Customer data & Loyalty & Pricing
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Do I go left or right? What is the most profitable path forward? Our growth consultants can tackle these key c-level questions with the help of data. For more than 10 years we have helped clients with 3 strategic questions:
1. Customer data: How do I leverage my customer data to extract tangible value? How do I monetise this most underutilized asset? We combine our traditional CRM as well as extensive e-commerce experience to turn raw customer data into practical and implementable use-cases with concrete calculated revenue impact.
2. Loyalty: How do I enhance customer loyalty? How do I design a world class loyalty programme? For more than 10 years we created loyalty strategies that last for a long time receiving international awards along the away
3.Pricing: How should I design and manage my prices successfully? How can I adjust my pricing to achieve targets? How do I profitably manage price promotions?
Turn raw data into money making use-cases.
Raw data is of no use. We look at your data, your existing customer engagement use case and we merge it with our CRM and technical experience. The results are practical money-making use cases with a clear path to implementation and a calculated business case. A true database monetization strategy.
Signet Jewelers asked us to study their data and evaluate their current customer engagement use case. After careful data analysis we found at least 10 paths for different customer segments to increase both acquisition and loyalty. One of these was mostly male website visitors looking to buy engagement rings. We proposed concrete ways to ensure that these visitors purchase from Signet Jewelers and not competition with calculated possible impact on revenue.
Sofology asked us to study the customer journey. Not only did we document the detailed map of customer behavior we also found concrete ways to increase revenue. Example being all the customers visiting the website. Our goal together with clients is to engage them beyond the first visit and ensure that initial website visit leads to store visit or immediate purchase on the web. As always we calculated the possible impact on revenue.
For Brewdog we again studied the data and proposed concrete ways to use the data to provide customers with much more personalized and relevant customer experience. Inviting people to their favorite Brewdog bars, for their favorite beer at the right time. We also calculated the critical time for customers to repeat the purchase. In any business and especially in FMCG there is a critical time to repeat purchases. If a customer does not repeat the purchase until this specific time point the likelihood of repeat purchase rapidly decreases. Brewdog can use this insight to align promotion and loyalty activities to keep customers active.
Voxwise proven 5-step method
Our secret sauce of growth:
“Motivate customers through laser focused loyalty scheme to high-value behaviour.”
In times of crises, loyal customers become your true lifeline. Disrupting market conditions, customers getting more value-conscious is the situation where you wish to have a strong and effective tool to retail your customers. In Voxwise we have been helping our clients to design and run loyalty initiatives for more than 10 years.
Our experience covers various industries from leisure, through retail and ecommerce to services.
Why is customer loyalty so important?
Retention saves money
Every new customer costs a lot of money. You can simply increase profit by reducing churn.
Own media channel
Permission marketing is far the most effective way of communication.
Great loyalty scheme is the best tool to keep customers engaged for a long time.
Increase your revenue by 10-15% without increasing costs.
Price is out all the profit drivers the strongest one. Compared to other revenue-increasing activities, a price change can be implemented quickly at low cost and with a fast return.
Smart and effective pricing has for many years been a practice of far more market participants than just of the leaders at the very top. It became a must-have for any company that wants to be serious about long-term sustainability of its business – especially during less favourable business cycle times.
We in Voxwise guide companies of various sizes and from different industries on their pricing sophistication journeys. We help them monetize created value by maximizing their revenue and margin.
Most popular deliveries
1. Price-list & pricing page (re)design
Designing a new price-list and / or pricing page for a running business or a start up.
2. Price promotion optimisation
Indentify ineffective price promotions and suggesting how to transform them in to effective ones.
3. Revenue managment roadmap
Defining a custom, multi-generation list of tasks and components – both organisational and technological – that enable a company to start safely managing its prices intelligently on a large scale and continuous basis.
Simplified project approach
“The functioning of Denník N depends mainly on the income from subscribers and therefore we need to understand their needs and preferences. We were preparing new services and we needed to help with their effective pricing. Voxwise helped us to build a simple and effective subscription offer and also test it without negative impact on the brand. The result of cooperation with Voxwise is at the highest level of our expectations.”
“Despite the fact Voxwise is a small company, they were able to overcome our cautious approach to them and performed with excellent result. They fulfilled all what was promised and mapped all price points even if access to our data is not always easy. Several rounds of ideas distillation showed that Voxwise have expertize in both business and technical leakages. All above mentioned resulted in agreed net revenue increase, keeping the same price image, which exceeds our expectations.”
“Over the last 15 years, many of our nonsense, ballast and archaisms have accumulated in our price lists. We’ve been putting off cleaning up the menu for so long, until we’re in a state that we didn’t even know where to start. We turned to Voxwise, who led us through the process of unraveling, analyzing, setting up, planning, and communicating. It was very beneficial to look at our daily realities with their fresh look. The amount of data and combinations that have been taken into account is admirable. We look forward to the fact that cooperation with Voxwise does not end with a solution proposal, but continues with a long-term partnership.”