Customer Segmentation - Discover who's shopping with you, and who isn’t.And how to reach them.
Understanding your customers better, understanding your business better, is critical as you face growing customer expectations in a changing business environment full of complexity.
Understanding internal data, and information from various external sources is essential - you need to know the numbers, trends and correlations, all of which will aid in better decision making. As a result, you know your customers better allowing for greater for retention and new acquisition.
iVise can help you with this vital analytical process. Below is an example of some of the analytics work we do, in this case in the world of Customer Segmentation.
Retail customers can be very anonymous, Even with a loyalty programme it is hard to get close to them, to understand their habits and interests, spend in category, or what percentage of that spend you are getting.
To stay ahead of the game in today's competitive environment, you need the best insight into what is happening in your marketplace. You need timely, reliable data directly relevant to your business and in an easily absorbed format.
When clients first see our analysis reports on their customers they are often surprised at who is actually shopping with them, and who isn't.
Our data analysts use anonymised banking and survey data to segment your customers and your competitors' by their spending profile, as well as their demographic. When you know which segments of the population your business or a given store is over-or under-indexed for as compared to the country as a whole or the store catchment area, you can determine valuable market segments and locations to target and how best to reach them, unearths trends and even create new products and services. Our data analytics practice enables our clients to make informed market predictions that affect company strategy and then measure the resultant impact within the target market segments.
Insight into consumer customer profiles include the following information:
Quickly identify the best store locations, product mix and marketing opportunities
Summary: Customer Segmentation
Our customer segmentation process allows Large Retail organisations to quickly identify the best store locations, product mix and marketing opportunities and to act on that knowledge with confidence, because they build up insight over time as they measure the impact of each marketing decision on their target market segments.
We do not need any of your own data, but can incorporate it e.g. for product mix, to enhance your understanding.