CustomerAnalytics

One of the most powerful tools you can utilize to drive customer acquisition, retention and cross-sell/up-sell, is Customer Analytics. While consumer research can tell what consumers in SAY about how they think, feel and act in your category or with your product, analytics of your customers tell you exactly what they DO – what they actually buy, when they buy it, at what price, and with what other products if any. Customer analytics can tell you what customers do today, and help predict what they may do in the future.  They can segment your customers by value, and lifecycle stage, and target programs to get the most out of each customer. Lumena can help you implement and utilize customer analytics on your business. Profiling of non customers to enhance customer acquisition is also possible.

Using Customer Analytics helps you attract new customers, retain existing customers, and drive revenue/customer, to help drive profitable growth. It is a numeric-based way of finding out how individuals and groups of your customers behave, and why, allowing you to offer them what they want, in a profitable way. This is because one size usually does not always fit all.

Lumena can help you implement a customer analytics capability if one does not exist, or can work with existing analysts to help direct analytics to support the Customer Proposition, Brand Plan, and/or Brand Plan Execution. It starts with a Customer Analytics Needs Assessment, which in turn could lead to any of the following analytics initiatives:

1. Lifecycle Management Plan development for acquisition, retention, and winback of customers.
2. Profiling of existing or lost customers.
3. Profiling of markets and non-customers to increase customer acquisition probabilities.