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Customer Value Modelling
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Techniques to help identify your most valuable customers
Throughout the customer lifecycle, decisions on which customers to target with which products can be based on their value. Many customer value schemes simply look at current revenue or profit, ignoring where future value may grow or decline.
Using customer value modelling enables you to refocus your marketing efforts on those customers, and prospects, that are considered more likely to be high value. By comparing potential customer value with current customer value for your existing customers, you can identify segments and define strategies for cross-sell and up-sell.
How does Customer Value Modelling work?
Customer value modelling estimates the current value and predicts your customers' potential value by using a range of statistical and analytical techniques and methodologies. Identifying the behavioural and descriptive characteristics typical of current high-value customers can lead to very specific, value creating, marketing strategies. This is predicated on assumptions regarding 'value'.
What else should I know?
As a user of this or other data products, particularly those that may involve use or disclosure of personal information, you would need to comply with the Privacy Act 1993 and other applicable data protection, privacy legislation and regulation.
Find out how your business can benefit from these sophisticated marketing tools
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