What You'll Learn

Customer Analytics Course Objectives

At the end of this course, you will be able to

• Understand how data is used to find out the customer behavior
• Find out what are the best practices for using the data to create more effective business strategies
• Find out the success rate of the business strategies using the current data
• Track the customer’s needs and deliver what they expect at a right time
• Make better business decisions about data related to customers of your business

Prerequisites for taking this course

The people who are taking this course should have problem-solving abilities and a keen passion for learning.

Target audience for this course

This course is meant for marketing managers, data managers, business development managers, data analysts and IT managers. People who have keen passion towards learning customer analytics can also take up this course.

Customer Analytics Course Description

Section 1: Introduction

This chapter includes an overview of customer analytics, what is customer analytics, the importance of customer analytics, what can you do with customer analytics and how it can be used in your organization.

Section 2: Basics of Customer analytics and Customer Lifecycle

• What is customer analytics
  Customer analytics helps to unlock details about the customers and expand your business which will, in turn, increase the return on investment. This section covers a brief introduction to Customer analytics, why is it used in companies, how it is used in the organization and what are the pros and cons of Customer analytics.
• Customer Lifecycle
  Customer Life Cycle is used to explain the progression of steps a customer pass through while purchasing or considering to purchase a product or service. This cycle is depicted as an eclipse and the customer should pass through this customer life cycle again and again in order to achieve the company’s goal. This section includes an explanation for the term customer lifecycle, introduction to the customer life cycle and calculation of the customer lifecycle value (CLV). The other topics covered under this section includes the following
• The classic view of the customer life cycle
• Customer lifetime value measurement
• Return to the Customer lifetime value
• CRM and customer equity perspective

Section 3: Customer Onboarding

• What is Customer Onboarding
  Customer Onboarding is the process of acquiring new customers to an organization in a more effective way. It is the most effective sales strategies used by most of the banks and credit unions to improve their customer relationship. This chapter includes the following topics
• Definition of On boarded customer
• Elements of customer Onboarding
• Tactics to onboard and engage new customers
• Customer Onboarding process
• Secret to successful customer Onboarding
• Frequent customer Onboarding mistakes to be avoided
• Customer Onboarding process for a typical bank
  Customer Onboarding is a process which helps the banks to accurately get customers faster. This chapter explains the steps for successful Onboarding in banks that will lead to best in class implementation. The steps are given below
• Appoint a Program leader
• Include all new account openers
• Acquire the right households
• Collect insights from day one
• Communicate with the new account holder early
• Connect with the new account holder often
• Personalize dialogue
• Start with a simple Thank You
• Build engagement before selling
• Don’t forget your brand
• Provide personalized offers
• Start your communication with Snail mail and Email
• Integrate all possible channels
• Leverage your local presence
• Build custom jump pages
• Integrate video as engagement tool
• Maximize digital retargeting
• Selling on mobile
• Measure results
• Test and learn
• Don’t try to boil an ocean

The section also includes the uses of customer Onboarding and the benefits of customer Onboarding in banks.

Section 4: Customer Activation

What is activation and why is it necessary
Customer activation helps to motivate the customers to move on to the next stage of the customer lifecycle faster than before. Customer activation will help you to find out

• Whether your current marketing is towards the target
• Whether there is a need to rearrange your budget plans
• If there is a need to improve your team’s effort
  How to move customers towards your goal
  The other topics covered under this section includes key principles of customer activation, Why to use customer activation software, tactics to get started with customer activation, benefits of customer activation and measurement factors of customer activation

The importance of customer activation
Implementing a proper customer activation will help to increase the amount of repurchase of the customers, strengthen its relationship with the customers and acts as an effective means of marketing. This topic covers all the reasons why customer activation is considered important in organizations. It also contains case studies of customer activation.

Section 5: Cross Selling

What is cross sell and why cross-sell
Cross-selling is one of the best marketing strategies which suggests related or complimentary products to a customer. It is the easiest method of marketing. Here you will learn the definition of Cross Selling, advantages of cross-selling, tips for successful cross-selling, effective cross-selling tactics and the importance of cross-selling.

How do we cross-sell effectively

This section contains the tips to make cross-selling effectively. The topics included are

• Know your customers before cross sales
• Sell only relevant items
• Make your cross-selling offers sound natural
• Estimate your operational costs
• Combine this tactic with other marketing strategies
• Bundle products
• Use on product copies of cross-selling offers

This section also includes the Importance of cross selling for banks and Non-financial institutions and its case studies.

Upselling
An upsell is the marketing strategy which makes the customers spend more money by purchasing a more expensive model in the same category of product or get an added feature to the purchased product. This section includes the following topics

• Definition of Upsell
• What is upsell
• Why upselling should be used by organizations
• Techniques used in upselling
• Difference between cross-selling and upselling
• Benefits of upselling
• Advancements in the field of upselling techniques
• Examples and case studies of upselling

Section 6: Campaign Life Cycle

Campaign Life Cycle Transition to Lead Management
This section covers the topics what is customer lifecycle marketing, steps to manage the customer lifecycle marketing, steps for successful marketing campaign and elements of campaign lifecycle

Stages of campaign

This section contains the stages of campaign lifecycle explained under the following headings

• Plan
• Create
• Approve
• Execute
• Measure

Campaign Execution
Execution of campaign is one of the important stages in the process of campaign lifecycle. The execution should take place in the correct time frame. It something is not executed at the right time then it will be a loss for the business. This chapter contains the following headings

• The campaign lifecycle
• Execution phase
• Hurdles faced in the execution stage
• Tips to overcome the hurdles in the execution stage

Campaign Channels
There is a different type of channels available to do your campaign activities. But you should select what is best for you and for your organization. The channels included in this section are listed below

• Social Media
• Public relations
• Targeted landing pages
• Co-marketing
• Blogging
• PPC
• Emails

All these channels are explained in detail and a case study or example is given for each channel.

Campaign assessment
Campaign assessment will help you to know whether the campaign worked out well or not, where the expectations of the participants met out or not and other related questions. Campaign assessments can be classified based on their purpose. There are five types of campaign assessment which are explained in detail under this chapter

• Formative
• Developmental
• Process
• Outcome
• Impact

This section also includes Things you need to know about campaign, Experimental trials and Random controlled trials and examples for evaluation of a campaign.

Conclusion

This section gives a brief conclusion to the topic customer analytics. It tells us how important is it to use customer analytics in today’s world, what will be the causes if you don’t use customer analytics in your organization, what are the uses of customer analytics in your business, what will be the next stage of customer analytics and how are the technological advancements in the field of customer analytics. It also gives you a list of the popular customer analytics tools or software that can be used for your organization.

FAQ’S General Questions

1. What do I need to know about the topic before enrolling in this course?
   There is no prior knowledge or experience required to undertake this course. Anyone who is interested in learning how to make decisions in their business using customer data can take up this course.
2. How long does a course run?
   The course duration depends on the topic. The details for each individual course is posted in the course details
3. Is an online degree gained equal to the degree gained or knowledge gained through classrooms?
   Of course, online courses are equal to classroom degree programs. They provide the same amount of contents and dedication as it is in the classrooms.