Marketing Analytics Services for Consumer Electronics Retailers
LONDON: Quantzig, a leading pricing analytics services provider, has announced the release of their new storyboard on analytics in marketing and how it can help companies optimize marketing campaigns and make better business decisions that improve ROI. In today’s competitive market landscape, companies are facing a plethora of challenges such as increasing sales, retaining customers, and maximizing profitability. Without improving marketing outcomes, it has become very difficult for companies to sustain profitability. Therefore, companies need to integrate data across all marketing channels and consolidate it into a common marketing view that provides invaluable guidance in driving marketing efforts forward. This is where making use of analytics in marketing can help.
Marketing without analytics is like driving with your eyes closed.
By employing analytics in marketing, companies can measure the effectiveness of various marketing channels and understand the impact of the change in their marketing strategies. They can also gain accurate insights into the ROI of their marketing efforts. Quantzig’s analytics solutions have helped more than 55 Fortune 500 companies to make data-driven decisions and amplify revenues. Below, we have rounded up some of Quantzig’s recent success stories for this week and have also highlighted ways in which taking the help of analytics in marketing has helped businesses to stay ahead of the curve.
#1: Analytics in marketing optimized marketing spend: Are increasing complexities in operational support services worrying you? Don’t get worked-up, you are not alone! One of Quantzig’s clients faced the same business problem. To deal with the problem, they approached Quantzig to leverage its expertise in offering solutions for analytics in marketing to analyze the market data and effectively manage their marketing investments, optimize marketing spend, and improve ROI. Also, our marketing analytics proved very helpful in managing the service categories and address potential threats in the market.
#2: Leveraging marketing analytics solutions to re-prioritize product offerings: Are you struggling to access or integrate customer data and preferences? If so, you must go through our latest success story, where Quantzig’s marketing analytics solutions enhanced the client’s product offerings by penetrating new market segments. With the help of analytics in marketing, it is easy to devise robust business models and stay relevant in the entertainment industry space.
#3: What do you need to keep in mind while dealing with marketing analytics?: Businesses can no longer rely on intuition for making marketing decisions and are, therefore, leveraging marketing analytics solutions. However, they need to follow a few steps while leveraging marketing analytics solutions like data collection and segregation, choosing the right analytics visualization techniques, utilizing marketing analytics tools featuring machine learning and AI, and personalizing campaigns.
#4: Analytics in marketing paved way for unique customer experiences: Personalized customer experiences form a very important part of marketing. Don’t you agree? With the changing consumers’ behavior, organizations have felt the need to embrace technologies to meet the ever-growing array of demands over the past few years. But delivering maximum value at each customer touch point is the challenge that every business faces. Quantzig’s client was facing the same issue and tackled it by leveraging our marketing analytics solutions. The use of analytics in marketing proved beneficial in devising predictive models using a blend of variables.
#5: Analytics in marketing personalized customer engagements: Are you wondering how to improve customer engagements? Using analytics in marketing can help! By leveraging our marketing analytics solutions, one a company was able to deliver maximum value at each customer touch point by mapping analytics to specific stages in the customer’s journey. Furthermore, this enhanced resilience, operational efficiency, and performance resulting in better ROI.
In the current market scenario, the telecom industry has already established itself as one of the most significant sectors in the world. With the telecom industry changing at a breakneck speed, it has become crucial for telecom services providers to improve their core business processes by zeroing in on strategies that have a direct impact on the bottom line. Thus, companies in the telecom services sector can leverage marketing analytics tools to access the data and make effective marketing decisions. Additionally, with software-as-a-service continuing to witness high demand in a lot of sectors, telecom industry players will need to take advantage of this development by improving their data infrastructure. As customers are more empowered, and dissatisfied customers flock to competitors.
It becomes crucial for companies in the telecom industry to leverage marketing analytics tools to know their customers as well as their business to secure the efficient transformation of data into insights and create a competitive advantage in terms of targeting and retaining their customers. For conglomerates looking to quantify the impact of marketing spends, it becomes imperative to associate with companies that have experience in offering effective marketing analytics solutions.
The Business Challenge
The client, a leading player in the insurance industry, approached our team of experts to help them devise effective marketing analytic strategies. They also wanted to leverage marketing analytics solutions to gain a full view of their customers across channels. The insurance company was also looking at implementing marketing analytics to anticipate customer and market behavior and respond proactively to their needs. Additionally, they wanted to gain valuable insights to implement better strategies to address and serve their target audience.
Our solutions helped the insurance company in combining speed with intelligence to gain a stronger foothold in the insurance sector. It also assisted them in predicting their customer’s response to various offers and develop targeted marketing strategies. Moreover, our marketing analytics solution allowed the insurance company to tailor the content, timing, and delivery channel of offers to meet the preferences of customers. Also, it helped them build better products based on market expectations and brought about business growth.
Marketing Analytics Solution Predictive Insights
Deciding whether or not your company needs to implement an effective marketing analytics platform calls for the same evaluation steps involved in software adoption. It includes a comprehensive analysis of your organization’s management capabilities, business needs, and financial resources. Marketing analytics helps in measuring, analyzing, and managing market performance to optimize return on investment (ROI) and maximize business efficiency. Also, beyond the apparent sales and lead generation applications, marketing analytics can offer profound insights into customer preferences and trends.
It also helps insurance companies in identifying the target customers and accordingly design the right marketing campaigns to suit different customer segments. Also, our insurance industry clients partner with us to optimize customer experience across channels, with a goal of refining their wallet share, customer loyalty, and lifetime value.
Insurance Industry Overview
Over the past few decades, the insurance industry has gone through a tremendous change as a result of deregulation, globalization, and terrorist attacks. However, the improved economic outlook is expected to fuel the growth of the global insurance industry in the coming years.
As technology brings about rapid innovations, higher end-user expectations, and other such disruptions in the insurance industry, the insurers have to focus on improving their bottom-line profitability, top-line sales, and effectively address challenges to sustain themselves in a dynamic marketplace. Several factors have to be considered when it comes to insurance, and both the investors and consumers should concern themselves with the insurer’s ability and financial capability to meet ongoing obligations to policyholders.
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The client: A prominent organic food supplier, Revenue: $1.8 billion in revenue, Area of engagement: Customer analytics
The global organic food industry is witnessing promising growth due to the increasing health benefits of organic food consumption, rising per capita spending, and growing health concerns. With the continuing shift toward product innovations, the industry at large is focusing on refining their marketing strategies to enhance their production capabilities. Also, the implementation of stringent initiatives by the government is compelling businesses to offer more authentic and reliable food products in their product offerings.
Here are some of the prominent factors influencing the growth of the industry.
- Influence of e-commerce platforms: The growth of e-commerce platforms is providing customers with more choices, allowing them to choose from an array of products. With the growing concerns pertaining to convenience, consumers can gain access to organic food through their mobile devices. This, in turn, can save customers the effort and the time while purchasing products.
- Safety in the food products: Due to issues with perishability, prominent retailers are facing pressures to improve the quality of the products offered. As most of the retailers face short-term turnovers, it becomes essential for the suppliers to respond quickly to the retailers’ needs while curtailing the time required to deliver the products to the end-users.
To address such challenges and meet the growing demands of the customers, leading organizations are leveraging customer analytics solutions. An effective customer analytics solution helps businesses gain timely and relevant information about the preferences of the customers and predict how customers will interact with the organization. The solution at large will also help businesses accurately predict the future buying behaviors of the customers.
The Business Challenge
The client, a renowned organic food supplier, wanted to understand the buying habits of the customers and target the right customers with highly relevant offers. With the help of a customer analytics solution, the client further wanted to increase response rates, customer loyalty, and ultimately enhance the ROI. Moreover, by identifying the industry best practices, the organic food supplier wanted to target the ideal customers that are likely to respond and reduce campaigning costs. The primary concern of the client was to assess the attrition levels by identifying customers that are likely to churn.
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The Solution Benefits and the Business Impact
Strategies that we recommend to increase customer satisfaction and enhance revenue opportunities
The solution offered by Quantzig helped the organic food supplier segment the customers effectively and better target the profitable segments. The engagement also offered insightful ways for the client to develop customer loyalty programs to develop proactive campaigns to retain them. The customer analytics solution also focused on ways to describe the past buying behavior and predict the future behavior. The organic food supplier was able to understand the individual relationship of the customers with the brand and engage with the customers through the right channel, the right message, and at the right time.
Customer Analytics Solution Predictive Insights
Quantzig’s customer analytics solution helped the organic food supplier predict the customers that at a high risk of churn and take effective actions to retain them. The engagement also helped the client measure the customer’s sentiment through effective social media campaigns. In addition, the solution also helped the organic food supplier maximize the customer lifetime value through up-selling opportunities.
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The client: Pharmaceutical products supplier, Size: >34 billion in revenue, Area of engagement: Customer segmentation
The rising skepticism over the ever-escalating prices on pharmaceutical products is compelling organizations to improve their innovation capabilities and increase investment in R&D. As people are gaining more access to healthcare, prominent businesses are planning to manage healthcare funding and tender effective measures to narrow the price gaps between local and international brands. Along with urbanization, the rise of aging population, changing lifestyles, and increasing incidences of chronic diseases will drive the growth of the pharmaceutical products space.
Although the pharmaceutical products space is witnessing a promising growth, several factors may influence the growth of the sector over the next couple of years. These include.
- Poor scientific productivity: The incidences of chronic diseases is witnessing a manifold where it becomes essential for the pharmaceutical products manufacturer to invest highly in innovations to meet the constant customer demands. With the relatively slow growth of the healthcare space, businesses need to ensure better production capabilities while meeting the quality requirements.
- Drug approval stagnation: The regulations set forth by the FDA becomes an obstacle for many leading pharmaceutical products manufacturers. So, organizations need to maintain a balance between safety and innovation in the products while entering the market.
- Rising customer expectations: As the pharmaceutical products space is shifting to a patient-centric environment, the consumers buying preferences are altering and are looking for a fast-relief in curing their illnesses. The relentless demands of the consumers are forcing businesses to produce products in an agile and seamless manner.
To counter these challenges and effectively meet the growing demands of the customers, organizations are leveraging the need for a customer segmentation solution. Customer segmentation helps businesses divide the customer base into sub-segments to tailor their marketing efforts adequately. Customer segmentation also helps businesses gain a deeper understanding of their customers’ preferences and needs to maximize cross-selling opportunities.
The Business Challenge
The client, a prominent pharmaceutical products supplier, wanted to stay ahead of the competitors and identify new products to meet customer expectations. The client wanted to segment their customers based on the needs, behaviors, and demographics. Moreover, through an effective customer segmentation engagement, the pharmaceutical products supplier wanted to develop value-based segmentation to understand the revenue they generate. The primary concern of the client was to create and communicate targeted marketing messages to resonate with the specific group of customers.
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The Solution Benefits and the Business Impact
Strategies that we recommended based on our analysis to help clients promote sales and business development
The customer segmentation solution offered by Quantzig helped the pharmaceutical products supplier identify ways to improve product and service opportunities and establish a better relationship with the customers. The solution also sought ways for the client to differentiate customers based on their economic value. Moreover, prominent products supplier was able to predict and anticipate the most profitable customers and allocate their capital resources efficiently. The client was able to differentiate their products with that of the competitors’ offerings and improve their performance in the market.
Customer Segmentation Solution Predictive Insights
Beyond the product offerings, gaining adequate insights into the customer preferences allow organizations to offer better customer support and professional services by developing more focused marketing messages to best fit each customer segments. Moreover, the pharmaceutical products supplier can identify the most lucrative opportunities and ultimately increase revenues on investment.
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LONDON: Quantzig, a global analytics services provider, has recently completed their latest marketing analytics solutions for a leading food service sector firm. Increasing economic volatility, changing consumer preferences, and market dynamism have affected players in the food service sector. This is urging companies in the food service business to look out for ways to meet the relentless demands of their customers.
With supply chain management and inflation factor affecting sales in the food service sector, many companies have resorted to using marketing analytics to improve their marketing initiatives, devise strategies, and boost profitability across business units. Such analytics solutions also help companies enhance ROI and marketing attribution rates. – An industry expert from Quantzig.
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The marketing analytics solution helped the client judge the actual ROI of their social media and email marketing activities. The client was also able to optimize their marketing activities and streamline their efforts to improve sales performance.
Additional Benefits of the Marketing Analytics Solution
- Diagnose deficits in their specific channels
- Adjust strategies to enhance their overall yield
- Understand customer behavior across multiple locations
- To know more, request a free proposal
To know more about how our marketing analytics solution helped the food service sector client
The client: Food service company, Size: >$5 billion in revenue, Area of engagement: Marketing analytics
Typically, the food service industry comprises of food chains and restaurants that aim at increasing their customer base by offering low-cost options. The food service sector is significantly affected by altering economic volatility, market dynamism, and consumer preferences. Therefore, leading companies within the industry space are exploring ways to meet the relentless demands of their customers and improve the expectations. However, several factors are influencing the growth of the food service industry. These factors include:
- Supply chain management: The food services industry mainly relies on the supply chain to reach out to the markets and meet the relentless demands of the target customers. With the slow recovery of the economy, the supply of goods and commodities are likely to get affected, and consumers are expected to witness a decline in the supply of products across the food service
- Inflation: Countries across the globe are witnessing fluctuations in product prices due to the recent economic instability. Additionally, shopping patterns of the customers have been disrupted owing to the recent collapse in the prices of the supplies due to Brexit issues.
As a result, leading food service firms are leveraging marketing analytics solutions to meet the growing demand for quality products and target niche market segments. Marketing analytics helps companies in the food service space improve their marketing initiatives, devise strategies, and boost profitability across business units. Such analytics solutions also help companies enhance ROI and marketing attribution rates.
The Business Challenge
According to a recent survey, it is estimated that less than 1% of the sales across the food service industry occur online.
The client, a leading food service firm, wanted to gain insights into the customer preferences and perception about new products. The client also wanted to measure, manage, and analyze the marketing performance to enhance market efficiency and ROI. To stay ahead of the competition, the client wanted to predict outcomes and allocate resources to meet the business requirements.
With the help of marketing analytics, the food service firm wanted to seek ways to monitor marketing campaigns, understand the overall sales performance, and monitor the impact of trends on the growth prospects of the industry.
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The Solution and the Business Impact
Strategies that we recommended based on our analysis to improve customer engagement and drive sales.
With the help of Quantzig’s marketing analytics solution, the food service client was able to determine the actual ROI of their activities in terms of social media and email marketing success. This helped them measure and optimize the marketing activities and streamline their efforts to improve sales performance. The client also wanted to re-prioritize their brand offerings and launch new products in niche market segments to reinforce their presence in the food service industry. Furthermore, they were able to diagnose deficits in their specific channels and accordingly adjust strategies to enhance their overall yield.
Marketing Analytics Predictive Insights
With the relentless growth of technology, food service establishments can make use of marketing analytics to enhance their business performance. Leading firms can leverage data to understand customer behavior across multiple locations better and make better use of their resources as the future of marketing analytics is shifting toward a more customer-driven outlook through technology-driven platforms.
To know more about how our marketing analytics helped the food service client
Marketing Analytics Why is it an Essential Ingredient for Building a Successful Business Strategy
As manufacturing companies are focusing on innovations to maximize cost savings and improve B2B automation, the management of goods supply becomes a major concern for most industry stakeholders. In the sporting goods space, leading companies are not only worried about gaining impressive savings but are more concerned about mitigating risks associated with the supply of goods. On the other hand, the changing preferences of the customers are compelling businesses to focus on category planning to effectively deliver value to the customers. Since sports activities have become the most effective tools for entertainment, leading firms in the sporting goods space are categorizing the products to meet the customers’ preferences. With the help of a category planning solution, renowned firms can focus on increasing sales, improving shopping environment, and enhancing customer loyalty. Furthermore, category planning also helps companies manage each product category to maximize consumer appeal and enhance their business ROI.
To understand the spending power of the customers and their decision-making process, renowned firms in the sporting goods space are approaching companies like Quantzig. With years of expertise in offering a plethora of services, Quantzig’s category planning experts help sporting goods companies effectively develop sourcing strategies and long terms plans to constantly manage the supply of goods. Moreover, sports equipment manufacturing firms can maximize cost-saving opportunities and effectively reduce additional spend.
The Business Challenge
A renowned sporting goods manufacturer with a considerable number of manufacturing units spread across the globe was facing predicaments understanding customers’ behaviors based on cultural, personal, and social factors. The client wanted to understand customer buying habits and decision-making process to position the products in an agile and seamless manner. With the help of the category planning solution, the sporting goods client wanted to profile the target customers and differentiate their product offerings. The primary objective of the engagement was to provide superior value to the customers and offer personalized services to the customers.
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Benefits of Category Planning Solution
The category planning solution offered by Quantzig helped the sporting goods manufacturer address issues pertaining to additional spend and gain up-to-date market insights in terms of the nature of players and the cost drivers. Moreover, the engagement offered real-time insights on the opportunity analysis to further drive value and increase stakeholder engagement. Furthermore, with the shift toward globalization, solutions such as category planning allow businesses to identify target commodities and opportunities and effectively enhance their ROI.
Category Planning Solution Predictive Insights:
- Leveraged spend and increased B2B automation by 20%
- Efficiently managed the supply of products across the target customer segments
- Understood the customer buying preferences and positioned their products accordingly
- Identified the KPI’s and adequately allocated the resources to meet the business requirements
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