In the financial world it can seem like a constant battle to attract new customers whilst retaining those you already have. It’s a job that’s been made much tougher now that it’s so easy to compare products and prices online.
With QED suite of software you can use historical data to establish which of your marketing activities are key to acquiring new customers, as well as those activities that you could safely divert money away from. You can also use marketing mix modelling to determine how much of a role price plays in retaining your customer base, and what impact changing price will have on your retention rate.
Also, when looking at your advertising -- is a brand message more effective than a product or price message? Does this vary by product and for acquisition vs. retention?
Once you have identified the impact of your marketing activities, you can run forecast scenarios and optimise the budget across activities and products to maximise revenue.
QED marketing software can help you answer any of the theses questions, so contact us today.