WHAT WE DO / SOLUTIONS BY FUNCTION
Customer Management
Customer Segmentation
Actionable Segmentation
As Marketing managers know, not all customers are equal. Customer segmentation allows marketers to subdivide their market into distinct homogenous segments that share similar characteristics. This can be a powerful means to identify unmet customer needs.
Customer Segmentation helps companies prioritize its marketing campaigns. Customer Segmentation is most effective when a company tailors offerings to segments that are the most profitable and serves them with distinct competitive advantages. This prioritization can help companies develop marketing campaigns and pricing strategies to extract maximum value from both high- and low-profit customers.
The goal of customer segmentation is to develop marketing action programs that lead to measurable increase in profitability, retention rate, wallet-share, cross-sales, up-sales or referrals.
An actionable segment is one that has the following three characteristics:
Effective segmentation requires marketing insights, analytical skills, and data management expertise. There are a variety of approaches to segmentation: ranging from simple, intuitive, hypotheses-driven approach, through behavioral segmentations schemes such as RFM to complex data-driven, statistical segmentation such as clustering or factor analysis. LatentView combines business understanding with deep analytical and data management expertise to work with your marketing team to help you create actionable segmentation schemes for effective customer management.
Customer Management
Customer SegmentationActionable Segmentation
As Marketing managers know, not all customers are equal. Customer segmentation allows marketers to subdivide their market into distinct homogenous segments that share similar characteristics. This can be a powerful means to identify unmet customer needs.
Customer Segmentation helps companies prioritize its marketing campaigns. Customer Segmentation is most effective when a company tailors offerings to segments that are the most profitable and serves them with distinct competitive advantages. This prioritization can help companies develop marketing campaigns and pricing strategies to extract maximum value from both high- and low-profit customers.
The goal of customer segmentation is to develop marketing action programs that lead to measurable increase in profitability, retention rate, wallet-share, cross-sales, up-sales or referrals.
An actionable segment is one that has the following three characteristics:
Contains definable characteristics in terms of demographics and behavior. E.g.: Day traders in the age group of 25 – 30 with a propensity to take risks, families with young children, etc. B2B business clients are segmented using SIC codes, annual sales, and no. of employees.
Large enough to justify a focused marketing strategy.
Has customers who can be persuaded to change their behavior in ways that are profitable for your company.
Effective segmentation requires marketing insights, analytical skills, and data management expertise. There are a variety of approaches to segmentation: ranging from simple, intuitive, hypotheses-driven approach, through behavioral segmentations schemes such as RFM to complex data-driven, statistical segmentation such as clustering or factor analysis. LatentView combines business understanding with deep analytical and data management expertise to work with your marketing team to help you create actionable segmentation schemes for effective customer management.
