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Customer Acquisition and Retention Strategies:
Building Profitable Communities
The cornerstone of a successful catalyst strategy is customer segmentation, targeting and two-way dialogue. Creating efficient interactions among those who participate in the catalyst community is the name of game. Finding new sources of value is the first step.
MPD helps catalysts realize that the road to growth and profitability depends on more than just knowing how responsive one group of customers is to changes in price but how interdependent these demands are. For example, a firm might decide to increase prices to one group of customers. But if the number of those customers drops too much, other groups of customers who might value their participation will value the catalyst a lot less. So, to be successful, catalysts must know precisely how responsive each group of customers is to changes in price and the impact of those changes to other groups of customers.
MPD team members have extensive experience in the creative analysis and effective segmentation of customer groups. With experience that spans a number of industries, and is rooted in economics, marketing strategy and quantitative methods, our approach delivers highly effective catalyst customer strategies. For many clients, we are able to study these questions systematically using “conditional logit analysis,” conducting surveys of customers from each side and using modern econometric techniques to determine the responsiveness of people to prices and other features of the platform including the number of other participants. Conditional logit analysis can predict the best prices to charge the different members of the community.
MPD teams also challenge conventional customer segmentation techniques and dig deep to uncover the one or two critical criteria that will support a successful and differentiated positioning and drive revenue. The result is a strong foundation on which to base catalyst product, service, and company decision-making.
MPD's Core Expertise:
- Customer behavior analysis/adoption strategies
- Using social networks for customer acquisition and retention, and increasing product adoption
- Product road mapping, Gen X/Y buying, payment and technology preferences
- Customer and channel development
- Conditional logit and other econometric demand studies
- Pricing and preference analysis for new product entry and positioning
- Experimental marketing and the design and administraction of research projects to test the viability of new products, pricing schemes, and other go to market scenarios
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The Guest of the Future: Designing a 21st Century Hotel Customer Strategy
MPD principals worked with the leading hotel industry trade group to research and define the guest of the future, and their impact to in room technology products and services.
The first step was to identify both the demographics of the traveling public and their preferences for technology outside of the hotel room.
Five critical insights were established, which point to a possible new opportunity for both hotel and guest: the hotel as a catalyst for bringing new technology opportunities to the guest in order to meet their needs and secure their loyalty.
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