Customer Analytics
Business Case
- It is much more expensive to develop a new customer relationship, than to grow an existing relationship.
- Organic growth was slowing, and the business needed to take action.
Actions Taken
- Investigated and quantified repeat purchase incidence.
- Linked customer survey results to the modeled sales rep activity. This provided a profile which defined the sales rep's success.
Business Results
- Customer churn was quantified and identified as a significant problem. Only a fraction of the volume produced in the current year was associated with a previous year's business.
- The conclusions prompted the need for a loyalty study, the development of a process measurement system, and the development of a structured approach to customer contact.