Retailers worldwide are facing complex business and technological challenges associated with deploying CRM, trade, and marketing strategies at an ever-increasing rate. These challenges include:
1. Erosion of both customer loyalty and profit margins as a result of increasing competition and market volatility. In such an environment, a company’s success depends on its ability to identify and retain its best customers and increase its share of wallet by leveraging advanced analytical techniques to augment its targeted inbound and outbound marketing.
2. The increasing use of e-commerce as a main distribution channel forces retailers to collect more data regarding customers' preferences and to intelligently analyze it in order to offer customers what they most desire.
3. A need to find a single analytical environment that will gather all analytical solutions in targeted marketing procedures, be implemented easily in complex IT environments, and include advanced features such as real-time analytics and fully-automated analytical processes.
In order to face these challenges and others, retailers are looking for analytical solutions that will help them to better understand their customers' needs and desires and manage their advanced analytics more efficiently on one flexible, real-time analytical platform.
Xeligence Suite for Retail enables retail chains of all sizes to run automatic data-mining processes to helping marketing and trade divisions answer crucial business questions.
Xeligence Suite for Retail includes the following analytical software solutions:
Xeligence Personalized Promotion Optimization – enables the retailer to run hundreds of data-mining models automatically for:
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Preparing data-mining-based potential lists for all items sold by the chain (or items from a promotion pool) – boosts response rates for targeted campaigns from 3% to 10%-20%
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Recommending the Next Best promotion for each customer as a targeted direct mail set of discount coupons or an inbound targeted offering in each marketing channel
Xeligence Categories Attrition Prediction – enables the retailer to identify customers who are about to decrease purchases in specific categories for:
Xeligence Customers Value Segmentation – enables the retailer to segment its customers based on multi-dimensional RFM models (Recency, Frequency and Monetary value) in order to:
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Identify customers who produce more revenue than others and therefore deserve more marketing attention
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Build a “Customer Interaction Work Plan” to describe how many times the chain wants to communicate with customers in each segment in different contact channels for outbound marketing
Xeligence Optimal Workforce Allocation – enables the retailer to optimally plan workforce at each Point-of-Sale based on weekly forecasts of the number of customers who will visit the cashier, taking into consideration seasonality, holidays, and events, and recommending the desired number of staff members for every POS on every day and hour.
Xeligence Suite for Retail solutions are based on one joint data scheme – Xeligence Analytical Data Repository for Retail (ADRR). Xeligence ADRR provides the data elements required to support all relevant analytical software solutions in Xeligence Suite. While Xeligence ADRR provides proven "Best Practice", it is also adaptive to the specifications of each client.
Xeligence implementation is performed by mixed teams of implementers and business experts from GMARKETING, ensuring business benefits and ROI from the beginning of the implementation project.
To learn more about how Xeligence analytical solutions for Retail can support your initiatives, contact us.
