Understanding your business begins with quality MIS. We are surprised how often clients lack critical, timely MIS to support decision-making. We have worked with clients to both design and establish improved MIS. This includes overall portfolio performance, profitability, acquisitions, collections, account management programs, and attrition.
Customer acquisition MIS is probably the most well established piece of MIS at most organizations. Costs can be isolated and acquisition effectiveness calculated fairly easily. However, this provides only high-level information. True insights leading to significant improvements can only be gained by delving deeper into understanding just how effective new business efforts are.
“If you don’t know where you are going any road will get you there.” If you don’t structure your tests and MIS to provide detailed information you won’t gain needed insights into how to improve your acquisitions effectiveness. Have you captured needed data to analyze with which segments you are most successful? Are prospects randomly assigned to different offers to allow you to assess winners and losers among offers, creatives, and segments?
Sophisticated marketers forecast new customer behavior to calculate net Present value (NPV) and returns. Are you comparing actual performance to your forecasts? Do you know how customer behavior is changing and how that behavior affects future customer acquisition programs? Are returns better or worse than expected? Simple yet complex, improving acquisitions MIS requires discipline and detailed data to ensure on-going success.
