By Gert H. N. Laursen
Professional counsel on info administration for max shopper intelligence approaches
Providing crucial counsel for info administration, this ebook is helping the fundamentals of data administration, find out how to layout and release buyer intelligence campaigns, and optimize current patron intelligence techniques. * the right way to align info administration with corporation approach * Examines the way to get, develop, and hold important shoppers * Discusses how you can optimize latest buyer intelligence techniques
Showing you the way to make huge use of information, statistical, and quantitative research, explanatory and predictive modeling, and fact-based administration to force selection making, company Analytics for purchaser Intelligence provide you with the instruments your online business must optimize you info pushed approaches.
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Extra info for Business Analytics for Sales and Marketing Managers: How to Compete in the Information Age
You should prepare properly for your first meetings and never promise more than you can deliver. The golden advice within all information management is: Think big, start small, and deliver quickly. We recommend that you at a minimum make a value-based segmentation or other analysis that can document your value from day 1 to your stakeholders and sponsors. Visions are good, but if you can deliver only on a long-term basis, your stakeholders will lose interest. In addition, you will lose touch and will never be able to implement customer analytics as a strategic asset since you will come nowhere near the strategy creation process.
The turnover-based line is on a subscription level and represents a larger number of observations than the black line, which is on a customer level, since customers can have many subscriptions and not the other way around. 6, an example from the telecommunication industry, shows that more than 40% of the customers changed value segments depending on whether we included the costs of serving the customer when making a value-based segmentation model. In other words, customers with high turnover often are not the profitable ones; thus, it is important to include costs in your value-based segmentation model.
In the example, Company A’s sales and marketing process are close to the best standards in the market. Company B, however, is not up to the same market standards. In this example, Company B suffers on two of the three dimensions: relatively high acquisition costs and relatively low customer earnings per month. From this example it seems as if Company B has some costly or poor sales processes, and it also has to look into how it handles additional sales to existing customers. Potentially the company also could be attracting low-end customers who never are going to give it a high monthly turnover.
Business Analytics for Sales and Marketing Managers: How to Compete in the Information Age by Gert H. N. Laursen