VALUE-BASED CUSTOMER SEGMENTATION AND CAMPAIGN OPTIMIZATION


Value-Based Customer Segmentation is the practice of dividing customers into segments based on their shopping behaviors, spending amounts, loyalties and transaction timings. Since it enables separating especially the high and low value creating customer groups, it is one of the most widely used and admired segmentation methods.

 

All companies claiming to create customer value should ask the following to themselves:
Can we get higher value from our customers? • Do we analyze the shopping behaviors of our customers?
Do we have VIP customers? Are we aware of them, if any? Do they feel like VIPs?
Do we optimize our campaigns  to maximize customer value? 

If all the answers are 'No', how can customer segmentation help you?

 

Companies may use marketing resources effectively and efficiently by targeting the right customer groups, maximize revenue obtained from their customers with methods like cross-selling and up-selling.
Value-Based Customer Segmentation helps you develop more focused strategies for customer retention. For example, you may want to identify your top paying customers and come up with special offers for them. Or you may want to contact people, who are not making purchases for a while.
Numerous studies argue that consumers report disappointment from brands that don't offer good customer experience. And the bigger issue is that almost half of these unsatisfied customers often share their opinions on social media. This may damage your brand reputation and reliability. Thus, offering a fabulous customer experience should be your top priority. You can solve this issue by using a Value-Based Customer Segmentation model. You can create different customer segments based on personal choices and shape your communication form based on this segmentation.
Value-Based Customer Segmentation also makes your campaigns more efficient. Small things like personalized product offers, discounts or reminders based on wish lists may create big differences.

 

How do we build a Value-Based Customer Segmentation model?
Understand the needs and expectations of customers through customer surveys, observations and focus group studies besides analyzing the value created for the company
Identifying customer and consumer segments
Defining segment values and target segments
Creating segment profiles (detailed data on shopping habits, preferences, needs and lifestyles)
Developing strategies for segment-based sales, marketing, product development, pricing etc.
Identifying key customer criteria and setting key customer management approaches

Consulta helps its clients set the most effective Value-Based Customer Segmentation model for themselves. We have a highly skilled customer experience team and expert statistical analysts.

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