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Take home case study - Customer Retention Marketing

I've made it to the final round of interviews at a small marketing consulting firm and have been given a take-home case study where I'm asked to address customer rentention concerns for a "no-name" service-based company in the travel sector.

I am unsure how to prepare my presentation in such a way that it aligns with consulting norms. Specifically, I'm having difficulty developing a structure that is MECE. The factors to evaluate for customer rentention/engagement are not discussed in the consulting materials I've studied so far. Any tips of how I can begin framing the "problem"?

Many thanks for any help!

I've made it to the final round of interviews at a small marketing consulting firm and have been given a take-home case study where I'm asked to address customer rentention concerns for a "no-name" service-based company in the travel sector.

I am unsure how to prepare my presentation in such a way that it aligns with consulting norms. Specifically, I'm having difficulty developing a structure that is MECE. The factors to evaluate for customer rentention/engagement are not discussed in the consulting materials I've studied so far. Any tips of how I can begin framing the "problem"?

Many thanks for any help!

2 Antworten

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Beste Antwort

Hi, if I understood correctly you have two issues:

1. you are having difficulty in structuring the problem in a way that it is MECE

2. you don't know much about customer retention

About the first point, you are probably not breaking down the problem correctly, or you are mixing different factors (try to keep breaking them down until you isolate all the components).

About the second point, try to use the common frameworks (4Ps, Porter, etc.). If they are not useful (I think they should be) then try to read some literature about customer retention. I personally think that instead of learning frameworks it is better to develop some business sense

Hi, if I understood correctly you have two issues:

1. you are having difficulty in structuring the problem in a way that it is MECE

2. you don't know much about customer retention

About the first point, you are probably not breaking down the problem correctly, or you are mixing different factors (try to keep breaking them down until you isolate all the components).

About the second point, try to use the common frameworks (4Ps, Porter, etc.). If they are not useful (I think they should be) then try to read some literature about customer retention. I personally think that instead of learning frameworks it is better to develop some business sense

(editiert)

Ideally Customer retention is also denoted as retention marketing.
Retention marketing is a strategy that involves a series of techniques that transform visitors into repeat customers.
A successful marketing campaign to boost retention is based on the detailed history of each and every customer. This includes all the times that your customers interacted with your brand.
To give you an example, the data points could include store visits, outreach engagement, and past purchases. Once you get hold of these valuable data, you can effectively create behavioral segments, that will further help you with framing a retention marketing strategy.
But you must understand that a personalized retention marketing campaign is the name of the game, to bring your customers back for repeat purchase. Following are the success metrics you’ve got to track:
Purchase frequency
Average order volume per purchase
Customer retention rate
While I’ve defined what retention marketing is, you need to also understand why it’s ten times more important than acquisition marketing.

For better understanding and strategy you can visit this link which helped me a lot

https://www.getingage.ai/blog/your-guide-to-retention-marketing-in-2020

Ideally Customer retention is also denoted as retention marketing.
Retention marketing is a strategy that involves a series of techniques that transform visitors into repeat customers.
A successful marketing campaign to boost retention is based on the detailed history of each and every customer. This includes all the times that your customers interacted with your brand.
To give you an example, the data points could include store visits, outreach engagement, and past purchases. Once you get hold of these valuable data, you can effectively create behavioral segments, that will further help you with framing a retention marketing strategy.
But you must understand that a personalized retention marketing campaign is the name of the game, to bring your customers back for repeat purchase. Following are the success metrics you’ve got to track:
Purchase frequency
Average order volume per purchase
Customer retention rate
While I’ve defined what retention marketing is, you need to also understand why it’s ten times more important than acquisition marketing.

For better understanding and strategy you can visit this link which helped me a lot

https://www.getingage.ai/blog/your-guide-to-retention-marketing-in-2020

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