Analyze your customer
Get to know your customer.
Customer analytics gives you more detailed information about customers. The information will be of use when developing and marketing products and services. When you actually know people, it is easier to decide what they might like and how to approach them.
The customer base can be analyzed from different points of view. Descriptive information can extracted with the help of static properties, such as age, gender, size of household, and type of residence. Information about variable factors, such as customer behavior, can be collected by analyzing the consumer’s movements, choices, and purchase events. Values and attitudes can be studied with the help of research data and by making them a part of the campaign concepts.
You can, for example, group your customers on the basis of their purchase behavior, future potential, or external information, such as residential area, attitudes and values, and media use. Once the company has completed the customer profile and has familiarized itself with its customers on the basis of purchase data, it can take a systematic approach to new customer acquisition. The most promising customer groups can be duplicated from external customer registers.
Customer analytics helps companies to
- identify the most profitable, potential, and fading customer relationships
- forecast changes in customer relationships and react to them
- set up customer relationship programs for different kinds of profiled segments
- further specify target groups and achieve savings in marketing expenses
- determine the best channels for customer communications and contacts
- design suitable campaigns.
