Customer Segmentation & Strategy
Customer segmentation lays the foundation for competitive advantage and improved profit margins
The different characteristics and behaviors of customers should be known and used for resource allocation and improved customer intimacy.
"One-fits-all" customer focus is wasteful and won't meet the customers real needs. Mapping customers into buying behavior and value concepts allows to craft the right resource allocation strategy, marketing mix service models.
Customer segmentation maps visualize the customer universe with the varying customer characteristics and needs.
When the entire organization is aware of the specific customer requirements and services that should be applied per segment the customer focus increases exponentially while economics improve.
Know and manage the customer engagement and retention value. Investments into a customer relation should be transparent to be in control of the economic value of customer-seller interactions.
Knowing both the customer characteristics through segmentation and the value of the customer relation enables the organization to select the most suitable conditions as a strategy.
Resources and expertise can be spent in a very targeted fashion and the future engagement can be much better planned and executed.