Segmentation
Segmentation has two general uses: It can provide
insights as a managerial or executive tool to aid in
making business decisions or it may be used to target
existing customers with preferred marketing more in tune
with their interests or propensities.
If you
are a business looking to either promote tailored
products to your existing customers or add products or
services to your existing line up, then finding out who
your customers are is the first step in that process.
This can ensure that promotions of your products or
services are targeted to the customers most likely to
use them.
Segmentation techniques are used to group together your
customers based on different measurements. Each grouping
of customers will have similar habits, views, patterns
of behaviour or demographics. These groups (segments)
can be created using demographic data, survey data and
spending data.
Furthermore, by using statistical techniques, we
can assign any new customers you have to these segments
based on a set of questions when they join or sign up. This allows
these new customers to be targeted directly with
products or services they are most likely to want to
buy.
Such information is clearly
invaluable. Not only does it make your promotional
activity more efficient by saving you money on staffing,
postage and telephone call costs, it also makes you
money by targeting exactly the right people likely to
respond to your promotion.
We use a
variety of techniques to segment data based on the types
of data you have available. However, we would generally
recommend that some of your customers are surveyed
intermittently as this kind of information is invaluable
for informing customer service as well as promotional
based activities. It is also the best quality data for
segmentation. Click
here to watch the demonstration
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here to contact us and make a no obligation enquiry
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