How Quantzig’s Customer Lifetime Value Model Helped an Etailer Improve Customer Retention by 10% - Request a FREE Proposal!
LONDON--(BUSINESS WIRE)--Feb 18, 2019--A global data analytics and advisory firm, Quantzig, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest . During the course of this engagement, the customer analytics experts at Quantzig helped the e-tailer build a holistic framework to tackle the challenges related to customer churn and customer lifetime value prediction.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190218005317/en/
Examination of Customer Lifetime Value as a Key Marketing Metric in the E-commerce Segment (Graphic: Business Wire)
While customer lifetime value has been the focus of discussion in the retail circle for some time now, successful implementation of a customer lifetime value model has always been a challenge. As such, customer retention has often become the de facto strategy for retailers all over the globe. However, as technology continues to evolve and data becomes ever-more insightful and accessible, measuring the value of the customer has become an increasing priority for both retailers and marketers alike.
The Business Problem : The client is a leading player in the US ecommerce sector, specializing in the fashion retail segment. A stagnant customer acquisition rate coupled with high customer churn rate for a period of six months prompted the retailer to take immediate action. Hence, they approached Quantzig to leverage its customer analytics expertise to develop a customer lifetime value model. They were looking at replacing their existing customer acquisition and customer churn minimization strategy with a holistic framework to tackle their key challenges.
Our expertise in the delivery of customer analytics solutions at various scales will help you gain clear insights into a customer’s lifetime value. to know how our customer lifetime value solutions can help.
“Customer data is a crucial equalizer when it comes to gaining an upper hand in the battle for consumers’ share of time, attention, and wallet and its application to successful customer lifetime value implementation is crucial,” says a customer analytics expert from Quantzig.
The Solution Offered : To help the client tackle the core challenges the customer analytics experts at Quantzig adopted a comprehensive approach that helped deliver a holistic framework aimed at customer retention and acquisition. The customer lifetime value model helped the client to improve the retention rate of potential churn customer segments by over 10%.
So why isn’t customer lifetime value an industry standard? Why is it not at the heart of every marketing department across industries? The intent and recognition of its significance clearly exist but something seems to be holding it back. to know how our customer lifetime value solutions can help you gain a leading edge in the competitive retail market.
Quantzig’s customer lifetime value solutions helped the client to :Improve the retention rate of potential churn customer segments by over 10% Categorize customer datasets to draw better conclusions to know how you can apply these methodologies to address your business requirements.
Quantzig’s customer lifetime value solutions offered predictive insights on :Improving the customer retention rate with the help of better strategies Identifying new cross-selling and up-selling opportunities. Wondering how customer lifetime value prediction could open-up a world of new opportunities for your organization?
is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit:
View source version on businesswire.com:https://www.businesswire.com/news/home/20190218005317/en/
US: +1 630 538 7144
UK: +44 208 629 1455
INDUSTRY KEYWORD: ONLINE RETAIL RETAIL
Copyright Business Wire 2019.
PUB: 02/18/2019 11:45 AM/DISC: 02/18/2019 11:45 AM