In our experience, many senior executives across different industries agree that segmentation is key for marketing but they find that effective execution of segmentation is rare. Most often segmentation either become too complex to execute or too simplistic to be accurate. Why this apparent contradiction?
In our experience most of the traditional segmentation techniques and expectations are very misaligned with current business needs of digital economy. Significant improvements have been made in analytical capabilities (included computing power, Storage capabilities and costs) and platforms in last 10 years as well as in the amount & type of data available to companies. But often the segmentation techniques or algorithms that are followed have not matched up with this progress. Many companies are still stuck with traditional static segmentation schemes using few focus groups or anecdotal data.
Our dynamic segmentation algorithms and technique provide an elegant solution to these issues. By having a dynamic segmentation schema, our clients are not only been able to more accurately identify the variances across the segments but also been able to execute upon these variances to drive incremental growth in revenues and profitability. Our segmentation methodology provides a robust platform to meet the current needs of digital age. Old clichés of segmentation are non-actionable and only add to confusion – “own the customer”, “fully serve the customers”. In current environment – most companies will get serve better if they understand the “particular need” they fulfill for which segment and when….at the same time allowing the customers to dynamically move between different segments profiles depending on situation and context.
Please contact us to learn more about how our Strategic and Actionable Segmentation methodologies and techniques could assist you in meeting your business objectives.