| Once you have identified and cleaned your data, the next step is to analyze that information to better understand the traits and personalities of your customers and prospects. This will help determine the right target audience for your direct marketing campaigns and how you can draw a successful response. Below is a list of services that we provide to help you analyze your customer and prospect data. |
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| Customer Profiling |
| • | Customer profiling helps companies to identify the characteristics of their customers. Research has shown that people who have similar characteristics typically exhibit similar behaviors. |
| • | The goal of customer profiling is to identify common and/or unique demographic, psycho-graphic, and geographic traits. |
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| Market Penetration Analysis |
| • | Market penetration analysis helps companies to better understand and therefore, capitalize on potential unknown marketplace opportunities. |
| • | The goal of market penetration analysis is to identify the client's marketplace - the total universe of customers and prospects. |
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| RFM and LTV Analysis |
| • | LTV (life-time value) analysis measures the net worth of a customer based upon the total profit made from the first sale to the most recent sale. |
| • | RFM (recency, frequency, monetary) analysis does the same as LTV but also takes into consideration date of the most recent purchase and how often a purchase is made. |
| • | The goals of LTV and RFM are to:
- Determine customer spending rates and patterns
- Determine amount of marketing dollars it takes to generate a sale
- Rank customers by how much and/or how often they spend |
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| Mapping |
| • | Mapping is the process of identifying where customers and clusters of customers reside. |
| • | The goals of mapping are to:
- Find geographical concentrations of customers
- Find new geographical markets
- Get a snap shot of what customers look like in certain geographical
areas based upon demographics |
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| Data Segmentation, Mining, and Scoring |
| • | Identify and segment data into groups by common interest, characteristic, targeted program, or other important variable |
| • | Uncover useful marketing intelligence through data mining |
| • | Assign a score/value to each record in a database based upon key factors such as interests, characteristics, or past purchase behavior |
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| Market Research and Surveys |
| • | Conduct market research to further understand your customer base and determine if your products or services will flourish in your targeted markets. |
| • | Design and conduct customer surveys to better understand the needs, wants, and interests of your customers and prospects. |
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