The key to good forward planning is knowing more about what the future can hold. While it’s impossible to predict every major event a business will face, some of the biggest unknowns can be removed via Profusion’s award-nominated Propensity models.
Through the power of data science we have created a range of Propensity models that can accurately predict customer attrition, lifetime value and conversions. Crucially, these models take into account a huge range of datasets and can work in real-time.
One of the best ways to maintain fast growth in your company is to retain customers, particularly those that have high lifetime value. Combining your marketing, customer and sales stats with certain external datasets and feeding this information into our Customer Attrition model, allows us to help you identify which of your customers are most at risk of churn. Your marketing and customer service can be tailored accordingly to reduce the chance of these customers leaving.
By combining your historical sales data, website engagement information and CRM stats with other datasets such as demographics, location and even weather, we can predict what your customers are going to buy from you.
The information is fed into our proprietary Lifetime Value model producing a series of predictions that can be segmented into the stats you find most useful. For example, identifying the acquisition channels or marketing campaigns that produce the most valuable customers.
All the information is displayed on tailored dashboards meaning that it can quickly be fed into your marketing solutions or customer service to make it much more effective. We also have a team of marketing specialists that can work with you to refine your business processes to maximise your conversions.
Data science can reveal which of your current and prospective customers are likely to buy your products. Our Propensity to Convert algorithm accurately reveals which profile of customer will buy each product. Not only does this help you to create marketing triggers which could help push them to buy, but it also means your customer service and wider marketing campaigns can be made highly targeted and efficient.
If these models don’t suit your needs, our team of data scientists and marketing specialists can work with you to develop Propensity models that look at specific issues, such as likelihood to unsubscribe from an email campaign or propensity to engage with a marketing initiative.
We also offer a full range of solutions that can help you action the insights that your Propensity model reveals. Talk to us now to find out more.