Learn about the customer acquisition process and the various factors that play a role in reaching the right customers.
- [Instructor] How do businesses acquire customers? What is the step-by-step process they follow? First, they need to identify their markets and their prospects. Computers are very popular and are used by a wide variety of people. The business needs to identify them and qualify them as prospects. Then the business needs to reach out to them with appropriate advertisements and offers. It should use channels of communications that are effective and efficient. They should entice the prospects to visit the online website and take a look at the products and services.
When the prospect is interested in the product, the business should engage them, answer their questions, and make offers to help them buy the product.
Start off by learning about the various phases in a customer's life cycle. Explore the data generated inside and outside your business, and ways the data can be collected and aggregated within your organization. Then review three use cases for predictive analytics in each phase of the customer's life cycle, including acquisition, upsell, service, and retention. For each phase, you also build one predictive analytics solution in Python. In the final videos, author Kumaran Ponnambalam introduces best practices for creating a customer analytics process from the ground up.
- Understanding the customer life cycle
- Acquiring customer data
- Applying big data concepts to your customer relationships
- Finding high propensity prospects
- Upselling by identifying related products and interests
- Generating customer loyalty by discovering response patterns
- Predicting customer lifetime value (CLV)
- Identifying dissatisfied customers
- Uncovering attrition patterns
- Applying predictive analytics in multiple use cases
- Designing data processing pipelines
- Implementing continuous improvement
Skill Level Intermediate
Business Analytics: Prescriptive Analyticswith Alan Simon2h 40m Intermediate
Data Science Foundations: Python Scientific Stackwith Miki Tebeka3h 34m Intermediate
1. Customer Analytics Overview
2. Will You Become My Customer?
3. What Else Are You Interested In?
4. How Much Is Your Future Business Worth?
5. Are You Happy With Me?
6. Will You Leave Me?
7. Best Practices
Choose the right data1m 19s
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