DATA ANALYTICS
Sustainable Business
The key to a sustainable business is to build the returning customer base who are serviced rather than pitched to. To identify and nurture, analysis is required far beyond the capacity of accounting systems, advertising campaign data and standalone CRM’s. DA is crucial to ensure all data sources are utilized and converted to business building blocks to build customer return business.
A sustainable business will have a core of long-term customers who repeat buy from it. Otherwise, the number of potential customers is finite and the cost of constantly acquiring new customers is prohibitive. A business is sustainable when it has sufficient repeat business, that acquiring new customers is discretionary, and can be confined to replacing normal churn.
For businesses that have long term and short-term customers, the essential difference between those customers is the nature of the relationship the business develops with each of them i.e. long term customer (relational) vs short term customer (transactional).
Therefore, we concentrate on helping businesses to win customers and retain them for longer periods. We make this the overriding strategy, and then apply tactics to achieve it. Without an overriding strategy, all activity becomes tactical: it is ad hoc, disconnected or piece meal. Where there is a strategy, the tactics become focused, integrated and cohesive.