Compass Data

Description

The following cases illustrate some our experiences, service orientation, and client results. Please check back often as these are being updated frequently. Customer Retention Acquiring customers is one thing - keeping them another. See how one organization identified a retention problem under the surface of their results, and how they quickly realigned strategy to correct the course. Customer Data Management - Targeting Who are your best prospects? Can you identify and contact them for sales or marketing programs. See how one company enhanced their customer database to analyze purchase behaviour and target the top prospects. OLAP/BI Systems Information is the key input for decision makers - making information available to managers is a key development strategy for this marketing organization. See how a business intelligence system was rolled out to support quality decision making. Pricing/Margin Management Pricing and margin are key drivers of business performance in wholesale distribution. This case shows how in-depth analysis of pricing practices revealed a subtle, but key finding: inconsistencies in prices offered to customers. The result - significant margin improvements delivered through an organization-wide project to capture margin left 'on the table'. Market Benchmarking An organization wanted to identify corporations where their products were under-represented. By matching customers' purchases against top company rankings - FP500 and other specialized industry lists - large gaps were identified, and sales plans developed to address. Case Details CUSTOMER RETENTION return to top Background A medium-sized organization came into a patch of flattened growth. All of the levers in the sales process were analyzed and monitored in great detail, and the sales force were pushed into a high level of activity. However the initial results of this enhanced focus were disappointing and some frustration and fatigue were beginning to show. An alternative approach was sought. Analysis Borrowing from ideas learned in credit card and cellular telephone businesses, a customer retention/churn study was initiated. 'Churn' is the flipside of retention - i.e. customers who leave or cancel services. Data was studied and a methodology that suited the unique nature of the business was designed to measure the rate at which the company was keeping customers, and reveal the root causes of churn where high rates existed. Insight New customer numbers were healthy, but retention hadn't been tracked in detail. At the root of the flattened revenue was a spike in customer churn in specific geographies. The company prided itself on customer satisfaction, but customers had dropped off without being noticed. At root, employee turnover within the sales organization had resulted in lost relationships. All of the new business development work and expense wasn't converting to a valuable long-term relationship with customers. Direction The results provided direction for management to redesign the way the company interacted with customers to develop relationships with the company rather than individual sales representatives.

Products & services

Similar companies nearby