The overall methodology of closed loop customer interaction management combines Caratera’s best practices to seamlessly interoperate toward an optimized customer life cycle management.
Our best practice areas are Business Intelligence, Enterprise Marketing Management, Marketing Performance Management, Database Marketing/Marketing Automation and Customer Relationship Management (including all business processes that directly or indirectly impact your customers).
The BI infrastructure integrates and manages relevant customer and business data to support reporting, performance management, analytics and customer behavior modeling. Data sources are extracted from their data sources and placed in a centralized data model in support of the customer centric view. Performance management is supported using:
- User and analytics friendly database views
- Static reports
- OnLine Analytical Processing (OLAP)
- Dashboards and scorecards
In further phases of development, the data provides support for deeper analysis and customer behavior modeling, such as churn propensity, propensity to buy and life time customer value. Your marketing analysts will use the data and tools to identify root causes, relevant customer behavior, marketing and process effectiveness, define relevant customer segments and customer offers/treatments.
The customer base and the analytics/models are then combined in complex decision and campaign management logic for consistent execution across all customer interaction touch points (CRM). These touch points include CRM systems that manage:
- Sales interactions with the customer
- Direct marketing campaigns
- Online customer interactions
- Billing and collections
- Ordering and repair
- Telesales and affiliated sales channels
Further in our process, we capture the customer interactions disposition for the applicable offers/treatments. The resulting information is fed back into the data and is evaluated for its effectiveness and efficiency toward achieving the KPI targets. The customer treatments and offers are consistently evaluated and adjusted to optimize the results. Offers and treatments that perform better than current best business practice become new strategy and are consistently tested. Over time, customer interactions and sophistication of treatment and offer refinement will lead to near optimal, one-to-one customer interactions, using the Caratera approach.
No amount of customer or marketing intelligence can replace deep customer relationships. Customer interactions outside of sales (e.g., .com/self service, collections, direct marketing) must be consistent to avoid customer confusion and lack of targeted actions toward the customer. The Caratera-built marketing automation and BI infrastructure is designed to manage this consistency and is the enabling technology behind this methodology and can reuse infrastructure applications that exist today in your environment.