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Client: The company was formed as a partnership by the electric utility industry when the energy sector was deregulated. Its mission was to help build customer loyalty and boost retention of existing utility customers in the face of unprecedented and rapidly shifting competitive pressures. Specifically, the company offered unique timepieces, distinctive weather monitors, lamps and lighting specialties to utility customers through catalogs and retail locations. |
Challenges: Utility deregulation forced the electric utility industry into a completely new kind of competitive environment and utilities were not well prepared. Their data systems were not designed to track marketing data or activities. Their accounting systems could provide only basic sales information, and then only with great difficulty. Utility companies had neither data nor experience with competitive marketing strategies. Prospecting efforts were restricted to the mass-market variety and customer retention efforts were virtually non-existent. Costs were high and response was low... and they didn't know where to start to change things.
Solution: Moving quickly was essential. First, Management Analytics Group designed and developed a database specifically for marketing use. It stored selected data extracted from the company's mainframe systems and was updated on a regular basis. Then Management Analytics Group analyzed the data and developed a predictive model that revealed distinctive patterns in customer behavior by tracking promotion codes and keycodes.
Result: With Management Analytics Group's help, the company jump-started their marketing programs quickly in response to the sudden change in their business environment. With the aid of the predictive model developed by Management Analytics Group, they were able to affordably experiment with a variety of marketing strategies and objectively measure their results. This provided feedback quickly so they could adapt their strategies to the rapid shifts in their new competitive environment.
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