Improve Acquisition and Retention with Meaningful Customer Insights
Today’s “stable” marketing environment is a network of brands, consumers, media channels, and technology that enables co-dependent relationships to function in a world of constant change. A static analytics strategy that doesn’t account for this complex dynamic and the inevitable changes in customer behavior to come, risks putting strong brands in the rear-view mirror. Consumers will move to the brands who best anticipate needs, solidify loyalty, and deliver fulfilling customer experiences. This is why 89 Degrees invests in the best analytical tools and talent needed to help our clients improve their acquisition and retention strategies today and build the foundation from which they will continue to thrive.
Our services reflect our commitment to enabling customer engagement through data-driven insights, adaptation, and results. Interested in learning more about our team of data scientists – who we affectionately call the Champions of Data – and what they can do for you? Download our Advanced Marketing Analytics services overview or click Let’s Chat to request a discovery call.
Chart your path to maximum gain.
Our analytics team is capable of providing clients a thorough review of their existing customer base, mapping all customers by their level of engagement (the manner and depth of customer interactions) and value (what types of products and offers the customer purchases). Using this framework, we are able to see where significant marketing opportunities lie:
- Do you know who your best customers are?
- Are benefits and promotions rewarding key customers?
- Is investment focused on driving customers to higher levels of engagement and value?
Without proper goals, any marketing campaign will suffice. For those who prefer to know where the best results are found and how to achieve them, take the first step by requesting an opportunity analysis from 89 Degrees today.
Your tools for tackling big problems.
Your analytic foundation is what makes all else possible. Regardless of your current state of skills and processes, we can evaluate your capabilities and provide the added analytical expertise to develop the missing pieces or provide the ongoing analysis needed to tackle larger customer engagement issues. With 89 Degrees’ proven approach to building a top-performing analytics engine, you can increase customer acquisition, retention, and campaign performance with today’s most effective tools, including:
- Customer Segments and Descriptive Analysis
- Predictive Modeling
- Prescriptive Modeling
- Reporting and data visualization
- Big Data Analytics and Data Mining
If your analytics engine is stalled, leaving your marketing campaigns starving for direction on where to spend, what to message, and who to target, we can help.
ROADMAP TO ADVANCED MARKETING ANALYTICS
Solidify your analytics foundation with these tools.
Start with Segmentations that clearly define your customers, followed by 4 Predictive Models that are must haves:
- CUSTOMER VALUE (RFM AND LIFETIME)
Measure business health, track retention and attrition, and guide investment decisions to keep customers proﬁtable.
- PRODUCT INTEREST
Use purchase and browsing history to develop propensity scores, personalize communications, and feed merchandising processes.
- PROMOTIONAL RESPONSIVENESS
Maximize budget effectiveness by predicting who will react to an offer, how rich that offer should be, and whether it drives longer term loyalty.
- CUSTOMER ENGAGEMENT
Use non-purchase browsing to trigger communications across relevant channels and improve product affinity measures, loyalty, and long term value.
Build logistic regression models to predict likelihood to stop shopping. Brainstorm behavior indicators and ensure these are in your data set.
Use logistic regression to model response (shop or redeem rate). Use linear regression to predict spend of responders.
- NEXT BEST PRODUCT(S)
Use historic patterns of similar customers combined with category and product affinities to predict the best next product or product category. Include product-driven segments if these exist.
- BEST OFFER
Build response models (shop, redeem, spend) for each offer and compare directly or use an
optimization engine to pick best next offer.
CUSTOMER JOURNEY ANALYTICS
Utilizing customer analytics for continuous improvement.
A proper customer journey analysis informs on all facets of customer experiences, providing a deeper understanding of all touchpoints and potential gaps of missed opportunities. 89 Degrees accomplishes this with a team of data scientists proficient in delivering the analytics needed for complete customer journey management, providing the crucial foundation for understanding true customer behavior along with the much needed direction to improve journeys with superior outcomes.
Since much of a customer’s decision process happens online, we start with each client’s web data and classify each session based on obvious journeys like “New Movers” or “Abandoned Cart” scenarios. We also classify customer intent – Are they generally browsing or seeking something more specific? Are they looking at credit terms or using planning tools? We then overlay other touchpoints, like email and customer service data, to understand which journeys are important based on volumes of customers and actual, channel-agnostic sales.
Our truly data-driven approach to customer journey analytics allows marketers to spend more of their time focusing on how to optimize the journeys that exist, rather than brainstorming what might be happening. If you’re interested in optimizing customer journeys with analytics that seize on buying signals and predict optimal next actions, click Let’s Chat and we can get started extracting more value from your data today.
PERSONALIZATION & OPTIMIZATION
Getting out of the data doldrums.
A core competency for today’s digital marketer is the ability to engage all customer segments with relevant messaging that drives optimal results at scale. If your systems are not tuned to easily guide your campaigns for maximum ROI, we can help. Our advanced marketing analytics team is well practiced in predictive analytics, including:
- Likelihood to attrite or shop, redemption rates, customer spends and lifetime value using logistic and linear regression models, or advanced machine learning algorithms
- Historic purchasing patterns of similar customers combined with category and product affinities to predict the best next product or product category
- Model scores to feed an optimization engine when dealing with multiple offers or coupon choices combined with budget limits
Marketers have enough on their plates to worry about – lack of direction from their data shouldn’t be one of them. See how 89 Degrees can put the wind in your sails when it comes to personalized and optimized customer engagements.
MEASUREMENT & EVALUATION
Data democratization for all.
As large enterprises continue to pursue new ways of leveraging their data for competitive advantage, the need to empower marketers with meaningful customer insights and the tools for self-discovery will only increase. A lucky few have the analytical talent and resources to develop and support an ecosystem designed specifically for non-data specialists to capture, measure, and evaluate all relevant customer data. For most, there is a gap in deliverables – between readily available canned reports and time intensive, analyst generated revelations – that hinders data-driven marketers. This hindrance prevents decision makers and key stakeholders from responding near real-time to innovate, test, or make course corrections for underperforming campaigns – effectively handing competitive advantage to the opponents who address their own insight gaps.
89 Degrees doesn’t believe in insight gaps. Our clients’ success is built in part on our ability to identify and remove these gaps from the playing field. We do this by providing marketing teams the capacity to:
- Measure and generate ROI reporting
- Assess both business and customer health
- Track media efficiency with attribution modeling and reporting
- Continuously evaluate loyalty program effectiveness
Contact us if you have an insight gap restricting you from flexing your competitive muscles.
Case Study: Insight Into Media Efficiency
This case study details an attribution modeling and reporting project to help a multi-billion dollar retailer gain needed insight into media effectiveness, channel performance, and media impact on existing vs new customers, enabling key stakeholders to make mid-campaign spending adjustments and generate measurable gains.READ NOW
Marketing Analytics Projects Guide
For marketers interested in advancing their customer journey management effectiveness, read our guide featuring 3 marketing analytics driven projects that can deliver immediate value and make your CEO happy.Read Now