Customer Scoring and Segmentation

Description

Customer Segmentation Analytics

Organizing customers into distinct groups known as segments can provide numerous benefits. Through customer segmentation, organizations can improve profitability while increasing customer satisfaction. Examples of customer segmentation uses include:

• Cross sell and up sell – Identify groups of customers who are likely to respond to cross sell and up sell offers
• Increased Retention – Identify customers in high attrition segments and take proactive steps to retain customers
• Focus Marketing Campaigns – Modify marketing campaigns to reach the right audience with the right offer at the right time, through the right channel.
• Mitigate Risk – Identify groups of customers who are likely to engage in harmful activity such as fraud or excess warranty claims.
• Strategy – Focus strategies to address the needs of each customer segment.

Challenges of Customer Segmentation Analytics

Customer segmentation can be challenging. First, a customer segmentation strategy is needed – determining which segmentation approaches should be pursued. Next, actionable segments must be determined based on the right input factors. In addition, segments must be fair and ethical which avoid discrimination by ethnicity, sexual preference, etc. Segments must be differentiated from each other to support different treatment. Finally, segments must be kept up to date to avoid becoming stale.

Customer Segmentation Solutions

InfoGoal can provide solutions to these challenges and more:

• Segmentation Strategy and Management – Manage a repository of customer scoring and segmentation models.
• Geodemographic Segmentation – Segment based on factors such as: age, gender, marital status, education level, income level and geographic location.
• Behavior Segmentation – Group customers based on their actions as customers revealing intent to buy, brand loyalty and
• Recency, Frequency Monetary (RFM) Segmentation – Classify customers by how recently and often they buy and amount spent.
• Suspicious Activity Segmentation – Identity possible bad actors.
• Job to Be Done Segmentation – Group customers based on their goals such as ordering or researching a product.

Tell us about your Customer Segmentation Project

Consider these questions:

1.What business are you in?

2.Who are your target customers?

3.What opportunities and challenges do you want to address?

4.Describe your current data sources.

5.What methods do you use to segment your customers?

Customer Segmentation Project Framework

Your project will be implemented using a proven and effective customer analytics framework. This framework builds on the steps of CRISP-DM (Cross Industry Standard Process-Data Mining) combined with the Infogoal Customer Model and a library of accelerators which produce faster and more effective results.