Customer Targeting & Segmentation
Effective CRM strategy is all about targeting the right customers with the right message at the right time in the right place. This requires careful analysis and planning to identify:
- who are the right customers?
- what they need to hear to buy your product?
- when they will be in the market?
- which channels you need to use to reach them effectively?
The right customers are those that are potentially high value as opposed to low value. With some judicious data analysis, it is relatively easy to identify which prospects are likely to turn into profitable customers.
Having identified these high value customers, they can then be profiled. Segmentation and targeting models can be built to ensure that the marketing and advertising campaigns are concentrated on the best customer prospects.
Campaign testing and response analysis
Campaign testing and response analysis are the best means by which to identify those messages and executions that are most appealing to the consumer and drive the best results. Test response rates by channel will also determine the optimal channel mix for the various campaigns. And by combining these insights with the ‘high value’ learnings, not only is high volume response achieved, but high value response as well.