We don't normally share posts from other blogs, however this article resonated well with us.
Andy Hasselwander wrote a post regarding the word segmentation. It has to be one of the most over used buzz words in business today. We consider this one of those words users throw around when they are overwhelmed with customer data.
Andy does a good job outlining the process businesses should go through to define the type of segmentation they need. Additionally, he states the problems with trying to segment customers by every element (value, product, creative, promotion, channel, targeting) is impossible in one uber-model. However, who says you can only have one segmentation model?
Often we find that sophisticated customers need more than one model. The process for defining the model is the same. Yet different groups require a unique view of the customer base.
Kudos to Andy for a well written post and thoughtful view on segmentation.
As our list of customers increase, we are seeing a diverse need for analytics. However, the methods employed are similar across industries and objectives.
One of our most popular services in modeling and scoring. Whether the methods are used in marketing, pharma, or research, it is the same.
Most recently we've helped a midsized company spend their marketing dollars more efficiently. Identifying customers that are similar to an organizations best customers. Once identified, the company focuses marketing dollars on potential and existing customers that exhibit those same qualities.
Give the return on investment, this is a no-brainer. It's cost effective and good for business. If you are in any of the industries listed above and could benefit from modeling and scoring, please give us the opportunity to provide value.