Taking a whole gamut of heterogeneous visitors and expecting them to behave in a similar fashion is not a smart strategy. The good performance of certain segments will be dampened by the poor ones; resulting in average returns, almost always. Consumer behavior varies from person to person and hence their traits need to be identified and made a part of your business plan.
The Nabler Edge
Customer segmentation process followed at Nabler
- Optimal Segmentation: It would be a customer's delight to get personalized services but it may not always be a feasible business solution. Hence, it is important to understand when not to segment further. We use optimization techniques to create the most efficient segments to the point where business margins are maximized.
- Parametric Consideration: With years of experience we have learnt the various parameters that customers need to be segmented by. From the usual ones like demographics, AOV, spend, channel, etc., to a bit off-beat ones like customer reviews and feedbacks, cohorts, social media engagement, and more.
- Targeted Marketing: With the defined segments, we identify the nature of targeting to be done for each through testing and predictive analytics methods. This gives an upper hand to our customers.
What do you get?
Advanced statistically-backed segmentation methods have been tested and proven to give significantly better returns. It gives customers a sense of personalization and enhances loyalty, which is essential in the era of cut-throat competition. At the same time, effective segmentation provides greater returns to your business with a more focused approach in every aspect, be it marketing, merchandizing, or sales. It creates a win-win situation for both — the customers and the business.