Using Big Data to Boost Customer Retention

Using Big Data to Boost Customer Retention

Articles
The increasing importance of Big Data is spearheaded by the need for firms to know as much as they possibly can about current and potential customers so that they can have the highest possible chances of regularly retaining customers. Customer retention is a highly important part of business success regardless of one’s industry. The term “Big Data” refers to enormous quantities of data on any imaginable subject. In relation to marketing, Big Data could refer to statistics on customer shopping and purchasing habits. Nowadays, Big Data that’s pertinent to an ambitious marketer could detail a wide variety of different factors, including where a customer is buying, how a customer is buying, when a customer is buying, where a customer is buying, and what kind of platform is being used when…
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Moneymaking Customer Segmentation Tips

Articles, segmentation, strategy
Moneymaking customer segmentation requires treating different segments differently. If different segments are treated the same, what is the point of having different segment Knowing why and how to treat each customer segment requires understanding of the potential in marketing data. The most precious data for marketers is hidden in their own databases. The dilemma is that marketers may not know how to look at their own data to release the potential that will help them communicate more effectively with their customers and prospects. Finding the right segmentation is half the challenge. The other half is knowing how to use them to improve profitability. Here are 11 of the most valuable tips to improve customer segmentation to increase profitability. All of them won't apply to any one company; but some of them…
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