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Remembering that not every customer is created equal can be crucial to winning your game of “Winback Hide & Seek.” A number of issues can cause customers to appear to go into hiding, but before seeking them out, you must determine if they are really hiding, waiting for you to seek them out or lost altogether. Looking closer at how your customers have interacted with your brand will help you figure out if they have truly been lost.
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Understanding the lifetime value of customers is a cornerstone-centric marketing approach throughout the entire customer lifecycle built on treating customers as assets and focusing on acquiring, developing, and retaining customers with high potential value.
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On the webinar, Brandon talked about how companies are using customer lifetime value to win, serve, and retain customers today. He also presented best practices for overcoming the data and organizational challenges typically associated with lifetime value. Finally, he revealed on how to get started with lifetime value.
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Staying relevant is the key to surviving in today’s world. The world is advancing at a phenomenal pace. How do you keep up with, harness, and leverage the vast amount of information available to you?
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Customer retention is much more than simply measuring how many customers are still active 12 months after they begin a relationship with your company. It’s much more than trying to please everybody who walks in the door or orders from your online store. It is, in fact, a perpetual process that is all about profitable allocation of limited resources. How best to focus your dollars to know where customers are in the buying cycle, what behaviors distinguish one customer from another and which customers are worthy of effort in moving them toward upward migration. The key and often overlooked component of retention is to have the discipline to ignore the disengaged.
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It’s no secret…Insurance companies have a wealth of data and have historically used data to minimize risk and run their business. According to Forrester Research, insurance firms are sitting on more structured, semi-structured, and unstructured data than any other industry
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Analytics means different things to different people and that’s OK! The common themes are as follows. Given the continued interest from clients about Analytics, I feel the need to use this platform to describe what is happening in the Predictive Analytics Ecosystem. These are exciting times for Allant and I’m thrilled that we have the resources with analytics in their DNA to help us navigate all of the buzz. With the proliferation of data and “analytics” in the marketplace, I often need to ask folks externally, “WHAT DO YOU MEAN BY ANALYTICS!”?
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There’s no doubt that the B2B predictive data analytics revolution is upon us. According to Forrester Research’s July 2015 report, “New Technologies Emerge to Help Unearth Buyer Insight from Mountains of B2B Data,” almost “two-thirds of business decision-makers are implementing or upgrading predictive analytics solutions today or plan to do so within the next 12 months.”
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