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Financial Services


Background Background
Client acquisition efforts were successful, but business product lines were unprofitable due to inordinately high attrition rates.

Client was unable to successfully convert trial customers into pay-for-fee customers.

Client had made investment in appending customer records with demographic data. Data were available only to a select number of analysts with SAS licenses.

Requirements for reporting necessitated well defined specifications, and a report request with a 2 week lead time.

Solution Solution
  • Comprehensive customer bases analysis through mining available data sources.
     
  • Comparative analysis of active customer base with churned customer base to identify and predict customer churn behavior.


 

  • Data were exported to thinkSmart's secure Marketing Data mart.
     
  • Data were processed and an online cube created.
     
  • Data were exposed to business users in a secure online environment (SMART site).
     
  • Data access was designed to be intuitive and user-friendly.
     
  • Cube design allowed for granular mining of data allowing business users to test hypotheses, and share reporting discussions in a team environment.
Results Results
  • Findings identified multiple customer behavior predictors enabling client to develop pro-active customer service activities designed to reduce churn.
     
  • Findings allowed customer to make data driven business decisions.
     
  • Client enacted a customer training program to address short-term customer churn.
  • Business users can build reports on the fly. Business users can hypothesize with no need for prior reporting specifications.
     
  • 24/7 Access to most current data with no lead time required. Hypothesis testing occurs in real time, yielding greater insight into demographic makeup of customer base
     
  • Business users are able to make better informed data driven decisions.