harness the power of customer segmentation analytics to turn data into insights. Contact our analytics experts to learn how we can help you.

Solutions Offered and Value Delivered

Quantzig’s dedicated ‘Customer Analytics Centre of Excellence’ with a team of 20+ data scientists, domain experts, and analysts designed an innovative three-pronged approach that leveraged various customer segmentation analytics techniques to tackle the challenges faced by the client. The crux of this engagement revolved around the use of advanced customer segmentation analytics techniques such as- clustering algorithms and time-series analysis.

The use of clustering algorithms and time series analysis helped the client to segment their customers into smaller segments and model the behavior of churned customers across different cohorts while offering a better understanding of the segment-wise behavior. The feature set built for this purpose included demographic information collected at the time of registration as well as engagement information derived from transaction data sets.

Identifying these segments provided a clear picture of the entire customer base and the variation in behavior of each segment. This helped our client to build the strategy for better customer engagement in terms of offers, customer reach out programs and so on.

Gain limited time complimentary access to our analytics platform and analyze the true potential of customer segmentation analytics in enterprise decision making.

Quantzig’s customer segmentation analytics experts built a customized solution to meet the client’s requirements which included the following three-phases:

 

Phase 1

The first phase of this customer segmentation analytics engagement focused on developing a data pipeline to access and process the raw data in a secure manner. The pipeline required that the raw data undergo a cleansing and quality check process before any further action. 

Phase 2

In the second phase, the raw data was processed to create multiple new features that were specifically engineered for customer analysis. The new features provided a holistic view of the customer journey throughout the lifecycle of engagement and enabled further analysis. 

Phase 3

In the third phase of this customer segmentation analytics engagement our experts devised customized dashboards to help the client flexibly analyze data. The processed data was used to build a separate machine learning pipeline for carrying out customer segmentation and churn prediction. 

 

Get in touch to learn more about our customer segmentation analytics solutions

Business Outcome

Based on the insights provided, the client was able to monetize customer data by designing services based on customer needs and preferences. The deployment of advanced analytics dashboards also benefitted the client tremendously by offering a real time view of the global customer base.

The customized analytics solution was deployed in a production environment for the client and has had the following impact:

  • The customer churn reduced by over 9% post engagement
  • Revised offers being provided the client was able to increase customer engagement by 10%
customer lifetime value

3 Interesting Tips to Increase Your Customer Lifetime Value

Companies across industries invest a lot of time and resources in tracking the journey of their customer, improving customer service, and providing the best customer experience. However, most companies tend to struggle when it comes to customer journey tracking and measuring business performance in real-time. This is where the focus must be shifted to gauging customer lifetime value as this can help organizations to evaluate the future value, they can generate from their marketing initiatives. Also, it can help in designing an efficient marketing strategy with more concise budget planning. Measuring customer lifetime value is important for businesses to retain customers and gain long-term profits. In this article, we have listed a few important tips that can help companies to increase their customer lifetime value and understand how well are they resonating with their audience. Additionally, these tips can aid companies to reverse-engineer the experience of existing customers and reduce customer churn.

Request a free brochure of our analytics solutions to learn how we can help you devise cost-efficient strategies aimed at improving the share of wallet and customer lifetime value.

CUSTOMER LIFETIME VALUE BLOG

Tips to Increase Customer Lifetime Value

Improve the onboarding process

To ensure sustainable business growth and increase customer lifetime value, companies should focus more on the onboarding processes as poor onboarding can be one of the major causes of churn. Onboarding is the point where any customer engages with a brand and where a brand can make the greatest positive impact. The process of onboarding can vary from industry to industry. However, there are a few interesting tips that can help businesses to engage their audience better. Businesses must make onboarding, an easy and fast process which can be done by simplifying the process with walkthrough guides, interactive how-to videos, wrapped tutorials and other content that might help customers in fulfilling their goals. Also, organizations should focus on communicating the value of their offering right from the start ensuring that communication is straightforward and is contributing to increase in customer lifetime value.

Wonder how to increase customer lifetime value, proactively boost engagement, increase acquisition rates, improve conversion and raise average order value? Talk to our analytics experts now!

Offer top notch customer service

Today customers are digitally empowered, and they expect better customer service at each of the touchpoints. Quality customer service is the key for businesses to grow and increase customer retention. Research reveals that customers are likely to switch brands after a single instance of poor customer service. Therefore, getting your customer service right should be your top priority in order to stay ahead of the curve and drivr profitable growth in the long run. Better customer service results in customer experience and this, in turn, can turn them into loyal clients.

Our customized analytics dashboards help businesses to map the customer journey across all customer touchpoints and gain a 360-degree view of each customer interaction with the business. Gain limited-time complimentary access to our analytics platform right away.

Foster better customer relationships

In the competitive business landscape, companies should focus on fostering good customer relationships in order to increase customer lifetime value. The key to nurturing good relationships with customers is to make them feel heard,  cared, and appreciated. Also, to improve relationships with customers, companies need to tap into their expectations and interests. This is where customer survey can help. Surveying customers can offer valuable insights into their likes and dislikes and can help in increasing customer lifetime value. This can further help in offering personalized services for better customer experience and satisfaction. Keeping a pulse on you’re your customers want  can also help in taking immediate action to improve customer satisfaction in case of a sudden dip in the sales and can boost customer lifetime value.

Want more tips on how analytics can help you  increase your customer lifetime value  and generate more revenue from your existing customers? Get in us with our experts to learn more.

customer analytics in retail

Customer Analytics in Retail Helped a Consumer Electronics Retailer to Witness a 2x Reduction in Customer Churn Rate – A Quantzig’s Success Story

The client is a leading consumer electronics retailer based out of Germany who is known for photographic and audio equipment. The company’s annual turnover is more than $ 23 million and business is spread across 17 different countries in Eastern and Western Europe.

For companies in the retail industry to succeed in the long run, it is important to have an in-depth understanding of the customer base. Customer analytics in retail can offer a 360-degree view of the global customer base and provide valuable insights into churn prediction, potential customer segments, geospatial analysis. Also, it can help to gauge customer engagement with the business in real-time. Furthermore, by leveraging customer analytics in the retail business, companies can identify the factors affecting the bottom line and are responsible for churn majorly.

Talk to our customer analytics experts to know how they can help you analyze buying preferences and future behaviors while taking into account their historical data.

Business Challenge

The client, a renown electronics retailer, was unable to identify higher-value customers due to which they had to spend more time and resources in building loyalty programs to drive bottom-line results. Also, the electronics retailer wanted to improve its approach to customer churn analysis to reap maximum benefits from a well-segmented and thoroughly analyzed customer database. Also, the client was facing difficulties in approaching customers with tailored incentives or other contextual retention offers. This is when they approached Quantzig to leverage its expertise in offering customer analytics in the retail sector that would help them identify flight risk customers and factors driving their buying decisions.

Request a FREE Brochure of our analytics solutions to gain in-depth insights into our portfolio of customer analytics services that can help you enhance customer retention and maximize profitability.

Solution Offered and Value Delivered

To help the consumer electronics retailer analyze and tackle their core business challenges, Quantzig’s team of customer analytics experts adopted a comprehensive three-step approach. In the first phase of the engagement, they focused on analyzing the customer journey by applying techniques of customer analytics in the retail segment. This method of analysis involved the application of both hierarchical as well as non-hierarchical data clustering techniques that further helped them to identify potential customer segments. The second phase of this engagement revolved around developing a robust customer lifetime value model to analyze customers’ behavioral traits and their transactional histories. The third and final phase of the engagement focused on the creation of a customized customer analytics dashboard to analyze factors for churn in real-time and suggest measures to help the client retain customers and improve loyalty.

Gain limited time complimentary access to our analytics platform that can help you transform your retail business into analytics-driven enterprise by offering a 360-degree view of your customers.

Customer analytics in retail empowered the client to analyze clickstream data obtained from disparate sources. A comprehensive framework of customer analytics in retail also helped the client to examine customer journey from three viewpoints- customer churn, loyalty and customer retention. The solution offered by Quantzig helped the consumer electronics retailer to identify efficiencies in business operations and boost customer satisfaction. Furthermore, the client was successfully able to distinct characteristics of the different customer segment and create a robust go-to-market strategy.

By applying customer analytics in retail, the client was also able to:

  • Reduce customer churn rate by 2X
  • Witness an increment of about $12M in annual income
  • Identify gaps in customer data analysis and improvement opportunities
  • Measure KPIs to drive business growth

Benefits of Customer Analytics in Retail Sector

CUSTOMER ANALYTICS IN RETAILHow Quantzig’s Customer Analytics Solutions in Retail Can Help?

By leveraging Quantzig’s customer analytics in retail, companies can harness the ever-expanding customer data generated from POS terminals, mobile transactions, social media, and various other cloud-based platforms. This can help them to gain insights more quickly and eventually improve business decisions. With the help of our customer analytics solutions, retail companies can increase the relevance of offers and interactions and improve customer retention. Furthermore, Quantzig’s advanced customer analytics solutions offer valuable insights into customer behavior, attitudes, and sentiments that can be leveraged to improve customer relationships and drive loyalty.

Learn More about how customer analytics in retail can help analyze customer life cycles in order to improve budgeting, customer segmentation, and prioritization.

MARKET BASKET ANALYSIS

Market Basket Analysis Helped A Food and Beverage Manufacturer to Optimize Product Placement and Increase Sales By 54%

The client is a well-known food and beverage manufacturer based out of Austria with its operation spread across Europe. They were finding it difficult to understand the purchasing behavior of their consumer and identify potential customer segments to drive sales. They wanted to leverage the market basket analysis solution to increase the effectiveness of their marketing campaigns and improve sales.

In a highly fragmented and complex business landscape, manufacturers are looking at leveraging  smart analytics tools to address the rapid shifts in customer demands and preferences. This is where market basket analysis can help manufacturers to understand the purchasing behaviors of consumers. Market basket analysis can aid companies to develop precise marketing strategies and meet business goals. Also, market basket analysis can help in increasing the efficiency of marketing messages resulting in improved customer experience and customer loyalty.

Our market basket analysis experts can help you improve the effectiveness of your marketing campaigns significantly. Want to know how? Get in touch right away!

Business Challenge

The client, a well-known food and beverage manufacturer, lacked a robust cross-selling strategy for their products. As a result, the food and beverage manufacturer was facing a continuous reduction in the profit margins for two consecutive years. Also, the client was struggling when it came to inventory management due to which they were not able to fulfill customer demands on time. Furthermore, their inability to analyze historical data properly prevented them from creating effective pricing models. Therefore, the company was looking for market basket analysis solution to utilize the historical data to identify relationships products and customers and generate new revenue.

Quantzig’s market basket analysis solutions help companies to develop customer centric marketing strategies  by identifying factors that drive consumer buying preferences and behaviors. Request a FREE proposal to gain in-depth insights into our portfolio of analytics solutions.

MBASolution Offered and Value Delivered

To help the client tackle their core business challenges, the market basket analysis experts adopted a comprehensive three-step  approach. The first phase of the market basket analysis engagement focused on analyzing available customer data to help the client devise robust cross-selling strategies. In the second phase of the market basket analysis, the analytics experts focused on the creation of extract, transform and load (ETL) processes for the initial data load to support methodologies of market basket analysis. The third and final phase revolved around the creation of customized analytics dashboards to support market basket analysis at the store and product category level.

The solution offered by Quantzig’s experts helped the client to keep a track of key metrics such as average spend and profit per basket. This, in turn, helped the client to track the performance of their top-selling product categories. Additionally, Quantzig’s market basket analysis solution helped the client to optimize their product placement. Furthermore, the client was able to improve the effectiveness of their marketing campaigns by 2X, enhance customer satisfaction and reduce churn rate.

Request a FREE demo below to know how our market basket analysis can help you improve customer loyalty and MROI.

Quantzig’s market basket analysis solution also helped the client to:

  • Increase quarterly sales by 54%
  • Decrease overall marketing budget by 18%
  • Develop a flexible and reliable business model

To learn more about how our analytics solution can help you gain actionable insights and make smarter decisions to  future-proof your business, request for more information now!

Customer segmentation analytics

Customer Segmentation Analytics Opened up New Growth Avenues for a Banking and Insurance Company to Improve Customer Acquisition by 2X – Quantzig’s Latest Success Story

The client is a multinational banking and insurance services provider headquartered in Wexford, Ireland. The client is well-known for offering a wide range of services that include deposits, loans, financial planning services, investments, pension cash management, online banking, foreign exchange, interest rate risk management, and mobile and tablet banking services. The banking and insurance company was looking for customer segmentation analytics solutions to connect with multi-channel customer segments and more precisely identify potential customer segments. Hence, they approached Quantzig to leverage its expertise in offering customer segmentation analytics solutions to drive revenue generation by growing their wallet share from existing as well as new customer groups.

Companies in the banking and insurance sector face several predicaments in developing a customer segmentation strategy to target the most profitable customer segments. The challenges these companies face can be attributed to several factors such as the growing need to develop customized marketing programs, design products and services to effectively address customer needs, and reduce customer churn rates. Today customers are digitally empowered, and therefore, traditional customer segmentation strategies used by banking and insurance players will no longer help. To gain strategic advantage, banking and insurance companies need to enhance their organizational capabilities and customer acquisition strategies.

Customer segmentation in banking can help you gain a 360-degree view of customer behaviors and devise suitable strategies to categorize them into homogenous segments. Request a FREE proposal to gain in-depth insights into our customer segmentation analytics solutions.

Business Challenge

As one of the leading banking and insurance companies in Ireland, the client was successfully able to incorporate actionable insights from their customer behavioral patterns into their upstream and downstream business operations. However, with the increasing developments in the field of e-banking services, the banking and insurance company was not able to bring about improvements in their customer satisfaction and service levels. Also, owing to their huge customer base across Europe, they were facing challenges in identifying opportunities for revenue growth.

Additionally, the client found it challenging to differentiate the customer servicing experience and design product bundles to more effectively address customer preferences. The banking and insurance company was looking for customer analytics solutions to connect with multi-channel customer segments and more precisely identify potential customer segments along with ways to market and serve them. Hence, they approached Quantzig to leverage its expertise in offering customer segmentation analytics solutions to drive revenue generation by growing their wallet share from existing as well as new customer groups.

Get in touch with our experts to learn how you can allocate resources and extract maximum value from various customer segments with the help of customer segmentation analytics.

Solutions Offered and Value Delivered

To help the banking and insurance company tackle the above-mentioned challenges, our customer segmentation analytics experts adopted a comprehensive approach that comprised three phases. The first phase focused on a detailed analysis of the competitive forces and different customer groups across Europe. In the second phase, Quantzig’s experts focused on establishing meaningful customer segments by assessing demographic datasets available with the client. The third and the final phase revolved around developing a unique customer segmentation strategy that helped the client to create effective marketing strategies and unique communication strategy for each target audience.

Quantzig’s advanced customer segmentation analytics solutions can help you unveil meaningful and measurable segments based on customer needs and interests. Request a FREE demo below.

The solution offered helped the client to gain several benefits by establishing customer analytics as a true business discipline. Also, by leveraging Quantzig’s customer segmentation analytics solutions, the client was able to capture the full potential of their customer base by catering to their customers’ needs in a consistent, professional manner at every touchpoint. Additionally, they were able to gauge the profitability based on parameters such as customer lifetime value, customer churn rate, and customer loyalty.

The streamlined approach to customer segmentation analytics also helped the client to witness:

  • 2X improvement in customer acquisition rates
  • Significant decrease in customer churn rates
  • 42% increase in customer satisfaction levels

Benefits of Customer Segmentation Analytics

CUSTOMER SEGMENTATION ANALYTICS CS INFOGRAPHIC

To learn more about benefits of customer segmentation analytics, request more information right away.

Customer data management

3 Effective Tips to Improve Customer Data Management for Millennial B2B marketers

Today customer data is considered to be the most valuable resource for businesses across industries. By gaining insights from customer data, businesses can easily predict future customer behavior patterns, devise sales strategies, and estimate the success of their marketing campaigns. Therefore, customer data management can cement the success of any business that decides to dig deeper into customer behavior insights. Customer data management can further help businesses to analyze customer buying behaviors and any additional information that customers might have shared with any business across various touchpoints. With a better understanding of customers’ personalities and pain points, companies can cater to their needs on a far more personal level which is very essential in today’s highly competitive business landscape.

Wonder how to keep track of multiple facets of a single customer data? Customer data management solutions can help. Request a FREE proposal now to gain detailed insights.

Tips to Manage Customer Data Effectively

Tip #1: Monitor integrity and relevance of customer data

Data cleansing is one of the most important aspects of customer data management. For effective customer data management, it is important to keep up-to-date information about customers as customer behavior is dynamic, and the customer data reflects the movement of their actions. Cleansing processes can help to weed out contacts that aren’t engaging, or whose information is no longer correct. Also, monitoring the integrity and relevance of customer data can help you to devise more effective  marketing campaigns and customer segmentation strategies. A flow of incorrect data can lead to bad customer experience that can negatively impact the reputation of your brand.

Quantzig’s analytics experts help companies to deal with customer data privacy concerns. Get in touch with them now!

Tip #2: Gather all available customer data into a unified profile

Using multiple tools to collect data can result in the collection of disconnected data leading to fragmented customer experience. Also, creating a unified customer profile is difficult by using multiple channel-specific tools for data collection. For effective customer data management, businesses need to have a unified customer view that comprises all of the customer interactions with the business including email clicks, website browsing history, mobile interactions and so on. A 360-degree view of the customer is critical to offer seamless omnichannel and connected customer experience.

Our customer analytics dashboards can help you monitor  customer journeys and analyze the data at every touchpoint in real-time. Request a FREE demo below to know more.

Tip #3: Keep customer data secure

Data security is a crucial component of any customer data management system. So, businesses need to have data backed protocols in place to encrypt and protect their most valuable business asset- “customer data”. Therefore, businesses need to be very careful when it comes to safeguarding the confidential and private information such as credit card information, social security numbers and other financial information.

To gain  more tips for effective customer data management, request for more information below.

customer segmentation analytics

Boosting Sales and Profitability for a German Pharmaceutical Company with the help of Customer Segmentation Analytics – A Quantzig Success Story

The client is a German pharmaceutical company that majorly focuses its efforts on oncology, metabolism, immunology, respiratory disease and central nervous system diseases. The company has a strong market presence in 12 countries across the globe.

With the pharmaceutical environment becoming extremely competitive and dynamic, companies in the pharmaceutical industry have also shifted their approach towards consumerism. To stay ahead of the curve in today’s business landscape, pharma companies need to effectively target promotional activities toward consumers who are most likely to respond to their marketing efforts. Pharma companies need to get away with traditional marketing approaches to reach consumers in a rapidly changing healthcare environment.

Quantzig’s customer segmentation models employ sophisticated data clustering techniques to classify customers into diverse groups. Request a FREE proposal now to gain in-depth insights into our portfolio of customer analytics solutions.

Business Challenge

The client was facing serious challenges while expanding their business overseas.  This was mainly due to their inability to classify customers in the new market based on their needs and specific behavioral and demographic patterns. The pharma company was not able to achieve the desired results through their existing promotional campaigns. So, they approached Quantzig to leverage its expertise in offering customer segmentation analytics to better understand and segment their customers based on their value. Also, by leveraging customer segmentation analytics, the client wanted to tap hidden business opportunities within untapped customer segments in the new market.

Our customer segmentation analytics experts help companies achieve far more accurate insights regarding customer preferences and help develop forward-looking perspectives. Get in touch with them right away.

Solution Offered and Value Delivered

To help the client tackle their challenges Quantzig developed a holistic customer segmentation analytics framework to improve their customer segmentation strategies and target new consumers through personalized marketing campaigns. The analytics experts at Quantzig also leveraged robust statistical tools and response modeling techniques to glean actionable insights into various customer segments. Consequently, the client witnessed a significant improvement in the response for their personalized campaigns and achieved an increase of 23% in sales and profitability.

By using Quantzig’s multi-dimensional approach to customer segmentation analytics you can better target your customers by understanding their behaviors, needs, and value. Request a FREE demo to know more.

Quantzig’s customer segmentation analytics solutions also helped the client to:

  • Identify high-performing, profitable product categories, and understand the degree of alignment between the needs of the customers and their offerings
  • Better target their customers by understanding their behavior, needs, and value
  • Achieve an unparalleled degree of customer-centricity and unique value propositions

To learn how our customer analytics solutions can help you get end to end visibility into your customer’s journey, request for more information below.

Global Pharmaceutical Industry Challenges

PHARMACEUTICAL INDUSTRY

customer analytics in retail

Customer Analytics Engagement: How a leading banking and insurance company witnessed a 2x increase in customer loyalty

The client is a leading banking and insurance company based out of Denmark with a strong presence in more than 15 countries. With the rise in its global customer base, the company was looking at deploying an innovative approach to analyze attributes, journeys and behavior of its customers. Their existing approach failed to successfully engage customers in ways that would help them boost customer loyalty. Therefore, they approached Quantzig to leverage its customer analytics solutions to gain in-depth insights into end-user behaviors.

By leveraging Quantzig’s customer analytics solutions, companies can effectively track and monitor customer journeys and reduce churn. Request a FREE proposal to gain in-depth insights into our advanced analytics solutions.

Business Challenge

A host of different factors such as speed, agility, and access to reliable information are intersecting to subtly change the way the banking and insurance sector will operate in the years to come. Companies in the banking and insurance sector have traditional business models that aim at implementing secure systems. These models are unable to track and analyze customer journeys. This is where customer analytics solutions can help.

Our analytics experts help companies in the banking and insurance sector to reap maximum benefits from a well-segmented and thoroughly analyzed customer database. Get in touch with them right away!

The client, a leading company in the banking and insurance sector in Denmark, found it challenging to identify profitable customer segments, improve customer relationships and win back former customers. The declining customer trust and increasing risks prompted the client to take proper measures to deal with these challenges by leveraging advanced customer analytics solutions and approached Quantzig to help them effectively improve customer loyalty by reducing churn.

Solution Offered and Value Delivered

To help the client tackle their core business challenges, customer analytics experts at Quantzig adopted a comprehensive approach that aimed at gaining a 360-degree view of their customers in the first step. By leveraging Quantzig’s advanced customer analytics solutions, the client was able to identify higher-value customers which, in turn, helped them spend more time building customer loyalty programs to drive bottom-line results. Also, the banking and insurance company was able to identify flight risk customers and factors affecting their decisions.

Quantzig’s customer analytics solutions use powerful predictive models to determine which actions typically precede a lost customer or sale and allow businesses to leverage data discovery to identify factors that affect churn. Request a FREE demo to know more.

Customer analytics solutions also helped the client to:

  • Increase customer loyalty by 2X
  • Identify potential customer segment
  • Better understand customer behaviors

Why choose Quantzig as your next analytics partner?

Quantzig is a leading analytics solutions provider that is well-known for assisting clients across the globe with its advanced analytics solutions. We help organizations across industries to gain data-driven insights and transform themselves into an analytics-driven organization. Our highly skilled team of data scientists, consultants, and analysts can help you analyze datasets in real-time so that you can take appropriate actions and solve critical business issues before it becomes a major crisis. Also, we work in collaboration with our clients to help them identify new opportunities, define robust solutions, and develop cutting-edge visual dashboards.

Customer lifetime value

Customer Lifetime Value Analysis Helps Improve Retention Rate by 13% for a Telecom Company – A Quantzig Case Study

customer lifetime value

A world leader in the IT and telecom sector based out of Denmark was facing several predicaments due to their inability to identify new international business opportunities, improve retention rates, and ensure the right amount of investments towards profitable customer segments. To tackle such challenges, they approached Quantzig to leverage its customer lifetime value analytics solutions to profile the potential customers and develop a marketing strategy that can help them maximize retention, net profit and minimize re-marketing costs.

Quantzig adopts a holistic approach to help organizations develop unique methods for evaluating the customer lifetime value for each client across different industries. Request a FREE proposal now to gain in-depth insights into our customer analytics solutions.

Telecom Service

Business Challenge

The global telecom industry consists of several big players that make communication possible on a global scale, either through  phone or the Internet. The telecom industry is primarily driven by technological innovations and developments, which help to offer a wide range of communication services at low-cost margins.

The client, a leading telecom player with business operations spread across the globe, wanted to determine the net value of their customers by source, campaign, and channel. This would help them identify potential customers and ascertain their average revenue per user. The client, with the help of customer lifetime value analytics solutions, wanted to spend their resources smartly to acquire new customers and retain the most profitable ones with customer lifetime value analytics engagement. Also, with the help of customer lifetime value analytics solutions, they wanted to seek ways to improve business decisions about product development, sales, marketing, and offer reliable customer service and experience to the customers; thus, helping them to maintain a long-term relationship with customers.

Major challenges faced by the client:

  • To ascertain the net value of their customers
  • To seek ways to improve decision-making capabilities
  • To reduce customer churn rates and retain the most profitable customers

Our customer analytics experts help can help you build a customer lifetime value model to map the customer journey across all customer touchpoints. Get in touch with them right away!

Solution Offered and Value Delivered

By leveraging Quantzig’s customer lifetime value study, the client identified the necessary marketing efforts to reduce churn rates and ensured the right amount of marketing investments toward profitable customers.

Adopting a combined approach of Quantzig’s dynamic micro-segmentation and predictive modeling techniques, the client was able to accurately forecast the lifetime value of a customer based on their purchase history, demographics and other behavioral traits. Also, the telecom company was able to accurately predict the revenue generated by each customer which, in turn, helped them devise cost-efficient strategies aimed at improving the share of wallet from that customer. The solutions offered also helped them improve retention rate by 13% and build long-term relationships with the customers.

Our advanced customer lifetime value modeling solutions can help you identify profitable customer groups and optimize your marketing spend. Request a FREE demo to know more.

Outcome

Customer lifetime value analysis solutions helped the client to optimize interactions and conversations to drive repeat purchases, customer referrals, and minimize support costs. Furthermore, this engagement offered real-time and actionable insights into their customers’ journey which helped the client efficiently distinguish customers in terms of profitability.

Our customer lifetime value analysis also empowered the client to:

  • To improve retention rate by 13%
  • Accurately predict the revenue each customer generates
  • Devise data-driven marketing strategies to improve profitability
  • Reduce customer churn rates significantly

Request for more information below to know how our customer analytics solutions can help you proactively boost engagement and improve customer service.

telecom industry
Customer Experience Analytics

A Leading European Air Transport Services Provider Leverages Customer Experience Analytics to Improve Customer Experience by 2X | Customer Success Story

The client is a leading European airline company that provides air transportation services for both passengers and freight.

The Business Challenge

We live in a fast-changing world where the evolution of industries continues to accelerate owing to innumerable factors, the airline industry is no exception. With growing competitive pressures, airline industry players have now started facing the brunt in the form of declining profits and shrinking customer base. Though businesses in this sector have adopted several new strategies to bolster their bottom line, we believe its high-time they adopt a data-driven, strategic approach.

Focusing on improving customer experience through customer experience analytics can not only help airline companies build customer loyalty but will eventually witness a direct impact on profit margins. Also, with advanced technologies paving their way into the business world, businesses must consider leveraging advanced customer experience analytics to deliver personalized services and experiences to their customers.

Our client, an airline service provider faced similar challenges that curtailed their efforts to drive customer experiences and boost profitability. Though the client had deployed an in-house customer data warehouse which served as the foundation of their CRM program, they lacked the required analytics capabilities to sift through the datasets to extract meaningful insights. This is when they turned to Quantzig to leverage its customer experience analytics expertise to power their digital transformation efforts.

Customer experience analytics is crucial for businesses to succeed in today’s competitive business scenario.

Request a FREE proposal to learn how analytics is shaping customer experiences across industries. 

To tackle their challenges the client needed to-

  • Identify siloed customer data sets
  • Conduct a deep customer analytics maturity assessment
  • Formulate an analytics-powered strategy to improve customer experience & loyalty
  • Deploy and scale new customer analytics capabilities

Solution Offered and Value Delivered

Quantzig’s customer experience analytics experts adopted a comprehensive approach to helping the client resolve challenges surrounding customer experience management. The three-pronged approach revolved around conducting a process maturity assessment, building a new analytics platform, and scaling up delivery of new analytics capabilities across the CRM system. By helping them connect the customer data warehouse to personalized solutions, we also helped them interact with their customers at every digital touchpoint. Also, turning data to insights helped them optimize customer data and take customer support to the next level with advanced customer experience analytics.

Our portfolio of customer analytics solutions can help you tackle challenges surrounding customer experience management. Get in touch with our customer experience analytics experts today!

Quantzig’s customer experience analytics solutions helped the client to:

  • Develop a blueprint for deploying a customer experience analytics platform
  • Offer better customer experiences and improve operational efficiency
  • Improve customer experience by 2X

What is Customer Experience Analytics?

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