Customer Intelligence platform is devised to help you develop a crystal-clear understanding of your customer. Customer Intelligence is about unearthing hidden insights about knowing the true needs of your customers and understanding consumer buying behaviour. The basic premise is why your customer is buying from you. At Veravizion, we concentrate our efforts in creating real value for our B2C customers by helping them see their real buying customers. You can create appropriate marketing strategies pointedly directed towards the target customer and optimize marketing costs in a big way. Every penny saved in marketing costs goes into your bottom-line giving you additional cash-flow.
How well do you know your customers?
It is frequently said in the context of business, that if you are not growing, you’re possibly dying!
A truly successful business is one that is consistently growing.
A growing and thriving business has two types of customers: repeat customers and new customers
- A repeat customer buys periodically, thanks to the loyalty programs, and drives profitability up
- A new customer buys in response to sales and marketing campaigns, and drives revenues up
In order for both, your loyalty programs, and sales and marketing campaigns to work, there is a necessary condition that must be satisfied.
The condition is so central to growing a business that sales and marketing strategies cannot be defined without it.
The condition is simple.
UNDERSTAND YOUR CUSTOMER!
No, not customers.
Understand your every individual customer!
Why is this important?
For your business, every customer may appear similar on the surface.
However, every customer, as an individual, is different.
Taking one broad action or applying one common strategy for all your customers will not render the desired results and will not help you meet your business growth objectives.
At the same time, taking separate action for each individual customer is not practically feasible.
To overcome this challenge, Veravizion has developed an integrated end-to-end customer intelligence platform.
Veravizion Customer Intelligence Platform
The platform implements a combination of mathematical methods, statistical techniques, and machine learning algorithms using latest data science principles to drive an end-to-end understanding about a customer.
The end-to-end here pertains to the end-to-end customer purchasing cycle: awareness, consideration, intent, purchase, and re-purchase.
Awareness:
From your business perspective, it is extremely important to identify the ‘profitable’ buying customers from the non-profitable ones in order to target the right customers during the awareness stage.
Veravizion customer intelligence platform enables you to separate wheat from chaff by prioritizing customer attributes important for your business. Specific actions can then be taken to acquire only profitable customers to increase your overall customer base.
Moreover, it is crucial to comprehend why your customers are buying from YOU (versus buying from your competitor or buying a substitute).
Customers’ reasons for buying something are almost invariably different from your reasons for selling it.
Therefore, it is essential that a business understands who the real buying customer is and why do they buy.
Consideration:
Once you have developed your target customer base, it is important to make correct product recommendations to them. (note: The ‘recommendation’ technique deployed by Amazon contributes 35% of their overall revenue; 75 percent of what viewers watch on Netflix come from product recommendations.)
The recommendation engine developed by Veravizion can help your customers make fast and easy purchase decisions. Additionally, this platform can improve your overall sales by recommending additional relevant products.
Intent:
Businesses spend more money in acquiring new customers as compared to servicing their existing customers. Many companies are clueless when it comes to knowing when their existing customers might churn.
Veravizion customer intelligence platform uses advanced statistical techniques and ML algorithms at individual customer level to predictif and when (s)he is likely to get churned. For example, by using this technique, you can predict whether an XYZ customer will stop buying your products after ‘mm’ months.
The algorithm can also compute the likelihood of your customer getting churned in near future. Furthermore, you can know the significant factors influencing the customers’ churn decision. You can take specific actions towards reducing the attrition based on these factors.
Purchase and Re-purchase:
Whether your customer is regularly (re)purchasing your product as a loyal customer or is getting churned as a dissatisfied customer, wouldn’t it be good to know their reason(s) behind this decision? Their experience with your brand or company will get captured in reviews and feedbacks that they provide offline and online.
Veravizion Customer Intelligence Platform can analyze their feedbacks and reviews (across various social media channels) to help you understand these reasons in a scientific manner. This technique will also tell you what customers are thinking about your brand, and your competitor’s brand.
Besides, you can know how happy your customers are towards your brand, if your customers are talking about some specific traits of your brand.
Wouldn’t you like to leverage the power of customer analytics using latest analytical technique to grow your business?