How business can unlock value from its customer data.
Provides examples of customer acquisition, customer retention, using behavioural analysis, customer segmentation and mapping technologies
7. Have you ever felt like this? 50% of my ad budget is wasted, I just don’t know which 50% My business is a mess of silos of unconnected data I can’t get unique customer profiles If I need access to data for a marketing decision, I have to wait in line for an IT report I send the same direct mail to all of my customers External Data is never taken into consideration I have to use assumptions to drive my analysis I need to know that the right customers are available in the new market My factory sells products to major retailers, but I have no idea what they do with it I don’t understand what type of people my previous buyers were www.symphony3.com
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9. IT is seen as a cost but data represents untapped business value.
16. …… and thus generate dollars www.symphony3.com
17. Dollars (Attract– Retain – Grow Customers) Customer Communications Knowledge Data The Data to Dollars Model www.symphony3.com
18. Solution: The IT Solution Single Customer View Desktop Applications (All Desktops anywhere) Office Document Management Email Specific Business Applications Analysis Financial System Sales Tracking Product Servicing Warranty System Web Site Databases FINANCIAL DATABASE SALES DATABASE CUSTOMER DATABASE WARRANTY CLAIMS SERVICING INFORMATION CUSTOMER ENQUIRIES EXTERNAL DATA www.symphony3.com
19. The Typical Business Environment Dollars Retain Customers Acquire Customers Develop Customers Grow Retain Attract Customer Touches Web Site Call Centre Sales Force Service Centre Marketing -- Sales – Service to Repurchase – Upgrade -- Depart Knowledge Market Knowledge Customer Segment& Profiles Customer Behaviour Customer Relationship History Data Finance System Sales Leads External Industry Data www.symphony3.com
20. The Goal Dollars Higher - Leads, Conversion Rate, Average Sale Value, Margin, Transactions, Lifetime Value, Referrals Retain Customers Acquire Customers Develop Customers Grow Retain Attract Customer Touches Web Site Call Centre Sales Force Service Centre Give the customers that YOU want the experience that THEY demand Marketing -- Sales – Service to Repurchase – Upgrade -- Depart Knowledge Market Knowledge Customer Segment& Profiles Customer Behaviour Customer Relationship History Ensure the RELEVANT KNOWLEDGE is given to the RELEVANT PEOPLE in the organisation Data Finance System Sales Leads External Industry Data Transform your existing data into a single view of the customer www.symphony3.com
21. How it Works Dollars Strategic sales programmes designed and built around preferred customer buying process – time, place, opportunity! Retain Customers Acquire Customers Develop Customers Grow Retain Attract Customer Touches Customer insights provided on desktop viewer power superior decisions & effective customer communication Web Site Call Centre Sales Force Service Centre Marketing -- Sales – Service to Repurchase – Upgrade -- Depart Knowledge Market Knowledge Customer Segment& Profiles Customer Behaviour Customer Relationship History Delivery of customer insights in a Simple Desktop Viewer Analysis of unified database including external data Data Finance System Sales Leads External Industry Data Customer Database www.symphony3.com
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24. Demographic information was analysed to identify the number and location of ideal customers in the franchise area
25. This was compared with the number and location of ideal customers in other franchise areas
26. Analysis of this information provided compelling evidence as to the likely turnover of a franchise in the chosen franchise area
27. Further analysis of the data, using models such as 8 and 10 minute drive time analysis, identified the most appropriate location for the franchise in the franchise area The Result The funding agency minimised its lending risk, the franchisee received the funding and opened the franchise. The franchisee chose the most attractive store location based on the findings of the report and was able to maximise its marketing spend by limiting mail drops to households who fitted the ideal customer profile www.symphony3.com
35. Provided a simple search screen for the new database to find where the same or related clients and their contacts exist in the various existing databases.
36. Used the results to clean/correct the existing poor data entry practices. (i.e. addresses of “As above”)
37. Mapped the household locations of the whole community against external data like Census to segment and understand the client base and growth potential
38. Used this to more effectively communicate with existing and potential clients/donors.www.symphony3.com
49. By comparing RFM analysis outcomes and running test communication pieces it is possible to make communication highly effective and relevant to the customer by both understanding what type of person they are and where they are in their spending cycle
51. The results used to analyse the profitability of each of 200 houses across Victoria
52. The spend compared to total sector spend per 200 houses to allow competitor analysis and better understand market penetration
53. The profit per communication piece per 200 houses was calculated to fine tune general mail drops and growth areas for NEW customerswww.symphony3.com
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55. Many of the larger stores hold no stock and make few sales, but smaller stores of the same brand have high stock/high sales levels
56. The only information the company has is through the receipts in their financial system
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58. No understanding of the market penetration in different geographical areas and thus the potential to grow the market
59. No way of knowing how many potential smaller retailers might sell the product
60. No sales forecasts to give new potential market channelswww.symphony3.com
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62. External data obtained to show the total spend on renovations and new houses in each area
63. A market share was calculated for each major part of Australia
74. No understanding of the sales potential in different geographical areaswww.symphony3.com
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76. The buyers and visitors database was mapped to understand where they come from
77. The database was segmented into different household profiles and compared to the general population. One of the identified segments was the “Dreamers”
78. Sophisticated modeling software was used to rank each group of 200 houses across Sydney from 1 to 10 by their likelihood to visit a display home
102. Rapid prototyping checks all data, standards and organisational issues that may affect the project, as well as the very early demonstration of results
103. The system can subsequently operate as a bureau service or as an in-house systemwww.symphony3.com