Growing Customer Value

Most companies have a good understanding of how much their customers currently spend with them, and many use RFM (recency/frequency/monetary value) analysis to plan their marketing communications.

However very few have a process in place for identifying customers who have the potential to spend more. Imagine if you could rank your customer base by how much more they could potentially spend with you. This would provide the foundation of a very smart up-sell strategy.

Datamine uses behavioural data sourced from a company's customer purchase history, combined with demographic data and meshblocking techniques, to identify customers who are fully engaged with that company's products at maximum or close to maximum spend levels. By using additional external data sources, Datamine is also able to estimate how much of your customers' spend you are losing to your competitors.

Profiles of particular customer types are generated, and predictive modelling is used to group similar customers together in order to identify those with a gap between their current and potential spend levels. By ranking customers according to the level of this gap, a finely targeted and highly cost-effective up-sell strategy can be devised.

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