Customer Loyalty and Targeting
If you’re running, or planning to launch, a loyalty program it’s crucial that you have a strong strategy with clear objectives and that you set the correct metrics to measure success, but you should also implement analytics to support the realization of value from your program. The information you collect in your program will allow you to attain a deeper knowledge of your customers.
Our market basket, segmentation and recommendation engine products help you better target your customers. For example, we can use your loyalty program data to perform analysis and then use additional models to test whether different offers and promotions affect their spending. Our ability to process huge amounts of data fast means we can look at 80,000 products and the purchases of up to 20 million customers in 30 minutes (a process that traditionally took 20 hours).
Our products can provide analysis of:
- Customer segmentation: membership details, demographic information
- Retention rates: program use, offer take-up, repeat purchase, gauge loyalty levels
- Churn and negative churn: identify pre-churn customers and present them with targeted offers and promotions; cross and up-sell using a recommendation engine
- Customer satisfaction / referral likelihood