Customer Value Management
CVM is a continuous process that focuses on increasing customer value. CVM is designed to define the major digitalised elements that will enable the successful digitalisation of the processes that correlate customer intelligence with profitability for long term optimal business performance. CVM is a powerful business tool as it links customers to Key Business Indicators (KPIs) by directly measuring the drivers of purchasing behaviour and the impact these have upon delivering business KPIs.
What is the scope?
Intersection of business, technology and CX.
CVM is at the intersection of business, technology and customer experience (CX). Its ultimate goal is to generate incremental revenue by deep customer understanding and mining the data to retain valuable customers and maximize customer lifetime value. Based on that we can develop and deliver tailored products, services and experiences through digital channels.
This phase includes
CVM Plan that defines
- CVM related KPIs
- Data strategy describes what is the most important data for the business, how the data shall be acquired and enriched (data merging and saturation) and how the data will be used
- Clients segmentation, user patterns and behaviour, set CVM related scoring rules
- Relevant technology selection of the right tools and technology that are enablers of CVM
- Analytics plan for decision support to ensure maximum impact. How to measure operational effectiveness and test the results of CVM digital initiatives.
Run, Manage and Measure CVM initiatives
- New tools and functionalities within existing digital ecosystem
- New elements of digital ecosystem
- Digital campaign management that includes capabilities such as Marketing Automation, Recommendation, Notification and Personalisation, Website design optimisation (A/B Testing) and Multivariate Testing
Optimise digital solutions towards CVM KPIs
- Evaluate initiatives and campaigns
- Optimisation based on 360 degree customer Google 360 analytics and BI
- Ongoing reporting
- Periodic reports
- CVM Plan
- Execution and implementation of CVM activities
- Reports - ongoing and periodic reports