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Customer Segmentation

Why is Customer Segmentation the First Step to Growth and Success for Businesses? Customer Intelligence Experts Discuss

Introduction to Customer Segmentation

With the rising population, growing economies, rapid urbanization, and digitization, companies’ approach to sales, marketing, and product development have transformed to a great extent. Businesses have shifted their strategies to be more consumer-centric and driven toward ensuring customer satisfaction and loyalty. As competition increases, so does the need to attract and retain customers while maintaining mutually beneficial and healthy consumer relationships. These evolving business needs have led to the need for customer segmentation processes across industries.

Customer segmentation is categorizing consumers as per various parameters that may be geographic, demographic, or behavioral. These categories also vary based on the business models of businesses. For instance, B2B business models prefer to categorize their clients on factors such as industry, location, and workforce size. Whereas, in B2C companies, customers are classified according to factors including age, gender, spending behaviors, and value to the brand.

This process has proven highly effective and useful for various departments and functions within companies. It enables targeted marketing initiatives, helps develop well-received products, and improve the value of various customer-centric investments. Leveraging customer segmentation solutions help companies enhance sales, increase customer attraction and retention rates, and maintain healthy consumer relationships. In this article, Infiniti’s customer intelligence experts discuss the significant benefits of customer segmentation in various departments of businesses.

Struggling to engage, attract, and retain customers? Request a free proposal to learn how Infiniti’s customer segmentation solutions can help your business identify and target the ideal customer base for your offerings.

The Benefits of Customer Segmentation

Customer Segmentation

Improved Marketing Initiatives

Segmentation of customers helps marketing teams identify their target consumers and invest in developing efficient, targeted marketing initiatives. In a highly competitive market, ensuring that your business identifies and addresses consumers’ needs better than competitors can be a significant differentiator. Additionally, consumers are more likely to engage with content relevant to their personal needs, demands, and preferences. By identifying consumers’ needs, Infiniti’s customer segmentation solutions help businesses develop improved and targeted marketing initiatives and increase conversion rates with quality leads.

A business requires a strong and loyal customer base to scale and succeed. To learn how Infiniti’s customer segmentation solutions can help your business attain loyal customers, request more information.

Data-Driven Product Development

Developing a novel product that addresses target consumers’ needs can be highly challenging in a rapidly evolving market. Therefore, segmentation of customers and a comprehensive understanding of consumers’ unmet needs, gaps in the market, and particular demographic preferences help businesses develop unique products that address consumers’ demands. A data-driven product development process combined with targeted marketing translates into a successful product launch, improved customer relations, and higher consumer satisfaction. Infiniti’s customer segmentation solutions help businesses developed personalized products and services and reduce ineffective investments.

Increase in ROI

Lastly, customer segmentation enables quality over quantity. Personalized offerings and targeted marketing initiatives lead to acquiring and retaining high-quality leads, increased customer loyalty, and stable growth. While the process requires streamlining the target audience and losing a wider customer base, it enables improved approaches with a higher chance of converting into fruitful transactions or contracts. Targeted marketing initiatives with higher returns lead to a significant ROI and helps businesses maintain a well-informed marketing budget. Additionally, companies avoid investing in the research, development, and launch of products that fail to meet revenue expectations or improve customer attraction and retention. Infiniti’s customer segmentation solutions have helped businesses across industries determine an improved marketing budget, conduct an efficient product development process, and realize significant savings.

Speak with our experts to leverage our expertise in enabling targeted marketing initiatives, data-driven product development, and improved ROI with customer segmentation solutions.

automobile manufacturing

An Automaker Attracted 300+ New Customers and Increased Sales by 37% in Six Months with Market Intelligence Engagement

Automobile Manufacturing Market Overview

Rising automation, digitalization, and evolving business models have revolutionized various industries, and the automobile manufacturing sector is hardly an exception. However, the automobile manufacturing industry is not completely free of challenges. Companies in the automobile manufacturing market are facing challenges in terms of vehicle customization, which consequently increases the cost of integrating new technologies to meet the requirements of end-users. In addition, regulatory bodies are raising the standard on safety, fuel efficiency, and emissions, which also demands to adopt technological advancements. To succeed in the long-run, automobile marketers will need to take advantage of several trends in the automobile manufacturing industry that presents significant new opportunities.

As the automobile industry is continuing to witness massive transformations, automakers need to adjust their strategies to thrive in the new environment. Our market intelligence solution can help you keep pace with market transformations and evolve rapidly. RFP for more insights.

Business Challenge

The client, an automobile manufacturing company based out of Denmark, encountered a seasonal dip in sales, which subsequently impacted their overall profit margins. Also, with increasing competition, the client has to engage in price wars, which subsequently impacted profits and market share. In addition, the auto dealer struggled to find the right areas within their market to promote their vehicles. Hence, they wanted to standardize marketing technologies, streamline communications, and enhance customer experience and retention. They chose to partner with Infiniti Research to leverage their expertise in offering marketing services.

By collaborating with Infiniti Research, the automobile manufacturing market client wanted to identify elements of their marketing campaigns that are most successful and revamp traditional marketing initiatives to improve sales. In addition, the automobile manufacturing market client wanted to understand how to connect with their target audiences and identify tactics and channels to focus on to drive customer awareness and leads.

Want to attract new customers and drive sales? Our marketing services can help. Contact us here.

Our Integrated Approach

As a part of Infiniti’s market intelligence engagement, the experts prepared a robust discussion guide, comprising of both qualitative and quantitative questions to gain insights about marketing initiatives from the top automobile manufacturing companies. Additionally, an extensive database was generated by Infiniti Research team through primary and secondary research.

Besides, the experts selected smaller representative audiences and conducted demo campaigns across all the channels. By efficiently gauging the campaign results, they helped the client to analyze the areas where the client lacked and performed well in comparison to their competitors.

Results Obtained

Infiniti’s market intelligence engagement helped the client to create highly targeted online and offline tactics to engage with their customers. This helped the client to increase brand visibility, develop lasting relationships with customers, improve lead generation, and build trust with current customers and prospects.

By identifying the most effective marketing channels, the client was able to focus on creating campaigns that delivered the desired impact. By gathering comprehensive insights into their customers’ needs and requirements, the automobile manufacturing market client was able to personalize marketing approaches for them and drive customer engagement. Besides, the client was able to develop robust marketing campaigns that resonated with their target audience. The client also gained insights into ways to position their products in the marketplace and generate better ROI.

By standardizing marketing technologies and streamlining communications, the automobile manufacturing market client was able to attract 300+ new customers in six months and enhance sales by 37%.

Want to know more about our services for companies in the automobile manufacturing market? Request more info here

Online healthcare service

An Online Healthcare Service Provider Achieved 15X Increase in Leads by Leveraging Marketing Services Engagement

Online Healthcare Services Market Overview

According to a new study by the healthcare market research experts at Infiniti Research, the global online healthcare services market is expected to witness positive growth through 2022 owing to the rising government initiatives to promote online healthcare services. Additionally, rising demand for remote monitoring services, penetration of smartphones and other mobile apps, and the rise in the number of health apps are some of the major factors propelling the growth of the online healthcare services market. However, as the world of healthcare is evolving, marketing is becoming more challenging than ever. To compete in today’s customer-centric industry, online healthcare service providers are in the need to look to digital marketing solutions to enhance reach, personalize messaging, integrate channels, and drive patient engagement.

Are you looking to maximize your lead conversions? Our marketing services engagement can help you narrow your efforts and target the right audience. RFP for more insights.

Business Challenge

An online healthcare services provider in the US, that helps women with fertility issues, relied solely on standalone marketing and web applications to drive patient engagement. However, with increasingly diverse customer base, the online healthcare service provider was finding it difficult to reach out to target customers with their traditional marketing techniques. They wanted to standardize marketing technologies, streamline communications, and enhance customer experience and retention. In addition, they wanted to expand into the digital marketing space. They chose to partner with Infiniti Research to leverage their expertise in offering marketing solutions.

Other key challenges that the online healthcare service provider wanted to tackle by leveraging Infiniti’s marketing solutions were:

Transition from traditional to digital marketing: The online healthcare service provider wanted to revamp their traditional marketing model and integrate highly targeted online and offline tactics to engage with their patients.

Leveraging digital marketing on a tight budget: As the company witnessed huge losses in marketing budget on unprofitable initiatives, they had budget constraints. The online healthcare service provider, therefore, wanted to achieve better results from digital marketing campaigns by testing their effectiveness on smaller representative audiences.

Health Insurance Portability and Accountability Act (HIPAA) marketing limitations: As HIPAA restricted healthcare marketers from using certain tools, such as remarketing ads, in order to safeguard users’ confidential health data, the client had major limitations to marketing. The online healthcare services market client, therefore, wanted to thoroughly understand the policies and regulations in their target regions and strategies their initiatives accordingly.

Personalizing marketing initiatives: With Infiniti’s solution, they wanted to understand the needs, preferences, values, behavior, and demographics of consumer segments in their target market and devise marketing approaches accordingly.

Online healthcare service providers continue to lag behind when it comes communicating about the products and services they offer. Are you facing similar challenges? If yes, our marketing services solutions can help you to reach out to the right set of patients. Contact us today!

Our Integrated Approach

To help the online healthcare service provider tackle the above-mentioned challenges, a robust discussion guide was prepared in consultation with the client. The guide comprised of both qualitative and quantitative questions to gain insights about marketing initiatives from the top online healthcare service providers. Besides, an extensive database was generated by Infiniti Research team through secondary research.

As a part of the marketing services engagement, the experts selected smaller representative audiences and conducted demo campaigns across all the channels. By efficiently gauging the results, they helped the client to focus on creating campaigns that delivered the desired impact. The experts also helped the client to gather relevant insights into the HIPAA privacy rule and recommended solutions to customize goal-based-budget for marketing.

By gathering comprehensive insights into their patient’ needs and requirements, the online healthcare service provider was able to personalize marketing approaches for them and drive patient engagement.

Results Obtained

With Infiniti’s marketing services solution, the client was able to focus more into innovative marketing approaches, which helped them streamline communication and enhance customer experience. Also, by expanding into the digital marketing space, they were able to attract 250+ new customers in six months. Besides, the client was able to integrate highly targeted online and offline tactics to engage with their patients.

By undertaking the right marketing initiatives, they were able to save huge on their marketing budget. In addition, by understanding the restrictions of HIPAA, they were able to act accordingly and safeguard users’ confidential health data.

Infiniti’s marketing services engagement also helped the client to achieve 20% increase in profits and 15X increase in leads.

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Want to gather more insights into our services for companies in the online healthcare service market? Request more info here!

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