Customer Acquisition Path
Secure new clients and keep them loyal to you
The retail current setting is highly competitive in which the players compete in every stance for customer preference. This extreme competition pushes retailers to expand their focus on customer insight and knowledge creation processes.
Data on consumer behaviour is critical as a basis for retailers to adapt their assortments, prices and promotions to each customer in order to maximize their profit.
Business Driver
By assessing the profile and categories of consumption at the different stages of the customer lifecycle, an identification of the gateways for customer acquisition is conducted and initiatives to promote their loyalty to the brand are developed.
Data Needed
- Transaction data by day: Transaction ID, Customer ID, Location ID, Product key, quantity of items, net sales, etc
Deliverable
- List of categories that are gateways for new customers
- Identification of customer journey from their first purchase to maximum engagement
- Stabilization periods: factors and timings
Methods Used
- Time Series Model
- Regression Analysis (different variants)
- Artificial Neural Network
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InsightOut Analytics
InsightOut Analytics is a consulting firm for Data Science, Machine Learning & AI.
We develop complete business solutions which enable our clients to stay competitive in their industries by taking data-driven decisions.
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