| 
| 
Using Data to Drive Business Strategy & Maximise Data Value
The Background
HiFX plc is one of the UK’s top 3 foreign exchange companies The company has over 25,000 customers but was unsure where best to allocate sales, marketing and support resource as they were not clear on customer profitability. DQM Group was asked to analyse customer profitability and suggest how best HiFX could manage resources going forward.
How DQM Group Helps..
Our methodology involved a financial review of all revenue data available on the customer base. From this we were able to illustrate how average revenues per customer and average margins had changed over time. In addition we were able to illustrate which customers were contributing most to profitability and which were in fact delivering a negative contribution. We then overlaid the data with a leading profiling tool to provide a clear picture of the customer base and more specifically an indication of where HiFX should concentrate its marketing effort in order to find more “look alike” companies.
The Result
DQM Group were able to identify 3.5M prospects who match this demographic profile. HiFX is delighted with the results and is now in the process of restructuring resource to match profitability segments and DQM Group is in the process of assisting with its data requirements so marketing spend can be targeted on DM away from the heavy exhibition and press advertising of past years.
About DQM Group
DQM Group is the most trusted independent provider of data governance services to the UK marketing industry. Our protection of intellectual property has been proven in the High Court and we are an acknowledged leader in data quality and security.
Where next?
More about Data Services from DQM Group
Read more customer case studies
Call us on 0870 242 7788 to talk about how Data Services can help your business.
