Cormo Loyalty Models
Your most profitable customers are repeat customers. It takes lot more to acquire new customers than retaining current ones. In a time when switching costs is almost non existent, your strategy would be to understand who your end customers are, what they like & dislike, what are the value touch points, buying behaviors, past activities etc.
Using proprietary modeling technology, we model customers based on their past activities, shopping patterns, demographic & behavior patterns etc over thousands of data points using high speed computing platform. Model predicts present & future value or profitability for each customer along with their likely response to various offers.
Model represents answers to questions like
- Who do I give offers to?
- How customers respond to different offers at different times?
- Which customers can I promote more than others ?
- How much incentive should I provide to get customers do what you want them to do?
- Is customer a steady customer or is he/she increasing or decreasing relationship with you?
- Can I classify customers based on return on incremental promotion expense & target each customer than current mass promotions.
- Can I know when I start losing a customer & what can I do about it?
