WIN

Analysis and segmentation allows a business to understand what the customer base looks like; where it is strong and weak compared to the marketplace as well as the size and characteristics of the prospect base. This must now be used intelligently to influence customer acquisition strategy through:

• Targeting - developing propensity models to understand likelihood to respond, to be retained over time, and to be profitable to ensure that we focus marketing activity “best fit” prospects.
• Communication – One size fits all or highly differentiated? DM, telemarketing, new media, or integration of one or more channels? Ensure right person, right offer, right time and right channel.
• Response Handling – the first “moment of truth”. We’ve made the prospect aware, created the desire and gained the commitment of a purchase or initial transaction. How often do businesses fall down at this first hurdle? Contact centre queues, disjointed data processing, fulfilment problems may be understandable to us but not to the new customer. How do we balance capacity and demand to generate satisfied customers and cost effective marketing spend?
• Response Analysis – what worked, what didn’t work and how do we apply this knowledge to improve both profitability and customer experience?