InteractCM - Fact Sheet - Individual Customer Profiles

As organisations transition from the mass marketing paradigm to the one-to-one, relationship marketing paradigm, so the need for more knowledge about individual customers rapidly escalates.

Typically organisations make the transition via the direct marketing paradigm which targets customers based on analysis of aggregate data. The average response rates from these direct marketing programs is around 2%. Not surprisingly, management are keen to pursue strategies which produce significantly better results.

Accordingly, individual customer profiles have evolved to provide a much greater level of detail to support one-to-one, relationship marketing.



	Poorly targetted marketing offers, which result in poor response rates and increased marketing expense
	Difficulty in identifying what is the right product offering for each customer
	Increased rate of customer defections for no apparent reason
	Duplicate offers to the same household
	Inability to react quickly to competitor's product initiatives
	Increased customer complaints about inappropriate communications


	Retain high value customers through appropriate behaviour
	Acquire and target more potential high value customers
	Effectively target customer groups at differing stages of their relationship
	Identify opportunities to increase revenue
	Differentiate offers and value propositions within a CRM program
	Dramatically improve response rates to marketing efforts
	Achieve better results from a CRM program earlier


InteractCM approach to consolidating the customer information collected and enriched in earlier phases of the Customer Management Process is to create individual customer profiles for all customers. The key aspects of the consolidation process that influence the success and use of customer profiles are:
	The degree to which the profiles match the real world attitudes and behaviours of the customer
	Ensuring that the critical aspects (data elements) of a customers profile are not lost in the aggregation & summarisation of vast amounts of customer data
	The direct linkage and alignment of the organisations business strategy and drivers, using InteractCM's relationship segmentation method with an individual customers profile

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