Challenge:
Our client tasked us to execute a CRM transformation project aimed at defining customer interactions, boosting financial performance, and refining omnichannel analytical capabilities to enhance customer segmentation and predictive modeling for personalized offerings.
Approach
• Development of an extensive data dictionary encompassing various customer profiles, including preferences, behavior, transaction history (purchases, loyalty program usage), needs assessment, and predictive modeling for Next Best Offer (NBO).
• Identification of distinct customer clusters (active, inactive, and potential) by analyzing demographic details, preferred channels, product preferences, and purchasing patterns.
• Conducted in-depth analyses of purchasing cycles and product preferences among repeat customers to understand buying behaviors and product affinity.
• Formulation of tailored sales strategies leveraging insights from the NBO model to generate sales opportunities and personalized customer interactions.
Impact:
• Fostered a cohesive understanding of business priorities across departments, fostering a unified approach to customer-centric strategies.
• Achieved integration and alignment of sales, service, and operational functions through a comprehensive view of customer data and interactions.
• Defined and implemented targeted value propositions, campaigns, and marketing communications tailored to macro and micro customer segments, enhancing customer engagement and loyalty.