The amount of information produced each day in the fashion industry (especially online) is enormous and, if adequately exploited, enables the generation of business insights that are able to revolutionise marketing strategy and increase ROI.
However, Marketing and CRM functions are often not capable of exploiting the whole potential of available data alone, and employees end up spending a lot of time extracting and creating reports, wasting energy and resources.
In this context, Envision Reply supported a worldwide leader in the luxury and online fashion industry in leveraging their data in the best possible way through the realization of advanced analysis of selected business topics, the design and the implementation of advanced reports with automated update processes and the generation of strategic guidelines for optimizing contact channels with customers.
Envision Reply, thanks to its team of Data Governance, Advanced Analytics, Data Visualization & Business Strategy experts, was able to support the customer in their journey to better leverage the available data.
Benefits ranged from managing data sources in a more efficient and effective way to the application of Machine Learning and advanced reporting models to improve Business Strategies.
Envision Reply's strengths include a complete industry knowledge and the adaptability to work on systems with the programming languages adopted by our customers, providing solutions that can be immediately used and later scaled.
Envision carried out a study on the impact of endogenous (e.g. commercial and marketing actions) and exogenous (e.g. seasonality) variables on the amount and the quality of the newly acquired customers, by using different Machine Learning models according to two different business goals:
The analysis conducted enabled the Marketing function to better exploit all the available leverages and commercial actions by exploiting a What-If Analysis tool to select the most efficient mix to match external conditions.
The analysis of the correlation among products and/or brands purchased by each customer enabled the creation of an Association Matrix capable of providing Marketing Automation engines with indications on the type and the brand of products to be shown to users according to their own interests, therefore optimizing Marketing actions and increasing Customer Satisfaction.
Many Dashboards have been designed and realized in Tableau, which resulted in being highly beneficial for the company in reducing time of report creation and sharing as well as enabling marketing users to autonomously conduct detailed analysis.
In particular, a dashboard for comparing the Customer Life Time Value between different groups of customers was designed and implemented. The analysis was aimed at comparing channels of customers acquisition and reactivation, «following» them from the moment of activation until a settable number of months.
This enabled the visualization of each acquisition value over time and the identification of the channels with the highest performances, allowing a dynamic rather than static analysis of business KPIs across the customers’ entire life cycle.
The analysis has been performed on the communications received by customers through the company’s Digital Channels by generating Clusters of customers based on their response rates, purchasing behaviours and personal data. The analysis enabled the identification of channels and contents preferred by each type of user and the identification of commercial campaigns guidelines to boost efficacy and efficiency.
The analysis and the Contact Strategy guidelines allowed the customer CRM function to reduce the effort needed to manage commercial campaigns, increasing at the same time the Customer Satisfaction by avoiding overexposure.
Envision Reply is the Management Consulting company of the Reply Group specialized in Advanced Analytics and Business Strategy. We have expertise in Sales & Marketing Intelligence, Corporate BI, Data Strategy & Governance, Artificial Intelligence, Machine Learning and Data Visualization application to various Business needs in the different industries and countries where our Clients operate. We support companies, both strategically and operatively, throughout the whole Digital Transformation process in value chain mapping, analysis and optimization thanks to our know-how in Business Data management, supporting the adoption of digital enablers and ensuring proper Change Management.