Optimisation
Many businesses put a heavy emphasis on acquiring new customers. In essence, this makes sense as acquiring new customers usually goes hand in hand with growth. However, attracting new customers can prove to be very expensive. In fact, it can cost up to 5 times as much to acquire a new customer than to keep an existing one. It is, therefore, essential that businesses balance retaining/upselling existing customers (CRM) and onboarding new ones in an efficient and cost-effective manner. We will help you do this through our Optimisation models.
How we can help:
Having leveraged the power of Single Customer View (more here) and Customer Behaviour Models (more here), we use advanced econometric and regression models to analyse the effectiveness of your marketing channels and campaigns. This is hugely beneficial for your marketing decision-making and strategising.
Acquisition
It is imperative you know which channels of acquisition are generating leads and at what cost. By using the lifetime value and preferences of each individual customer, we are able to determine which acquisition channel is driving the highest value customers at the most cost-effective level. This will enable you to appropriately and efficiently allocate your budget between your different acquisition channels.
We also analyse the content and time of send of your acquisition campaigns to optimise each campaign’s success. Combined with customer lifetime value, we will empower you to acquire more valuable customers cheaper than your competitors.
CRM
Our Optimisation models for CRM will empower you to efficiently & effectively plan, execute and evaluate all your retention, upsell & reactivation campaigns. You will know exactly which customers to target, which campaigns to run, the optimal time of day/week/month to send your campaigns and which communication channel to use. Your campaigns will be highly-specialised and ROI-driven which will maximise profits, sales & product engagement and minimise churn and opt-outs.
Budget
Optimizing individual channels is only part of the story. A data-driven marketing department will understand the impact/value of each and every channel across acquisition and CRM, and be able to allocate the correct budget and resources accordingly.
Our ROI-focused approach to budget allocation leverages Marketing Mix modelling and Causal Impact analysis to ensure you are maximising efficiency and cost-effectiveness in your marketing spend across acquisition and CRM.
You will be making the optimal choices with your marketing budget.