So, what hinders repeat purchases and increasing CLV?
- Siloed customer data
- Siloed platforms
- Poor segmentation
Our enterprise-ready segmentation tool, ‘Find Your Best Customers’ enables Marketers and CRM Heads to identify the Best Customers for every business at the click of a button
Introducing FYBC (Find Your Best Customers): Empowering Enterprises with Smarter Segmentation for Precision Marketing
FYBC is a comprehensive, fully customizable enterprise solution that enables you to do these three powerful things:
- Build customer segments – demographic, behavioral & predictive
- Choose the right segments – deep dive into characteristics like loyalty, stickiness, purchase behavior, etc. Via RFM analysis, cohort analysis
- Run distinct campaigns for the segmented customers
This empowers retailers to identify their best customers. Some of the KPIs that can indicate high customer value include:
- Customer Lifetime Value
- Repeat Transactions
- Purchase Frequency
- Average Order Value
What makes FYBC Unique?
- Data-driven, Data-led Solution
- Predictive RFM-based segment
- Proven Playbook to Increase Revenue
- Ready KPI Dashboards
- Get Results in just 4 Weeks!
Features of FYBC:
- User-friendly interface
- No-code configuration
- No dependency on technical expertise
- Quick implementation in 3 weeks
- Automated data ingestion
- Visual reports for easy analysis
- Adherence to data security
- Easy customization
RFM Analysis constitutes a data-centric, behavior-oriented strategy for Customer Segmentation, employed to systematically assess and rank them based on the recency, frequency, and monetary value of their transactions. Through this method, one can effectively identify and prioritize the most valuable customers –
- Analyze each segment’s purchasing behavior
- Assign numerical values for recency, frequency, and monetary values
- Calculate RFM scores and append them to the corresponding segments
RFM Matrix of Customer Behavior Data
RFM analysis helps to identify customers who exhibit a higher likelihood of responding favorably to promotional efforts. To leverage this insight, promotional campaigns can be structured based on the brand’s mission i.e.
- Enticing customers to make a purchase
- Driving the frequency of purchase
- Driving AOV
Enticing Customers to Make a Purchase:
This can be accomplished by targeting ‘One & Done’, ‘Hibernating’ / ‘Win back’ and ‘About to Sleep’ segments.
The campaign objective here could be to increase customer Engagement, drive Repeat Purchases, Rebuild Brand Awareness & Perception, improve Customer Retention, gather Feedback or create Word-of mouth Referrals. One-time buyers could be offered attractive limited-period Seasonal & Clearance Sale Promotions to convert them into repeat buyers.
Driving Frequency of Purchase:
This can be accomplished by targeting ‘Good but Gone’, ‘Can’t Lose Them’ & ‘Never Sticky’ segments.
To rekindle connections and engage them, exclusive offers can be tailored, affirming such customers that their worth is recognized, and their preferences are acknowledged. To win back those who have drifted away, considering their unique preferences, past buying experiences and crafting personalized incentives can foster a deeper sense of loyalty.
Driving Average Order Value:
This mission can be accomplished by reaching out to the segments classified as ‘Loyalists’ and ‘Nurturers’.
Crafting marketing campaigns that ignite enthusiasm, spur conversions, and elevate the entire shopping journey for customers is paramount here. New Arrivals, Price Reduction, Restocked, and Wishlist campaigns can be designed to ensure customers remain not only well-informed but also thoroughly engaged with the brand’s latest updates and offerings.
The Comsense team has done a great job establishing a robust data stream pipeline. Their proficiency in segmenting and creating cohorts for diverse campaigns is truly commendable.Umesh RaiHead of Digital Marketing - Metropolis Healthcare
The Comsense Team have been a pleasure to work with, nothing is ever too much and together both our Teams have come up with solutions when challenges are faced. The team’s passion for data is evident in the insight and analysis shared. Having these insights is so important as it allows a business to make the right decisions based off the data provided.Broghan RossManager Digital Activations Ecommerce, CRM & Membership - Adidas SA