Know Your Customers!
Every customer is different and so is their behavior. Understanding the vast and diverse universe of the customer base requires segmenting them based on common characteristics and behavioral traits. These characteristics could be defined by the requirements, preferences, lifestyles or life stages.
Key benefits of customer segmentation are:
1. Enables us with the comprehensive customer profile
2. Helps us realize the visit motivation of the customer
3. Filters the target group for marketing campaigns and thus increases in the marketing ROI
4. Track changes in customer behavior over the time
Customer segmentation allows us to understand the volume and variety of the customer base in minutes; discovering the differentiating traits among segments.
With our customer segmentation approach, you would be equipped to answer:
1. How is each customer segment different to other?
2. Which customers are likely to churn?
3. Which set of customers have potential to spend more?
4. Which products or services entice which customer group?
5. How seasonality does affect the customer behavior?
6. What is the intersection between the customer loyalties with their life stages?