Understand, acquire and retain customers.
In today’s market it’s imperative to understand individuals in more detail, to be able to greet your customer by their full name, use their favourite images, offer them products that they will be interested in and that they can afford, through their preferred communication channel. Knowing who you’re talking to, what drives them to purchase and what would turn them off can be the difference between an organisations success or failure.
Customer Retention & Acquisition
We can help you get a clear understanding of your customers and prospects so that you can make appropriate strategic decisions. Our statistical modelling technology and techniques can identify which customers and prospects will be the most responsive to your campaigns and ensure that you retain your most profitable customers. We work with many brands on their customer retention and acquisition strategies.
Our analysis services can help you:
- Make informed targeting decisions
- Discover the key characteristics of your customers
- Increase response rates by targeting more effectively
- Predict the behaviour of prospects and customers
- Use your customer profile to find more of the same for prospecting
- Cross & up sell to the most responsive existing customers
- Focus on markets and sectors with high potential
- Recognise those customers who are likely to lapse in the future
Risk Management
Effective targeting requires an understanding of your customer’s lifestyle, demographics and behaviour, as well as their credit and risk histories. We can integrate risk analysis and marketing insight to help you make decisions about accepting customer applications, cross-selling and credit limits.
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Profitable customers:
Focus on risk, value and therefore profit rather than mass acquisition by developing worth-based application and customer management systems. We do this by using a combination of credit reference, geo-demographics, lifestyle, membership/ subscription, and internal payment and customer contact experience data.
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Multi-bureau systems:
Multi-bureau systems enable you to rank each bureau by accuracy and discrimination for each customer segment – achieving a further 7%-10% improvement in discrimination. Calibrated bespoke scorecards allow clients to seamlessly switch from one bureau to another with no change in operational interpretation.
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Portfolio assessment:
It is critical to understand the current position of your portfolio. We can assess how and where the portfolio has changed and can identify areas of the business on which to focus activity.
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Reduction of ‘early’ bad debt:
Our bespoke fraud and risk scorecards have provided improved identification of potential “never paids” and “early bads”. Strategies implemented using this measure requiring deposits, pre-payment or further verification, have resulted in a substantial reduction in early defaulters by up to 16%.