Leveraging Customer Data to Optimize Loyalty Programs
Loyalty campaigns have emerged as the leading channel for personalizing consumer engagements. Optimizing them to deliver highly relevant content is the next big step towards personalization maturity.
A retail leader with 1000+ stores was designing loyalty campaigns heuristically, in spite of the abundance of customer data generated by these campaigns. Mu Sigma is equipping them with a personalization decision engine to devise pre-campaign strategy and gauge success post-campaign.
THE MU SIGMA APPROACH
Mu Sigma is empowering this retailer with two crucial capabilities:
• Constantly iterative development cycle of planning and deploying campaigns
• A platform illustrating campaign performance in key KPIs
These answered many crucial questions to drive business decisions:
• Given a certain promotion, who is likely to visit the gas and retail chain?
• What is the opportunity to grow within the segment of the customers identified in part one?
• How does each campaign affect revenue?
• How to attribute consumer interests to specific parts of promotion?
This solution is already helping this retailer drastically decrease the complexity of decoding consumer data to estimate the efficiency of each campaign before it’s launched and evaluate it after it’s launched. This is an opportunity worth $13M lift in revenue per year.
Download the case study to know more.