Increase the effectiveness of sales and customer care with text analytics, focus on profitability and share of wallet.
Do your systems churn out millions or billions of data that lie idle? How do you work with them? Do you want to use them to increase your sales effectiveness, create client segments or reduce risk? In Adastra we know how to do that.
We combine business consultations and advanced analytics, underscored by data science and machine learning techniques. We successfully implement tasks such as:
- Customer potential analysis for the sale of products and services (next best action/next best offer);
- Customer behaviour analysis (on the web,mobile application, product use life cycle);
- Analysis of use of communication channels (omni-channel)
- Analysis of customer-company interactions (customer journey)
- Analysis of customer events and subsequent response by the company (context marketing)
We will mine your data from miscellaneous areas, we can also work with newly generated data. Thanks to big data platforms we can process big data, combine data from different sources and prepare a complex picture of your clients. We will also enrich your own records with available third-party data and will expand your data possibilities with big data processing tools.
Imagine that instead of hundreds of attributes, you will have a large set of predictors in the scope of thousands of columns. You will be able to describe each client from different viewpoints, to capture major changes in their behaviour, their needs and communication preferences. Our probabilistic models will recalculate the client score in case of any input data change. As a consequence, the effectiveness of your marketing activities may grow exponentially.
When can you use text analytics?
- To analyse the writer’s sentiment (product or service evaluation analysis, Net Promoter Score evaluation analysis, analysis of posts in discussion forums and on social networks, etc.)
- To categorize key information in text (classification of email messages to be processed by dedicated staff, categorization of financial payments based on descriptions, etc.)
We can categorize all transactions in detail. We search for never-thought-of contexts in data. The application of text analytics often results in new indicators, contributing to higher marketing or scoring effectiveness.
Increasing customer value
The ability to win and retain clients and to develop relationships with them is a key principle of successful growth. This can only be successfully achieved if you have an excellent knowledge of your client, from their risk rating and family situation to their product preferences and favourite communication channels. Based on those data we can determine the customer’s corresponding lifetime value and a strategy to enhance that value.
Do you know how to recognize if a client brings you profit, and how much? It may seem trivial at first sight, but the solution is quite complex in most situations. You can start with financial turnover and the amount of a discount. However, the detailed profitability of each product and customer differs because of different costs of acquisition, costs of communication with the client; you also have to count on product operation costs, operation of administration departments, etc. Partner with Adastra to perform complex tasks - we have experience from large as well as small banks.
Share of wallet
What if you know that your client has an account or uses other services from supplier? Try to estimate their potential and calculate your share of the customer’s wallet. You will therefore start working with a tailored strategy to increase the number of your products and services in the client’s overall wallet.
Would you like to get a solution customized to the needs of your company? Contact us today.
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