Challenge: A downtown business group wanted to increase the number of visits to the area. Awareness of the area was already shown via survey to be high and repeated television and radio advertisements and promotional spots had assured it would stay so. Visits to the area however had remained fairly stable and had not increased with increasing awareness. The business group needed help with increasing visits and spending.How Are You Using Your Member Data?
To tailor your marketing efforts to a specific segment of your target market? To appeal to members’ unique wants and needs, listening to the pulse of past behavior? To maximize return on your advertising-marketing dollar? If not, we have an answer.
The Fidelity Classification System, a segmentation method specifically for associations and businesses, groups members by their behaviors to create products and services tailored to their specific needs. With past behavior as a crystal ball to future behavior, you’ll be able to see precisely what motivates them.
Just as Amazon.com might tell you about the latest John Grisham book based on your past purchases, imagine if you could tell your folks about new products or services they want…simply and precisely…based on their past buys.
Process
- Using your data (or after we help you obtain it), Monalco analyzes your members’ behaviors during a certain period (usually the past year).
- Members with similar behaviors are placed into groups.
- “Tags” are created for each group for easy classification in your CRM system.
- A hierarchy is created from the “Tags” in which each group represents a higher level of involvement and commitment (loyalty).
- Monalco updates customer tags periodically based on customer/member behavior in the most recent period.
- A behavioral profile is created to track a customer/member’s movement across tag groups over time—allowing you to direct them toward higher levels of commitment and loyalty.
Benefits
- Fidelity Classification System is developed for those seeking a segmentation system that allows for prediction of behavior, increases in levels of involvement/purchases and that can help you retain—not lose—customers/members.
- Significantly reduces the time and variation associated with traditional data-segmentation methodologies.
- Customizes your marketing strategy to target key groups.
- Using the behavior profiles, you will be able to identify and ‘save’ customers/members before they switch to your competition.
- By profiling individual behavior patterns you will be able to direct members toward increasingly higher levels of involvement and commitment (loyalty).
- Saves marketing dollars because you market to specific target groups only.
