What’s the difference between a Customer Profile and a Customer Model? Can you predict the financial success of a marketing effort based on past customer behavior, for example, what campaign they responded to, what product they purchased, which channel they purchased from? Can Customer Marketing be optimized to maximize profits?
Absolutely. There are several relatively simple techniques you can use to accurately predict the ROI of customer campaigns based on past customer behavior. Which techniques are best for you depends on the type of business you are working and the objectives of the analysis.
And get this – none of this stuff is rocket science. You got a spreadsheet? Can you pull data? You’re good. Interested? Check out the series below.
Comparing the Potential Value of Customer Groups
Adding Customer LifeCycles to the Mix
8 Tips for Improving Customer-Focused Marketing Promotion ROI