Personalized marketing strategy to reduce customer churn
Posted by | Fuld & Company
Enabling data-driven decisions for the marketing team using unsupervised machine learning and optimization
Challenge
A European beauty and wellness retailer wanted to reduce the high churn of ‘loyal customers’ using personalized marketing while creating a single source of truth for customer transactions.
Solution
We leveraged our data analytics capabilities to create a succesful solution for the retailer:
- A single source of truth was built by merging offline sales, online sales, and customer ID data into a single data source
- Customers where then segmented using optimization and unsupervised learning, and engagement paths identified for each of the segments to ensure highly targeted personalized strategies in future marketing campaigns
- As the final step, distinct personas were created for the marketing team for each of the respective segments
Impact
- The marketing team were able to develop personalized marketing content for each of their client segments
- The client saw a 5% increase in annual sales from its targeted marketing
Tags: Data analytics, Marketing Strategy, Strategic Planning
