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Customer Data Analysis Fuels Behavior Segmentation That Delivers Increased Revenue
BOSTON, MA--(Marketwired - Mar 4, 2016) - Customer Portfolios ("CP"), LLC announced today that its proprietary customer data analysis methodology Portfolio Pathing™ is delivering customer insight that is driving increased revenue for its global retailer clients. Portfolio Pathing is an in-depth analysis of customer and purchase data that provides actionable insight on customer trends and behaviors. By uncovering distinct customer behaviors and purchase trends, retailers can leverage this information to cultivate more profitable customers.
The Portfolio Pathing analysis is comprised of two key areas of focus:
Lifecycle Phase - The Lifecycle Phase delivers the CP Customer Profile to enable retailers to better understand the behaviors of their customers, for example how many actual customers that have purchased vs number of prospects; the number of customers that have only purchased once vs 2+, the time between purchases, the time to lapse, the lifetime value of customers by the numbers of purchases they've made. Among the trends and behaviors that are looked at during the Lifecycle phase are customer value by gender and, acquisition and retention by season. These core metrics are the basis upon which opportunities for increase brand revenue and customer engagement are revealed in the Opportunity Phase.
Opportunity Phase - The Opportunity Phase provides a customer product purchase analysis to create a holistic view of customer purchasing behavior and delivers a "how-to" roadmap for increasing a customer's value through segmented and targeted 1:1 lifecycle campaigns (e.g. welcome, repurchase, engagement, reactivation, best customer/loyalty) across online and offline channels (e.g. e-mail, in-store, e-commerce/website, search, social, mobile/SMS). The Opportunity phase also offers strategic insight that addresses things such as future value creation and customer attrition risk.
"When a retailer has this level of understanding about the customer, they can go from 'I think' marketing to 'I know' marketing, which results in being more relevant, more effective and it generates significantly more incremental revenue," said Nick Godfrey, CMO, Customer Portfolios, LLC.
Retail bank unlocks value through customer data
HarborOne, a Massachusetts-based retail bank, has enlisted the analytical expertise of Customer Portfolios to help the bank identify and segment its customers to better target marketing campaigns.
"HarborOne is a growing bank within a competitive retail banking market here in New England," said Dave Tryder, senior vice president and chief marketing officer (CMO) of HarborOne. "We understand that a key to future growth is to provide our customers with a banking experience that makes them lifelong customers. To execute marketing against that understanding, we needed to better understand who are our customers."
"Customer Portfolios' Portfolio Pathing methodology promised to take the guesswork out of trying to understand which of our customers will be the most responsive to which of HarborOne's products," continued Tryder. "Portfolio Pathing delivered. Through our Portfolio Pathing analysis, HarborOne was able to segment customers based on their future value potential and identify opportunities within their lifecycle to increase retention, engagement and cross product adoption. That is precisely the insight that was delivered and upon which we executed our marketing campaigns throughout this past year."
A game changer
"When there is uncertainty about who the customer is, and when working with a limited marketing budget, it is a game of hit or miss and wasted marketing spend. This is the age old issue that every marketer has encountered," said Godfrey. "Portfolio Pathing tells you who your customer is, where you are today and equips you with the strategic plan to get to that point in the future of engaging, customer centric marketing, to ultimately increase the value of the customer. A game changer."
About Customer Portfolios. LLC
Customer Portfolios is focused on lifecycle marketing aimed at increasing customer value and generating revenue for its global retail clients. The Customer Portfolios Integrated Marketing Platform combines analysis, strategy, data and a team of expert marketing analysts to deliver actionable insight and campaigns that drive brand revenue, customer engagement and customer loyalty. Marketers from companies such as Johnston & Murphy, Journeys, HarborOne, Subway, Teleflora, Frye, Tourneau, and Zipcar consistently demonstrate revenue growth and increased customer lifetime value. Based in Boston, MA, Customer Portfolios, LLC is a privately held company. For more information visit Customer Portfolios online at www.customerportfolios.com.