Hi-Tech
In the Business Integration and Software Solutions industry, customer volume doesn't necessarily equal profit. Our client suspected that to be the case, but didn't have the resources to analyze its customer transactions to identify its best customers and prospects and how to easily acquire new customers and increase the customer base through cross-selling and up-selling.
Using our statistical software tools, we set out to blend the client's customer transaction data with readily available databases such as Dunn and Bradstreet, and Harte-Hanks. The result was a comprehensive view of each customer that showed specific opportunities for selling each of the client's software and service brands.
Ultimately, the task of identifying, nurturing and growing the client's most profitable customers was achieved using a proprietary customized statistical solution developed and supported by Modern Analytics, that provided results within days.
By segmenting the results in a two dimensional matrix (Revenue by Propensity to Purchase) the client can determine its most valuable customers and execute specifically targeted marketing campaigns.
The client reprioritized its marketing strategy and as a result and significantly improved its customer acquisition and revenues.
