Keeping a customer is almost always cheaper than acquiring a new one. Easier said than done in today’s world of increasing customer promiscuity. In large mature industries such as telecommunications, most marketing from competitors is aimed at stealing customers with attractive offers.
Many companies have loyalty programs, but not all produce the right results. In some instances, getting more customer data warrants the investment in loyalty as it can help inform promotional tactics to drive sales. In other cases, funding any direct or indirect rewards can only be justified with a direct and immediate impact to reduction in churn and increased sales per customer.
What we do
- We conduct a customer profitability analysis to prioritize the customers that are most important to retain
- We analyze customer behavior patterns to isolate the factors that are most responsible for churn and, when needed, we conduct specific customer research to test the tactics that are most likely to drive engagement
- We help our clients design specific programs and tactics to retain customers and better engage them
- We help our clients design a formalized loyalty program when appropriate, from funding levels to tiering to rewards. We help determine whether to create a standalone program or join a coalition, what data to capture and measure, which parts of the program to outsource and how to organize internally to manage the new stream of activity.
Contact us to get started.
- Churn analysis
- Loyalty program design
- Focus groups
- Quantitative surveys
- Journey mapping