• This field is for validation purposes and should be left unchanged.
analytics program enablement for growth-mindset organizations

Analytical CRM

 

The information acquired from analytical CRM models is invaluable to your organization. When executed properly, delving deeper into your customer relationship management strategy will deliver quantifiable results across multi-departmental channels. If you’ve considered investing your time, money and effort into understanding your customers on a deeper level, here are five more reasons to support your decision.


Customer Acquisition

How much do you know about your customers’ buying behaviors? Response modeling will help you identify those most likely to respond to your communication. If you could filter through your customer base and approach only those likely to act on your message, how much money would you save on marketing and promotion? How much more revenue would you draw by delivering the right message to the right target? Analytical CRM can define your greatest opportunity for potential.


Customer Attrition

Everyone loses customers, but what if you could predict attrition before it happened? Since keeping existing clients is easier than soliciting new ones, understanding attrition and the motivation behind it is essential. An attrition model can help you identify customers who are about to churn, enabling you to salvage the relationship and the customer’s lifetime value.


Time until Attrition

Rather than identifying a customer just before the point of churn, a predictive model focusing on time until attrition can allow you to predict churn well in advance. Use this model to address churn-related issues such as product performance, customer service, etc. By anticipating churn early on in the lifecycle of the customer, you can identify trends and behaviors and ultimately boost customer retention.


Revenue Dollar Model

Who are your most profitable customers? What are their purchase interests, latency behaviors, rates of churn? What if every customer of yours carried the same lifetime value as your best customer? By evaluating your existing clients and identifying the similarities among the most profitable, you can focus on prospects likely to deliver the same results. Analytical CRM can clone your best customers.


Customer Upgrade

How much revenue are you currently generating based on cross-promotion or up-selling? Is it more cost-effective to sell add-on products to existing customers, or seek out new customers entirely? The customer upgrade model of analytical CRM can answer these questions for you using demographics, buying behaviors and product interest.


To learn how The Modeling Agency can help create analytical CRM models to gain a better understanding of your customers, call us today at (888) 742-2454.