One of the clients had been measuring the value of the customers by just measuring the revenue generated by them as is done in traditional approaches. Our solution helped the client to understand the various parameters in order to increase the customer engagement and thus customer retention.
Creation of metrics to measure the value of customers
• Identification of the type of consumer interactions
• Classifications of consumers based on the types of interactions
• Derivation of Customer Value Metrics (CVM) based on the past behavioural patterns and forecasted the behaviour
• Creation of dashboards to track the consumer behaviour
• Measured the CVMs
• Understanding the consumer behaviour
• Comparison of the performance with regard to different time frames
Tracking the performance of across varied locations and understanding the parameters driving the trends which helped in formulating better marketing strategies.