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Identify your Best Customers

Collect all data and store in a Customer Data Platform (CDP), a single platform to marry all data and get a one-view.

Use the transaction data and calculate a Customer Lifetime Value (CLV), a forward-looking, predictive metric to measure customer value

Use all other behavioural data to decode the Best Customer genome--what makes them the best customers?

Why calculate Customer Lifetime Value?

Determining CLV the right way is the key to identifying best customers

CLV is a forward-looking, predictive measurement that is calculated by modelling and projecting the following:

  • How long the customer relationship lasted (for churned customers) or is likely to last (for active and future customers)

  • Number of transactions

  • Value of the transactions

- Peter Fader, “The Customer Centricity Handbook

Calculating CLV to find your Best Customers

Determining CLV the right way is the key to identifying Best Customers

Want to know how CLV is calculated and the details of the modelling? Click the button below.

Step 1

Calculate CLV for every customer

Step 2

Chart the CLVs of all customers

Step 3

Sort the customers by CLVs - High to low

Step 4

Create specific experiences for the best customers

Decoding the Best Customer Genome

Once you have calculated the Customer Lifetime Value, it's time to move on to BCG.

Image by Martin Adams

- Peter Fader, “The Customer Centricity Handbook

CLV is purely derived out of transactional data. But what drives these transactions? That's what BCG strives to understand.

 

To arrive at BCG, you collect data at every touchpoint and uses AI/ML models to keep learning customer behaviour by looking for patterns.

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Use data points like:

  • Identification: Number, Email, Cookie, Device ID

  • Web, app behavioural data

  • Demographic data either given by the customer or deduced by actions

  • Offline interactions

Creating a powerhouse!

Individually, both metrics are powerful.

Together, though, Customer Lifetime Value and Best Customer Genome can be magic. 

Identify

Analyse behavioural & transactional data of all customers

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Match individual customer genomes with BCG to see who can be your Best Customers

Nudge

Compare genomes of customers

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Match to another who is ahead in the journey

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Nudge to replicate action

Acquire

Target look-alike acquisition based on BCG, instead of just anybody

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Create micro-segments to further reduce cost of acquisition

Growing revenues

Identify, retain and develop the BEST. Nudge some from REST to BEST. Acquire NEXT.

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