The marketers discovered that customers who receive the smallest discounts (up to 5%) exhibit higher future value than both those receiving no discounts at all and even those receiving high discount levels (10%+).
An online cosmetics retailer identified ~5% as the brand’s optimal discount level to maximize spend and customer future value, while minimizing revenue cannibalization due to excessive discounting. A healthcare and wellbeing products retailer uses next-expected-purchase algorithms to automatically send replenishment reminder emails at exactly the right time – to tens of thousands of customers – something that has dramatically increased the re-order rate of these price-sensitive products. To get your creative juices flowing, here are some examples of how real businesses have used customer insight to improve their customer relationships: Detecting behavior patterns, trends and opportunities – combined with marketer creativity – can lead to an endless set of customer campaigns that maximize customer loyalty and spend. Then, you need to craft messaging and offers that perfectly match each customer’s unique affinities, timing and channel preferences.Īt a higher level, you need to leverage customer insight in order to build customer marketing strategies that will make your customers think twice about buying elsewhere, even in the face of aggressive advertising or lower prices from your competitors. Analyzing your customer data to find patterns requires leveraging advanced technologies (such as customer modeling, predictive analytics, machine learning and artificial intelligence) to anticipate their next steps, their wants and their needs. 
You need to have the right customer insight tools at your disposal. The rest is about using that data to understand your customers so well that every interaction with them demonstrates relevancy and emotional intelligence.
Using customer insight to build strong customer relationships begins by collecting and cleansing all the available data you have about your customers.
#INSIGHTS DEFINITION HOW TO#
How to treat every campaign like a marketing experimentĬustomer Insight Marketing Analysis, Strategy and Tools
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