Samsung Customer Lifetime Value
In the drive to be more customer and audience centric, Samsung Europe asked Iris to create a range of Lifetime Value models that would allow smarter customer management and targeting. The ambition is to drive increased cross-sell and up-sell opportunity as well as manage customers more appropriately based on their relationship and value to the brand.
Working with Samsung Europe, Iris undertook the development of an anonymised single customer view of 68m unique customer records to create a 15 year Lifetime Value model and 12 month propensity models.
As the owned data set was limited to customers who had either registered products with Samsung or had a service transaction, Iris also used a large quant survey of 80k respondents to understand the full product ownership view of both Samsung and competitor products to enable ownership extrapolation over the full base.
The full process was tightly managed within new GDPR regulations and “legitimate interest” customer benefit justification.
Customer level Lifetime Value and propensity tags at a category, cross-category and market level are being loaded into CRM (incl. DMP) and GCIC data bases in July 2018.