LONDON--(BUSINESS WIRE)--A global data analytics and advisory firm, Quantzig, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest success story on how they helped a digital advertising agency to improve customer retention rates by 5%.
One of the most important metrics used in determining the long-term success of any business today is- ‘customer lifetime value’. Businesses generally measure their success ratio by looking into metrics such as sales, profit, and then compare them with their annual business output or with that of their competitors. Customer lifetime value models help gauge the total amount of money that a customer is likely to spend over his/her lifetime. As such, customer lifetime value modeling plays a pivotal role in making key decisions within the digital advertising space.
Are you finding it difficult to determine the factors leading to a dip in your customer retention rates? Get in touch with our experts to know how our customer lifetime value analytics solutions can help.
The client is a leading digital advertising agency based out of Europe. They have already helped various European brands with marketing and promotional activities. This agency was on a lookout for an effective modeling churn using customer lifetime value to balance out its business plan and neutralize the unavoidable cost factors that form an unavoidable part of a business. The client realized the importance of customer lifetime value model and decided to invest a fair share in it to gain a better insight into customer retention strategies. Devising a robust customer lifetime value modeling strategy helped them to increase their customer retention rates by 5%.
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“Though there is a myriad of ways using which one can calculate customer lifetime value the simplest ones involve three components – the purchase frequency, the customer lifetime length, and the average order value,” says a customer analytics expert from Quantzig.
Solution Offered and Value Delivered
To address the challenges that the digital advertising firm was facing, we put together a team of customer lifetime modeling experts who performed a detailed analysis of their existing customers. The solutions provided by Quantzig’s experts helped the client to understand its brand affinity and prioritize customers based on their importance from a business perspective. It also enabled the digital advertising agency to boost customer satisfaction, which resulted in a sharp increase in customer lifetime value and retention rates.
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Quantzig's customer lifetime value modeling solutions helped the client to:
- Improve customer retention rates by 5%
- Achieve a 60% increase in profit
- Quantzig’s customer lifetime value modeling solutions can be customized to help you tackle the growing challenges in the digital advertising sector. Request for more information on the benefits of deploying customer lifetime value models.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal