Customer Behavior Analysis
Reaching your customers with relevant and timely communications starts with understanding what your customers are doing, what they like or prefer, their interaction and transaction history, their business relationship tenure and their channel preferences (Web, phone, etc.).
Pinpoint’s services include three distinct approaches to performing analysis of customer behavior:
Customer Data Mining
By inspecting relationships among all of the data amassed on customers, data mining seeks to discover patterns of behavior – or indicators of such patterns – that can be used to formulate marketing programs or campaigns aimed at maximizing revenue per customer. Alternatively, it can be used to reduce the marketing spend on probable low-value customers.
Pinpoint ensures insights from data mining activities are made actionable by formally connecting the data mining process to the offer/message formulation and targeting processes. Without this connection, the value of the insight will remain unrealized.
Marketing & Customer Business intelligence
Marketing business intelligence provides reporting on a known customer pattern or profile, either on a periodic, ongoing basis or as a one-of or ad-hoc query. Business intelligence informs decision makers and knowledge workers of the latest developments in customer behavior and marketing effectiveness.
Pinpoint delivers personalized business intelligence via:
- Dashboards – continuously updated snapshots and trends of key performance indicators and other metrics of interest, delivered to the desktop of each decision maker
- Interactive business intelligence – the capability to conduct exploratory analysis of customer behavior by “slicing and dicing” aggregated customer data along various dimensions, such as time, product, channel, geography and demographics.
- Pattern Detection – automated detection of customer behavior patterns that indicate opportunities for special action, such as customers with high attrition risk or customers likely to respond to an up-sell or cross-sell offer.
- Traditional Reporting – generation and distribution of standard and ad hoc summary and detailed reports, using pre-specified filters and data aggregation dimensions, thereby providing decision makers at all levels with the information needed to manage the business.
Segmentation involves clustering customers by common characteristics – based on interaction and/or external psychographic or demographic data – so as to enable differentiated treatment of them by Sales, Marketing and Customer Service.
Pinpoint’s approach combines traditional customer segmentation metrics, such as purchase activity or assets under management (in financial services), with measures such as attrition risk and customer profitability to provide more fine-grained segmentation, thereby maximizing customer value.