Operationalise your data
For this opticians, key sales performance had been driven predominantly by improvements of Average Selling Price across fashion frame sales. This was coming under threat from increased price competition, as well as the economic downturn leading to customers leaving their eyecare.
What We Did
We were asked to help further the understanding of their customers and the underlying health of their business covering; a core behavioural segmentation of customers; propensity to switch modelling; performance and customer mix variants and drivers for each location.
This resulted in the development of a core growth and retention strategy for each customer group via both a centralised CRM programme and local marketing initiatives. This was supplemented with an optimised range strategy based on the consumer profiles for each store/location type. Early results saw a $4.4M in incremental revenue with 12.5% lift in sales to targeted customer groups.