Put your hands up if you analyse your existing customer data? Whether it be:
- customer transaction data – purchase history data linked to an account (ie: store card, membership number etc)
- non purchase data (ie: online shopping cart abandonment)
- behavioural, interaction or engagement data (whether it be website, social network, email, direct mail, &/or call centre data)
- non-response (ie: customers who didn’t open an email or opened but didn’t click to your website)
Hopefully all of you.
Put your hand up if you analyse ALL this data and make sense of it by applying the key trends back into a documented activation or contact strategy?
Aha. Not many (if any)!
Unfortunately today, many businesses have become so complex and silo’d that they simply can’t see a single view of a customer. And even if they have integrated all their systems, they’re drowning in data and seem to have forgotten about the basics.
Customer lifecycle and product lifecycle
KISS – keep it simple and map out appropriate customer lifecycles based on your existing data, ie: repeat purchase patterns for different customer segments.
Then match it to your product lifecycles, ie: key milestones in product usage.
You’ll soon see key trends staring you in the face and some quick win activation opportunities that you didn’t need a $150k consultancy to take 6 months to tell you!
Need help?
And if you’re still scratching your head saying what the hell is this guy on about, then you’d better email me: anton.buchner@frontfootconsulting.com.au
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