Grow your customers’ spending depth!

Mining on customers' transactional data using basket analysis techniques, marketing and sales leaders are able to identify opportunities in segments with poor integration, and develop personalized marketing strategies that can lift sales volume by more than 10 percent, and improve ROI by five to eight times compared to mass marketing.

Case A

Improve customer Loyalty using the intelligence of marketing analytics in Retail Sector

The issue: ClientIQ was called by a retailer, to design its 12-months portfolio strategy, using the intelligence of customer analytics, aiming to drive business growth. 
 

The actions: Aiming to address the issue, ClientIQ developed a stepped approach. First, the analytics team performed a data cleansing and customer unification exercise, to introduce to the business a “single customer view”, while in parallel the strategy team proposed process enhancements related to the data retrieval practices followed by the business. Second, aiming to understand the spending patterns of our client customer base and identify key focus areas of growth, the analytics team performed a detailed portfolio spend deep dive covering portfolio segmentation & clustering, customer level basket analysis and sales trends, customer profiling with development of relevant marketing personas. As a final step, the analytics and marketing teams, redesigned the marketing strategy for the 2 prevailing portfolio segments of our client, using the intelligence of predictive analytics.
 

The results: Using ClientIQ’s structured approach and methodology, our client experienced a 6% increase in customer loyalty, 4% decrease of the inactive portfolio, 6% net sales growth compared to prior year, and 8% annualized sales growth.

Case B

Basket Increase by expanding spending diversity

The issue: ClientIQ was called by a multinational credit card issuer, to design a targeted marketing strategy on engaged customers aiming to gain share from competition and attack cash transactions.
 

The actions: Using customer transactional history, basket analysis techniques and customer characteristics, ClientIQ analytics team developed a customer spending profiling tool based on which segments with low diversity have been selected for a customized marketing strategy designed to promote usage in underutilized areas of spending.
 

The results: Using ClientIQ's methodology, customers contacted increased spending diversity by 8% during the promotional period and 7% thereafter indicating a permanent shift in card usage patterns, resulting to a 23% uplift in their overall spending basket during the promotion and 13% in the following months.