By analyzing internal and external data, Neal Analytics can help your business identify and target high value, loyal customers, allowing your companies to optimize marketing spend, improve customer satisfaction and retention, and increase overall spend per transaction. Through the CLV solution, we leverage advanced machine learning algorithms to segment customers and estimate their remaining lifetime, anticipated lifetime spend, and other key metrics useful for better understanding customers and allocating marketing resources. This strategic marketing benefit helps decrease customer attrition, increase purchases, and can even be used for targeted promotions or product recommendations.
Loyalty Max equips analytics teams with new dashboards to analyze and create more targeted initiatives focusing on the most profitable customers and those at risk of churning. Through this solution, marketing teams will be able to plan targeted promotion spend for customers within high value segments using tailored promotions and product suggestions. These results will be clearly displayed through Power BI reporting and/or other business apps to analyze results and provide insights on customer segmentation and behavior.
With Customer Lifetime Value, you have the opportunity to customize the solution to include further analysis on sales drivers and market baskets to gain more insight into your business. Customer personas or segments are analyzed and determined by building on your existing business logic and extending it with advanced feature engineering specific to your customers unique attributes. These CLV metrics can be integrated with additional Neal solutions for advanced recommendations, promotion design, and forecasting.
In order to get the maximum value from this solution, Neal Analytics will work with your IT and analytics teams to identify and acquire as much customer attribute and additional contextual data as possible from internal and 3rd party sources. We typically require at least 3 years of sales history, but could be more or less depending on how we identify churned customers. Additional requirements leverage Client Subject Matter Experts to assist with business logic, data mapping, and validity questions.