Customer Value Maximization solves retail challenges
In a previous post, we talked about how Customer Value Maximization could assist retailers in overcoming the marketing challenges that typically ail the industry. In this post we enumerate a few real-life instances of the changes that Customer Value Maximization has brought about for retailers.
One of Europe’s largest loyalty companies was suffering from multichannel contact problems. When they approached Xerago for solutions to overcome the same, a preliminary assessment was carried out. The results revealed a huge process overhead caused by manual interventions. Xerago devised a solution that combined process and technology to make an impact on the channel. We set up campaign management platforms and provided ongoing support and guidance to manage campaigns. This helped improve campaign velocity by 200% without any changes in head count. Further interventions have ensure ongoing increase in campaign velocity.
One of India’s largest mobile retailers was struggling to deal with segment and channel related problems and approached us to solve the same. The initial CVM assessment revealed need for a combination of online lead generation and processing of the generated leads. We developed landing page copy & implemented intent-based segmentation on promotion copy & landing pages leading to higher funnel conversion. This solution massively improved ITL/CTL as well as sign-ups and product sales. We subsequently carried out similar campaigns for the client.
One of Phillipines’ leading retailers was facing lifecyle, segment and channel related problems. When we were asked to identify and solve the problem, we conducted an initial assessment that revealed the possibility for using a combination of existing infrastructure with the new concepts. We devised a corrective plan that utilized analytics and technology. Xerago created score for loyalty members, using existing Churn and RFM Models and developed rules to ensure customers are exposed only to relevant communication. This solution leveraged insights from existing technologies and increased loyalty among customers. It also delivered relevant offers to customers based on their proximity towards the retail outlets.
Customer Value Maximization works by analysing marketing programs in a holistic manner to identify shortcomings, implement required interventions and optimize results on an ongoing basis. Retailers can no longer succeed with cosmetic alterations to their marketing programs.
To truly succeed, an amalgam of data scientists, creative crews, media experts and marketing genius is needed. Customer Value Maximization builds the right antidote by combining such diverse and disparate streams to provide the break-through results Retailers seek.
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