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CASE STUDY How Acrotrend helped The Economist to increase the Customer Lifetime Value of their subscribers The Economist Group is the leading source of analysis on international business and world affairs. Based in London and serving a global readership and client base, the group’s flagship businesses include The Economist newspaper and website, and research and analysis division, The Economist is read The Economist Intelligence Unit. by more of the world’s The Economist’s Objectives political and business leaders than any other The Economist envisions to design and deliver a digital magazine and has customer experience, that is as excellent as their content a circulation of just and deserving of their brand. under 1.7 million. This required a simple but rapid technological approach to building completely new capabilities for customer experience, retention, acquisition and tracking business performance. The Economist also wanted ownership of their customer data and processes to have the Acrotrend's Offering for flexibility and agility to configure the platforms and offer personalised Subscription Business experiences to the end customers. Solution About Acrotrend In early 2020, The Economist embarked on an ambitious customer We are a Financial Times experience program called Future Customer Experience (FCX) to enable listed Data Analytics their digital transformation. The FCX platform, is underpinned by a global consultancy that help data and analytics platform, that would help: content-based subscription Measure KPIs across finance, marketing, customer service and businesses increase their • customer lifetime value. product divisions We support our clients in Enhance customer engagement across digital products • exceeding their objectives Enable The Economist to grow customer lifetime value, and enhance • by delivering customer data Renewal rates and the Average Revenue per Subscriber (ARPS) platforms and using data The Economist partnered with Acrotrend to bring their vision to reality. science to make data driven decisions to acquire, serve and retain customers. Thus, Using their DEPTH methodology, Acrotrend delivered a improving the customer customer data and analytics platform from scratch that experience and ultimately included transactional and behavioural data, in just increasing the customer under four months. lifetime value. Established in 2007, we have The robust architecture included a global data platform on Snowflake to successfully delivered over enable rapid deployment and integration of data from 10+ data sources 250 engagements in several (having 1+ trillion data points), which included, Salesforce Service and industry verticals including Marketing Cloud, Zuora, Google Analytics, Adobe, Snowplow, Drupal and high-profile clients such as Content Store. The Economist, Informa, Outcomes Reed Exhibitions, Gilead Sciences, Disney, BNP Paribas, Acrotrend established capabilities for The Economist which enabled them to: GlaxoSmithKline, Nuffield Health, Groupe Atlantic and Define and standardise strategic and operational KPIs Cancer Research UK. • Dynamic customer segmentation for contextual needs of retention, • engagement, and acquisition across various teams Embedding insights directly into customer facing systems and • platforms to personalise and improve experience on content websites, and increase retention Insights on funnel progression and friction-points and channel • attribution for their acquisition, abandonment and Renewals Solution powered by: Acrotrend's Offering for Subscription Business
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