How do you build Customer Segmentation?
Typically telecom companies telecall and give offers of call rates to regions where a subscriber may have seldom called. Now if you noticed, they have the transaction history of where all the customer called. Hence it will be apt to focus on giving solutions/services to the customer that he/she requires. In a nutshell use the customer data to service the customer better.
Taking a cue from the above examples, assuming you have build your CRM database of your customers. You could segment the customer on the following simple patterns to start
- Usage of your particular products/services
- Geography ( like India, Australia, USA, …..)
- Industry Segment(like Manufacturing, IT, ITES ….)
- Engagement Score. ( few crm like vtiger offer this – i.e based on the email click, reply, open ) . So less engagement score customers can be one segment to improve your touch points
- Gold/Silver/Bronze Customer based on life time value of the customers
The Golden rule says: “Do unto others as you would have others do unto you.” However, the Platinum Rule is:
“Do unto others as they would have you do unto them”
read this blog to know more on this: Is your behavior style affecting your relationships?
In a nutshell the recommendation will be to communicate to your segment list on information that is useful to them, instead of sending generic communications.[platinum rule]. Assuming you will now ask this question to yourself and form a communication strategy to the segment list.
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