3 case studies that show how leveraging customer data can maximize marketing efficiencies

At a special event on Monday night for Innovation Mission attendees hosted by Blue Venn, individuals learned about utilizing customer data to address business problems.

Here’s a look at three business problems that Blue Venn outlined and how customer data could help solve them.

Data Analytics & Modeling

• Business Problem

Gain better insight into growing customer base

• Action

Conducted analysis and modeling on propensity to buy among different consumer segments
Enhanced customer records using third party sociodemographic data
Profiled most profitable customers and identified prospects for acquisition with similar characteristics and profiles

• Outcome

Enhanced segment granularity (increased segments for targeting from 20 to 80) leading to more cost effective outreach
Discovered trends in product growth and differences in purchase patterns across segments
Increased new customer acquisition rates and customer retention

Journey Orchestration & Campaign Execution

• Business Problem

Improve marketing productivity across many regional papers, websites, and properties

• Action

Created comprehensive segmentation for each newspaper market
Drove all multichannel marketing campaigns through this segmentation model
Constructed customer lifecycle curriculums to manage the customer journey
Automated campaign triggers and communications for start verifications, easy pay upgrades, renewal notifications, etc

• Outcome

46% improvement in subscriber retention – annual savings of over $1 million
Increased revenue per subscriber by 8.4%
Reduced discount investment by 30%

Performance Benchmarks & Reporting

• Business Problem:

Report on key metrics that drive the business (cost per acquisition, retention rates, spend per customer, LTV and orders per customer, average selling price, items per order) to influence marketing strategy

• Action

Brought marketing data into unified database across channels
Managed campaign and segmentation activities using full customer history

• Outcome

Added 45k high-value customers to marketing file that were previously being dismissed
Reduced campaign concept to action time from weeks to under 24 hours
Leverage attribution model to make more informed decisions about where acquisition spend should go