Identify Top Quartile Customers
Global cruise line companies often own multiple individual cruise lines, which, on a granular level, means thousands of discrete, separate products. These products range from staterooms to excursions to beverage packages. The sheer number of things a customer can buy – the sheer number of individual transactions – could make it nearly impossible for each brand, let alone the global company, identify its most loyal, valuable customers who spend the most.
For the cruise industry, one might think it’s a simple answer: the customer who purchases the most expensive cabin, stateroom or suite. But from an operating and financial perspective, cruise lines don’t actually make money from the passenger’s fare or cabin. The profit comes from the on-board purchases, beverage packages, restaurant upgrades, excursions and more. In theory, you could have someone in an expensive suite not spend much in other areas, or someone in a smaller stateroom or cabin who purchases many of the profitable, higher-margin products.
The next layer of complexity comes in when thinking about the cruises themselves. Some ships and destinations are more profitable than others. The operating expenses vary by ship, and the port fees vary by destination.
BULLSEYE™ can work with four areas of company data: its customer list, its list of products, the list of customers’ purchases, and marketing events. This encompasses invoice records, order histories, product catalogs with pricing information and hierarchies, CRM events and interactions, emails opened, ads clicked, data from CXA and Omniture and more.
It can easily connect to this data in the cloud, with new data flowing into BULLSEYE on a daily or weekly basis, depending on the specific need. BULLSEYE analyzes this data, and can easily generate a list of a company’s top quartile customers.
BULLSEYE does not require months of designing and developing a custom application. Instead, this cloud-based application simply needs to access the company’s existing data and analyze it. BULLSEYE also continuously learns from the data.
Marketing executives and senior managers from the individual cruise lines, as well as management from the global parent company, can log into BULLSEYE and simply ask: Who are my most profitable customers? Even better – they can subscribe to that question and have BULLSEYE send them the answer on a regular basis.
Imagine the possibilities: they can market under-sold cruises to profitable customers. They can also analyze these customers and develop personas to understand how to create market demand from “like” customers. Having the answer to this one question can drive profitability across the entire business.