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 its latest success story that sheds light on how customer lifetime value modeling helped an e-retailer identify customer churning factors.
In today’s competitive marketspace, it is important for businesses to acquire new customers while prioritizing customer lifetime value. Customer lifetime value modeling has been a great issue for e-retailers, due to which the e-retail industry still continues to fall back on click-through rates and conversions. The growth of an e-retailer or any business is now measured in two ways, firstly by acquiring new customers and secondly by focusing on retaining the existing customers to increase their lifetime value.
Customer lifetime value modeling implementation finally leads to marketing that is completely customer centric. Request a free proposal to gain in-depth insights into our portfolio of customer lifetime value models.
The client collaborated with Quantzig to leverage its customer analytics solutions to develop a customer lifetime value model. A tremendous high customer churn rate accompanied by a stagnant customer acquisitions rate for more than six months prompted the e-retailer to take immediate action. The client was looking forward to developing a customer lifetime value modeling to replace their existing customer acquisition strategy. They wanted to replace their churn rate minimization strategy with a holistic framework that would focus on tackling the industry challenges as well. The e-retailer was also facing several challenges with calculating customer lifetime value, thus they were also failing to minimize and identify their customer churning factors.
Speak to our analytics experts to know how customer lifetime value modeling can help e-retailers to enhance customer satisfaction and reduce customer churning.
Solution Offered and Value Delivered
To tackle the existing challenges with customer acquisition model and other challenges the customer analytics experts at Quantzig experts adopted a comprehensive approach that helped this e-retailer to develop a holistic framework that mainly focused on customer retention and acquisition through developing a customer lifetime value model.
Are you thinking of deploying a data-driven customer acquisition strategy? Request a free demo to gain comprehensive insights into our customer analytics capabilities to enhance your acquisitions strategy.
Quantzig's customer lifetime value model helped the client to:
● Calculate the lifetime values of average customers
● Devise a robust customer segmentation strategy
● Identify potential customer churners
● Quantzig’s customer lifetime value models can be customized to help you tackle the growing challenges of the e-retail marketplace. Request for more information.
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