Think cell phone billing is only about providing your customers with a convenient payment method? You would be surprised to know what you can learn from a customer’s billing information.
Companies spend thousands on market research. Getting to know who your customers are and what they really want, is no easy task. Wouldn’t it be nice to gain some of that niche info without using extra resources? You can indeed – through something as simple as your customers’ transaction history!
By analysing purchasing behaviour, you can gain valuable insight that will help you to create marketing strategies with pinpoint accuracy and products/ services that fit your customers like a glove.
You could learn the following.
What your customers actually prefer: you might think that your purple cell phone covers are all the rage, but your customers might be more interested in ones that are green or blue. So instead of only selling purple covers, you can rather stock a variety of blue and green coloured ones. Now you don’t waste money on stock your customers don’t want AND you could even sell more of your products.
How to incentivise: cell phone billing can show you which type of products a customer buys on a regular basis (for example shaving cream). Rewarding a customer with something you know they want (shaving products), carries more weight than incentivising them with a random product (for example a pot plant) they most likely have no use for.
If a customer is here to stay: no company wants to waste resources wooing once-off customers when they could be spending it to retain loyal ones. Regular billing is an obvious sign that a consumer is making use of your services often. What you want to do, is give your regulars special treatment so they can convince their family and friends to become regulars as well.
When they are making purchases: use cell phone billing history to get a rough idea when your customers are “active.” If a particular customer usually makes her purchases at 11h00 on a Wednesday morning, you can send a marketing text/ mobile voucher her way at 10h00 that will encourage purchasing behaviour.