Tag: customer retention rate

Customer segmentation analysis

Unearth New Opportunities and Drive Profits with Customer Segmentation Analysis

With the proliferating marketing platforms today, customer segmentation analysis has become a pre-requisite for businesses to boost sales, reduce attrition, and improve prospect and customer experience. Also, around 70% of CMOs agree that customer segmentation analysis is extremely valuable in providing a great customer experience.

By segmenting customers into various groups that share similar needs, organizations can devise personalized marketing strategies for each group differently and focus on all customer needs at any given time, making marketing and customer care more organized and targeted.

Infiniti’s customer segmentation analysis solutions have helped several Fortune 500 companies devise customized approaches that satisfy the needs of different customer groups and drive customer loyalty and profitability.

Below, we have summarized some of Infiniti’s success stories that highlight how customer segmentation analysis has helped companies to gain a leading edge in today’s competitive marketplace.

Elevating Sales by 17% for a German Retailer with Customer Segmentation Analysis

With a multitude of choices available for customers in the retail industry, developing a robust marketing strategy to target specific customer segments is becoming important in the retail industry. Don’t you agree? This success story is an excellent example of this. A retail company was finding it difficult to segregate the customers in terms of need-based and value-based segments in the German market. Also, they faced issues in managing attrition rate and acquiring new customers. They were looking for a market research firm to help them in segmenting customers based on their value for the brand.

Infiniti’s market intelligence experts helped the client to devise a sound commercialization strategy to effectively engage customers and enhance customer retention. Also, our retail customer segmentation analysis engagement helped the client to elevate sales rate by 17% within a year.

A Leading Fashion Brand Curtailed Losses and Increased Revenues by 20% with Customer Segmentation Analysis

Worldwide e-commerce growth is on the rise, and it has placed immense pressure on fashion retailers to differentiate themselves and provide superior shopping experiences in-store. However, to devise personalized marketing approaches, businesses require a thorough understanding of their customers and their needs. This is where the real benefit of leveraging customer segmentation analysis comes into play.

Customer segmentation analysis can help in dealing with such issues efficiently. This is clearly evident in this success story where the client, a fashion retailer, was facing similar predicaments. The company also encountered a substantial reduction in the number of frequent and repeat buyers.

Infiniti’s customer segmentation analysis solutions helped them to develop a well-aligned business plan to deliver sustained growth and empowered them to break through the cluttered market space with a unique and convincing proposition. Moreover, they were able to improve their wallet share and increase their overall revenue by 20%.

Enhancing Customer Retention Rate by 20% with Customer Segmentation Analysis

In the increasingly fast-paced banking industry, companies need to constantly evaluate the market and expand their offerings. Also, there is immense pressure to improve profitability and customer experience while adapting to the disruption caused by rising FinTech companies.

Our client, a banking company based out of the United States was facing the same dilemma. As such, they were looking for a research firm that could do an independent analysis of potential investment opportunities and provide detailed insights into their customers. Additionally, they wanted to segregate their customers based on their geography, psychography, and behaviors into separate groups and devise customized marketing approaches to gain maximum traction.

Our experts adopted a comprehensive three-phased approach to help the client develop a new customer segmentation approach and predict the future value of customers for the brand. Also, Infiniti’s solution helped the client to analyze the key drivers of customer satisfaction and devise suitable strategies to counter the decline in sales. In addition, they were able to enhance customer retention rate by 20%.

Retaining the Most Lucrative Customer Segments with Customer Segmentation Analysis Approach

Identify and implementing appropriate customer segmentation strategy models to profile and retain valuable customers seems to be challenging for businesses. This is where a custom market research service provider like Infiniti Research can make your work easier, as it did for a transportation services provider. The company wanted to devise a value-based approach to define their best prospects in the market. Moreover, they wanted to profile and target lucrative customer segments and avoid bottlenecks pertaining to the delivery of products.

With Infiniti’s customer segmentation analysis solution, they were able to profile customers into various segments and tailor marketing efforts for them. Furthermore, our customer segmentation analysis approach helped the client to devise a value-based approach to retain the most profitable customers.

Customer needs assessment

Reducing Customer Churn Rate by 37% for a Retail Company | Customer Needs Assessment Solution

Customer Needs Assessment for a Retailer

The European retail industry is growing exponentially and presents huge opportunities for retail companies around the globe. Despite this steady growth, rising need for convenience and rapidly changing market realities are making it vital for retailers to understand customer needs and analyze their buying patterns. Also, the increasing market volatility necessitates companies operating in the retail industry to have an agile operating model that keeps pace with evolving customer needs and demands. This is where retail companies realize the benefits of leveraging customer needs assessment.

Customer needs assessment solutions can help you keep pace with your customers’ needs and requirements. Request a FREE proposal today!

Business Challenge

The client is a retail company based out of Europe.

The company launched a new product in the market. But the product failed to gain traction as it did not meet customers’ needs and demands. Due to this, the company started losing ground to its competitors. Also, the company witnessed a decline in their sales and noted an increase in the customer churn rate. They approached the experts at Infiniti Research to leverage their expertise in offering customer needs assessment.

By leveraging Infiniti’s expertise in offering customer needs assessment, they also wanted to:

  • Identify their customers’ unmet needs, purchase behaviors, and spending habits
  • Better understand product features that would drive consumer purchase and satisfaction
  • Assess customers’ perception of their current offerings and the strength of competing brands
  • Better meet customers’ demand and sustain their market position
  • Develop a standardized set of processes and competitive benchmarking metrics

Are you facing difficulties in tracking your customers' needs and demands? If yes, contact us to know how our customer needs assessment solution can help you analyze your customers’ needs and win back lost customers.

Solutions Offered

The initial step of the customer needs assessment involved customer segmentation analysis. In this phase of the customer needs assessment engagement, the experts helped the client to segment their customers based on their need and demands. Furthermore, factors such as customers’ buying behaviour, spending patterns, and value for the brand were taken into consideration during the segmentation approach.

The next phase of the customer needs assessment engagement involved customer satisfaction analysis, where the experts helped the client to identify factors that drive product purchase and the satisfaction level of customers regarding their products and services.

Infiniti’s customer needs assessment engagement even involved a win-loss assessment. In this phase of the customer needs assessment solution, the experts helped the client to understand factors that drive their customers to competitors.

 Also, the experts compared the client’s products to the top retail companies in Europe. The factors such as product features and price were taken into consideration. This phase of the customer needs assessment engagement helped the client to develop a standardized set of processes and competitive benchmarking metrics.

Lastly, the experts conducted a brand health assessment, where they analyzed customers’ perception of the client’s current offerings and helped the client to understand their brand strength and areas of improvement. Also, customer value analysis was conducted to evaluate customers’ value for the brand.

Results Obtained

The insights obtained from Infiniti’s customer needs assessment solution helped the client to understand their customers’ unmet needs and demands. Also, they were able to understand product features that drive product purchase.

Infiniti’s customer needs analysis solution further helped the company to enhance their brand awareness and drive more sales. Within one year, they were able to reduce customer churn rate by 37%.

customer needs assessment

Want to know how our customer needs analysis can help you efficiently engage with your target customers and enhance the customer retention rate? Request for more info!

Customer retention analysis

Customer Retention Analysis to Increase Customer Retention Rate by 27% for a Retail Company

Customer Retention Analysis for the Retail Industry

The Canadian retail industry is undergoing massive transformations. The days of simply acquiring new customers to multiply the size of business are gone. Today, the only way to grow profitably is to drive more revenue from the existing customer base. In this context, leveraging customer retention strategies can help businesses to effectively gauge customer value over a certain period and ensure adequate amount of marketing investments toward profitable customers.

Our customer retention analysis can help you identify ways to win back customers and drive maximum sales through personalized offerings. Request a FREE proposal!

Business Challenge

The client is a Canadian retail company. The client witnessed a huge dip in their sales rate over three consequent years. The client’s failure to monitor their customers’ past purchase data and identify their likelihood to remain engaged with the brand was a major roadblock that prevented them from retaining valuable customers. Consequently, the client started losing customers to their competitors, which subsequently increased the customer churn rate.

The client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering customer retention analysis. By leveraging Infiniti’s customer retention analysis, the client wanted to:

Drive long-term profits – To enhance their sales rate, the company invested heavily in acquiring new customers. However, this proved to be costly for the company. With Infiniti’s customer retention analysis, the client wanted to analyze past purchasing behavior of their customers and evaluate their net value for the company.

Devise promotional strategies – As the client’s previous marketing and sales strategies failed due to their inability to devise targeted promotional plans, they did not wish to take a chance. With Infiniti’s customer retention analysis, they wanted to efficiently segment their customer base and prioritize them based on their value. Furthermore, the client wanted to devise targeted promotional and sales campaigns and win back customers.

Devise value maximization strategies – With Infiniti’s customer retention analysis, they wanted to improve customer retention and acquisition strategies by understanding key factors considered by customers in the selection of the brand. Also, the client wanted to understand customers’ primary reasons for switching to a competitive brand and analyze the current satisfaction levels of their customers.

With over 15 years of experience in serving companies across the globe, we can guide you in developing personalized strategies to retain your high-value customers. Contact us to leverage our customer retention analysis.

Solutions Offered

The experts at Infiniti Research conducted a detailed retail market analysis as part of the customer retention analysis. This phase of the customer retention analysis helped the client to understand transformations and development in the market and their impact on retail companies’ sales. Also, the experts evaluated the potential demand for their products in Canada over the next five years.

The customer retention analysis also involved a customer segmentation analysis. This phase of the customer retention analysis helped the client to segment their customers based on their needs and preferences. Also, the experts prioritized customers depending on how they engaged with the brand.

As a part of the customer retention analysis, the experts also conducted a customer satisfaction survey. This phase of the customer retention program helped the client to understand the reasons for customers switching to other brands and also their demands regarding retail products.

The customer retention program further involved a competitive intelligence study, which helped the client to understand their strengths and weaknesses compared to the top retail companies in Canada. This further helped the client to monitor strategies undertaken by their competitors to retain valuable customers.

Results Obtained

By leveraging Infiniti’s customer retention analysis, the client was able to analyze their customers’ past purchase behaviors and evaluate their value for the brand. Also, the client was able to devise targeted sales and marketing initiatives for their valuable customer segments. Furthermore, customer segmentation approach helped the client to target each group separately and drive maximum sales.

With Infiniti’s customer retention analysis, the client was able to efficiently invest their capital and resources towards profitable customers. Furthermore, a better understanding of customer needs helped the client in improving customer loyalty. Also, the company was able to win back their valuable customers and reduce the customer churn rate. As a result, the company was able to enhance customer retention rate by 27%.

Customer Lifetime Value

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