Introducing new customer grouping framework by specialist product types for targeted marketing
From an existing blanket approach to marketing to customers, we introduced to this national wholesaler a framework to segment customers by purchasing behaviour and drive targeted marketing for increased return on investment.
How did we help?
Our clustering analysis led to the means for targeted marketing campaigns to customers. We also identified “sleeping giants”; customers of low existing sales but who had a dramatically larger purchasing power, allowing targeting to acquire market share. We also demonstrated that the existing success metrics for new product performance could result in erroneous decision-making in some cases. We presented a new method of tracking customer retention for new product releases, adding an insightful success metric.
“I very much enjoyed the Ecovis team’s investigation, which was a refreshing insight into our operations. The project’s results introduced me to several possibilities for making use of our data capital and really got the cogs turning.
It was clear that we can use our internal data to dramatically enhance our marketing efforts to customers, for supporting our salespeople in identifying additional opportunity, and especially for planning and monitoring the success of new product development (a key differentiated for us).
Data, unarguably, now forms a key part of our strategy. I am looking to Ecovis’s unique analytics team to support us on this journey.”
Managing Director, Neville UK