Weekly Round-up: A Storyboard on the Benefits of Customer Segmentation Strategies
LONDON: Infiniti Research, a leading market intelligence solutions provider, has announced the release of their new storyboard on customer segmentation analysis and on how it has helped organizations enhance customer experience and retain the profitable customer segments. Lack of target market segmentation can cause diffused go-to-market and product development strategies, that can hamper a company’s [...]READ MORE >>
LONDON: Infiniti Research, a leading market intelligence solutions provider, has announced the release of their new storyboard on customer segmentation analysis and on how it has helped organizations enhance customer experience and retain the profitable customer segments.
Lack of target market segmentation can cause diffused go-to-market and product development strategies, that can hamper a company’s ability to fully engage with its target segments. This can ultimately impede a company’s growth. Don’t you agree? This is where a customer segmentation strategy comes to the rescue. Customer segmentation strategy helps businesses to streamline their marketing effort and tailor product offerings to meet the needs of each segment.
Infiniti’s segmentation solutions have helped several companies to make strategic business decisions and thereby boost their revenue. Below we have summarized some of the recent success and have highlighted the ways in which our solutions have helped businesses enhance service offerings and customer experience.
#1: Enhancing customer retention rate by 20%: Without a deep understanding of how a company’s current customers are segmented, allocating and spending the capital resources efficiently are challenging tasks for businesses. Are you finding it challenging too? Customer segmentation strategies can help as it helped one of Infiniti’s banking industry client. The client approached Infiniti Research to leverage customer segmentation analysis to profile customers and thereby maximize the cross-selling and up-selling opportunities. Infiniti’s solution helped the client to proportionately allocate resources to target individual customers and enhanced customer retention rate by 20%.
#2: Key customer segmentation challenges to avoid: By identifying the similarities of the demographics through consumer segmentation studies, it is possible to develop a more effective marketing strategy that better serves consumer needs. But, even though consumer segmentation is a pervasive marketing strategy, it is important to be aware of its shortcomings. In this blog, we’ve listed out the common customer segmentation challenges many companies face through segmenting their audience and the methods to tackle them.
#3: Customer segmentation models that every marketer should consider: With the entry of new players in the market, the companies are facing difficulties to establish themselves. This has compelled companies to leverage new techniques and marketing strategies to withstand the rising competition. Customer segmentation strategy helps businesses to segment the customers into various groups and eventually enhance the profit margin and customer experience. Read through this blog to know the top customer segmentation models that every marketer should consider while segmenting customers.
#4: Customer segmentation strategy enhanced brand reach for a chemical supplier: Customer segmentation strategies can help your business better define the target customers, identify the segments that those customers belong to, and improve overall organizational focus. This success story from Infiniti Research explains how a chemical supplier was able to establish and maintain better relationships with the end-users and identify the most profitable segments to adjust their marketing budgets with our solutions.
#5: Enhancing customer satisfaction by 10% with customer segmentation strategies: Over the years, the banking industry has started facing extraordinary challenges regarding strict government regulations and the arrival of disruptive models and technologies. Hence, major companies in the private banking industry have started concentrating on developing new strategies for sustainable growth. Similarly, a renowned private banking firm wanted to define and target the best prospects and adequately allocate resources to improve customer interaction and engagement. Our solutions helped the company to meet the relentless demands of the customers and subsequently improved customer satisfaction level by 10%.
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#6: Why customer segmentation is a key to marketing? In this customer-oriented world, the right customer segmentation can help businesses determine the most valuable customers and build marketing campaigns that suit them. In the long run, this will improve your brand loyalty and increase customer engagement. This success story from Infiniti Research describes how a leading transportation services provider was able to achieve these goals with our customer segmentation analysis.
#7: Identifying demographics with high growth potential: This success story from Infiniti Research explains how a cardiac pacemaker manufacturer identified the most profitable segments and addressed the concerns pertaining to customer attrition and customer retention capabilities. Also, know how the cardiac pacemaker manufacturer was further able to segment customers into different groups with similar needs and maximize their ROI.
#8: Analyzing customer behavior and enhancing profitability with customer segmentation strategy: In today’s customer-centric business world, an automotive industry player realized that, by dividing customers into different groups that share similar needs, the company can market to each group differently, making marketing and customer care more organized and targeted. This success story describes how the client was able to develop focused marketing strategies and devise an effective go-to-market approach with customer segmentation strategies.
#9: Realizing savings of 13% in 12 months with customer segmentation strategy: The shrinking customer base results in fewer sales, which finally leads to a direct loss of revenue. So, is your business equipped to confront the rising challenges and enhance the customer experience? If not, our customer segmentation analysis can help. Our customer segmentation solutions helped a food industry company identify their customer’s needs and better serve the target audience. Additionally, with Infiniti’s customer segmentation strategies, the client was able to make necessary adjustments in its marketing initiative, which further improved the company’s profit margin by 13% in just 12 months.
#10: Profiling the most ideal customers for an IT services provider: Segmenting customers and tailoring products and services for the respective segments might sound complex. But you need not worry if you have proper customer segmentation strategy in place. A leading IT services provider was dealing with similar predicament but experienced a significant change in their business outcome by leveraging Infiniti’s customer segmentation solutions. These solutions helped them to understand the relative strengths and weaknesses of key competitors in the market and develop robust marketing strategies. Altogether, with our customer segmentation strategies, the client was able to streamline their product positioning strategy based on the potential opportunities and align products with the target segments.
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