analytics across the customer lifecycle
TRANSCRIPT
Analytics across the customer lifecycle
Nirmal Palaparthi 21 July 2015
Why is Analytics important?
• Latest buzzword?
• Provides jobs?
• Solves business problems
Customer lifecycle
• Acquisition
• Usage management
• X sell and Upsell
• Retention
• Advocacy
Acquisition Analytics• Start from prospects
• Goal: better ROI
• Same budget more conversions or
• Lower budget same conversions
• Solutions
• Response models, Conversion models, Funnel analytics
• Leading bank increases mailer response rate from 4% to 19%
Well…. data is kinda important!
Usage Analytics
• Different strokes for different folks
• Behavioral Segmentation
• Parameters for segmentation that reflect useful behaviour
• Watchout: Demographic segmentation is useful in product design, rarely in usage
Behavioral Segmentation
Credit Card portfolio segmentation construct
Behavioral Segmentation
X Sell and Upsell Analytics• right product to the right customer at the right time
using the right channel
• Selling to existing customers is far easier than selling to new customers
• Incoming channels make for better campaigns
• Examples: Bancassurance, beer and diapers
• Solutions: Market Basket Analysis, X-Sell modeling
Xsell and Upsell in actionProduct Details
Product DetailsXSell
Upsell
Retention Analytics
• Leaky funnel
• Different definitions of attrition
• NUNP, Dormancy, Inactive
• Early warning signals
• Example: Attrition models: Photo card
Churn Model in action
Advocacy Analytics
• Member get Member
• Reviews are powerful, even with strangers
• Solutions: Sentiment analysis, Social Listening
Sentiment Analysis has multiple benefits
Source: Slideshare: How Do Users Like This Feature? A Fine Grained Sentiment Analysis of App Reviews (RE2014 Paper)
uh… and one more thing…
Listening based reinvention
Questions?