ASK YOURSELF SOME QUESTIONS
In theory, you should know all the answers, in reality however, not many people do.
1. What do your customers look like (SIC / SIZE)
2. What are your top performing sectors?
a. How do you measure ‘top performing’? Most customers or most profitable?
3. What are the buying trends of certain sectors?
4. What’s the frequency of purchases Vs sector
5. If some sectors only buy once, of small value. Identify these early, spend less to recruit them, and then mail them as customers less frequently
6. How many contacts per ‘customer site’ do you have?
7. Does the person you mail at a business order? Or is it someone else?
8. What’s the lifetime value of customers Vs the cost to communicate with them?
9. Is the buying decision at site/branch or head office level?
10. What’s the main job title of the contacts you have on your database?
11. What’s the size of the potential market place you could sell to?
12. What’s the SIC / SIZE breakdown of the business universe net of your customers
1. What do your customers look like?
2. What’s the demographic of your typical customer?
3. Lifestyle, hobbies, employment type, household income
4. What are the geo trends with your customers?
5. Do the all live around your stores, or do they follow the makeup of the uk population by geo
6. Are your customers buying from competitors, and how often, and how recently?
7. Cost to recruit VS cost to keep as a customer
8. Ratio of web to phone orders… Any trends?
These are just a few questions we ask our customers when we work with them… Through our suite of analytical and profiling tools. We can help you understand your customers better, which means you can understand where’s best to look for more!
The more we understand the metrics and buying behaviour of your customers, the greater the value we are able to add to your business. This will create the opportunity to rank your customers and adjust your communication strategy to suit their current and potential spend, based on recency, frequency and monetary value (RFM), and through a range of propensity modelling tools. We help you record and interpret why certain groups of customers have behaved and performed historically for you, and also mirror this intelligence into a new business acquisition strategy.
The benefits are vast and can assist with sales territory re-engineering, trade counter, branch locations, target setting vs potential, market penetration analysis, import /export, parent subsidiary linkage, global linkage and more…
Contact the Analytics team on + 44 (0) 1234 831000 or email firstname.lastname@example.org to discuss how our suite of analysis tools can help your business growth, and customer retention.