In today’s information age characterized by increased connectedness and social media, consumers are much more informed, demanding and discerning – and possibly less loyal – than ever before. Companies in every industry must work harder to get a more complete and in-depth understanding of their customers in order to acquire, engage and retain them. Fortunately, most companies also have an enormous amount of information about their customers including demographics, product preferences, channel preferences, social media sentiment, transaction history and brand interaction data. Customer loyalty analytics can help companies look at all this data to drive sales, improve customer experience and maximize business value.
Analytic Edge’s Customer Loyalty suite is an easy-to-use desktop tool that helps companies determine customer-centric strategies to increase revenue. It facilitates analyzing customer segments in various ways, for example, by profitability, by usage, by potential to respond to offers or by potential lifetime value and helps identify the right offers to the right customers to increase engagement and value.
Key Features & Benefits
- Intuitive Desktop Tool: Analytic Edge provides a comprehensive set of customer loyalty analytics capabilities via an intuitive, easy-to-use desktop tool.
- Customer Acquisition Targeting: The solution uses analytics to identify potential customers for marketing campaigns and optimizes the ROI on customer acquisition campaigns.
- Cross-Sell and Up-Sell Targeting: Increasing how many existing customers spend can drive higher customer engagement and revenue. The solution identifies customers who are most likely to buy an additional product or service as well as medium, message and incentives that would trigger additional purchases.
- Churn Management: Advanced analytics predicts the churn probability of all customers in the database and identifies the characteristics and needs of the churners. This helps in devising and rolling out effective and targeted retention strategies.
- Customer Lifetime Value Maximization: Identifying potential high value customers, their needs and motivations and where they are in their life cycle can provide useful answers to maximize value. The solution uses behavioral data and predictive modeling to calculate lifetime value of the customers in the database and provides insights on how best they can be targeted and served.
- Loyalty Dashboard: This powerful module provides a scorecard and tracking system that manages loyalty programs and integrates it with internal systems. It provides up-to-date analysis of sales and loyalty management.
- Full Service or Do-It-Yourself Options: The solution can be offered as a full-service option for companies that prefer to outsource the process, or as a do-it-yourself solution with adequate training and back-end support.