Fundamentals and advanced concepts in customer segmentation. CLV (customer lifetime value) and specific implications in Telecoms. Approaches in operational deployment of customer segmentation.
Why Pricing, data & customer segmentation are relevant for insurance (partly ...Jerry J. Stam
Why Pricing, data & customer segmentation are relevant for insurance (partly Dutch). Lessons shared from retailers and how insurers would benefit if they applied (some of) them
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This webinar, recorded in September with SPTF, covers the design and delivery of customer segmentation work. Included are example cases from CGAP's work, sharings by webinar participants, and a preview of CGAP's forthcoming Customer Segmentation Toolkit. The webinar recording is available at https://youtu.be/RJfthuKif80
Fundamentals and advanced concepts in customer segmentation. CLV (customer lifetime value) and specific implications in Telecoms. Approaches in operational deployment of customer segmentation.
Why Pricing, data & customer segmentation are relevant for insurance (partly ...Jerry J. Stam
Why Pricing, data & customer segmentation are relevant for insurance (partly Dutch). Lessons shared from retailers and how insurers would benefit if they applied (some of) them
Customer Segmentation: Design and Delivery (Webinar)CGAP
This webinar, recorded in September with SPTF, covers the design and delivery of customer segmentation work. Included are example cases from CGAP's work, sharings by webinar participants, and a preview of CGAP's forthcoming Customer Segmentation Toolkit. The webinar recording is available at https://youtu.be/RJfthuKif80
Customer segmentation is a Project on Machine learning that is developed by using Clustering & clustering is the technique that comes under unsupervised learning of machine learning.
Segmentation allows prospects based on their wants and needs. It allows identifying the most valuable customer segment so the basis of it vender improve their return on marketing investment by only targeting those likely to be your best customer.
Banking Consumers: 5 Core Segments and How to Reach ThemCognizant
How can financial institutions grow profitable customer relationships? Given the twin pressures of recent regulatory changes coupled with a lower rate environment, our research sought to answer the central question.
The Changing Nature of the Customer Relationshipmichellereape
This paper explores considerations on how to harness the power of the customer relationship on the front lines to power our clients’ competitive edge through to their bottom line
How to Create a Customer Segmentation ModelMark Haubert
Are your sales and marketing teams focused on the right customers? Learn how to define your Ideal Customer Criteria, create a Customer Segmentation Model, identify your Key Accounts and focus your teams on customers with the greatest potential for growth.
Customer Segmentation Using Portfolio Optimization for B2B MarketsMd Mazedul Islam Khan
The aim of the project is to contribute to the development of the modern approach of customer segmentation using portfolio analysis for B2B markets specifically for Bangladesh in a most efficient way using a modern tool (i.e. CRM).
A suggestion for the developer in Bangladesh b2b markets.
If it's going to work, you need to involve people outside the marketing function. Actually, you have a change management project on your hands. See why.
Please credit the author if you use the material. Some images are subject to copyright.
Working, Sharing, Communicating, Learning and Teaching with others Guus van den Brekel
Taskforce Web 2.0 EAHIL
Working, Sharing, Communicating, Learning and Teaching with others : the use of Web 2.0 tools for EAHIL Council, Board and Members.
http://tw2eahil.blogspot.com
Customer segmentation is a Project on Machine learning that is developed by using Clustering & clustering is the technique that comes under unsupervised learning of machine learning.
Segmentation allows prospects based on their wants and needs. It allows identifying the most valuable customer segment so the basis of it vender improve their return on marketing investment by only targeting those likely to be your best customer.
Banking Consumers: 5 Core Segments and How to Reach ThemCognizant
How can financial institutions grow profitable customer relationships? Given the twin pressures of recent regulatory changes coupled with a lower rate environment, our research sought to answer the central question.
The Changing Nature of the Customer Relationshipmichellereape
This paper explores considerations on how to harness the power of the customer relationship on the front lines to power our clients’ competitive edge through to their bottom line
How to Create a Customer Segmentation ModelMark Haubert
Are your sales and marketing teams focused on the right customers? Learn how to define your Ideal Customer Criteria, create a Customer Segmentation Model, identify your Key Accounts and focus your teams on customers with the greatest potential for growth.
Customer Segmentation Using Portfolio Optimization for B2B MarketsMd Mazedul Islam Khan
The aim of the project is to contribute to the development of the modern approach of customer segmentation using portfolio analysis for B2B markets specifically for Bangladesh in a most efficient way using a modern tool (i.e. CRM).
A suggestion for the developer in Bangladesh b2b markets.
If it's going to work, you need to involve people outside the marketing function. Actually, you have a change management project on your hands. See why.
Please credit the author if you use the material. Some images are subject to copyright.
Working, Sharing, Communicating, Learning and Teaching with others Guus van den Brekel
Taskforce Web 2.0 EAHIL
Working, Sharing, Communicating, Learning and Teaching with others : the use of Web 2.0 tools for EAHIL Council, Board and Members.
http://tw2eahil.blogspot.com
Mass Portfolio Customisation and the Unique Investor - Financial SimplicityStuart Holdsworth
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Emerging markets already offer a wide range of business opportunities
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Leading the entire organization according to priorities of customers. What it is and what it isn’t –
and why it works successfully.
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50 Innovative Business Models: The Keys to Entrepreneurial Success
As the world continues its fast-paced evolution, entrepreneurs need more than just a robust product or service to gain the upper hand in the market. It’s all about setting yourself apart, and this is where innovative business models come into play.
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Innovation is crucial in dynamic, modern business environments. An innovative business model not only helps distinguish your enterprise from competitors but also adapts to changing market trends and customer needs.
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Success in entrepreneurship is often hinged upon the uniqueness and effectiveness of the business strategy adopted. By challenging conventional business practices and venturing into innovative models, entrepreneurs stand a chance to attain unparalleled success.
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Online Business Models (50 Battle-Tested Ways To Make $1000 Online)
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Disruptive technologies, such as artificial intelligence (AI), blockchain, cloud computing, and others, are drastically altering traditional business models. Here’s how:
IJRET : International Journal of Research in Engineering and Technology is an international peer reviewed, online journal published by eSAT Publishing House for the enhancement of research in various disciplines of Engineering and Technology. The aim and scope of the journal is to provide an academic medium and an important reference for the advancement and dissemination of research results that support high-level learning, teaching and research in the fields of Engineering and Technology. We bring together Scientists, Academician, Field Engineers, Scholars and Students of related fields of Engineering and Technology.
What is a business model and how fulfill a business model canvas. Some example of wellknown companies business model: Coca Cola (glass bottle!), Financial Times, LinkedIn, Groupon, Twitter, Facebook, Blockbuster and Google.
Finally community business model (geographically based, professional and online communities) and what is a business plan and how is diverse from a business model.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
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Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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3. The Industrial Revolution and early 20th century technology progress meant rapid expansion of the scales of
production and distribution, the economies of scale dictated developing m a s s m a r k e t s , addressing their needs
with m a s s p r o d u c t i o n and communicating with the end users via m a s s m e d i a .
Mass production depended on standardisation and standard products had to be designed around a ‘common
denominator’, statistical averages of the parameters, usage patterns and preferences of multitudes of users. There
were always a minority of customers for whom standard products were not appropriate, and a mass‐market business
was unable to satisfy their niche needs. Smaller players could offer tailored products, but without the economies of
scale, they were only affordable to the wealthiest among the population.
In the race to grow market share, and the resultant fierce competition, companies discovered that product attributes
are no longer a differentiator (standard products), and neither could be price (already reaching the viable bottom).
Customer relationships were (re) discovered as a powerful differentiator towards the end of the 20th century (The
Customer relationships were (re) discovered as a powerful differentiator towards the end of the 20 century (The
term ‘relationship marketing’ was first used in the 80‐s). In the 90‐s visionaries like D. Peppers and M. Rogers (with
their historic book ‘The 1to1 Future’, 1993) set the foundations of what later became the ‘CRM movement’.
It took more than a decade, however, to convince a meaningful proportion of business leaders worldwide in the
advantages and benefits of the customer‐centric business model. Surprisingly, long after it became a mainstream
discipline, some companies still remain product‐centric or focused on price competition.
3
5. The key principles of CRM (customer centricity) involve
‐ Clear differentiation (customer segmentation) as a recognition that human individuals are all different and their
differences have to be respected. Even corporate (B2B) customers are different: as organizations, and as decision‐
making individuals, and can be segmented along clear criteria.
‐ It is important to understand the difference between m a r k e t segmentation (macro‐segmentation of large
anonymous masses), and c u s t o m e r segmentation (differentiation among a company’s own real customers,
whereby each one can be assigned to a specific segment). Customer segmentation is done by the main dimensions of
value and needs, mutually dependent economic categories, whereby a number of other attributes (demographics,
behaviours, lifestyles etc) are only proxies (interim indicators) for the assessment of one or the other of the
value/needs pair.
‐ Knowing the differences between customers is ntoenough; a company must have the right processes and
capabilities inplace to differentiate the treatment of customers according to such knowledge.
‐ A key objective of a customer‐centric company is the building and strengthening of long‐term, profitable (mutually
A key objective of a customer centric company is the building and strengthening of long term, profitable (mutually
beneficial) relationships with customers.
‐ As customers become recognised as individuals and intimately known, it becomes possible to differentiate to the
level of individual customer and offer personalised treatment, personalised products and services, build a one‐to‐one
relationship.
‐ It should never be forgotten that all efforts to differentiate customers, satisfy their needs and build long
relationships, must translate into s h a r e h o l d e r v a l u e i.e. there should be explicit positive financial outcomes from
the strategy and customer‐centric operations.
‐ Practiced in the traditional small business for centuries, the customer‐centric business model only recently became
possible at large corporations dealing with millions of customers, thanks to the technology revolution. Powerful
computing systems, data storage, manipulation and analysis, and intelligent communications technologies enable the
full implementation of the model on a large scale. An entire class of IT (ITC) solutions emerged under the label ’CRM’,
encompassing a number of platforms and applications that automate different aspects of customer management. It is
important, while recognising technology as an e n a b l e r , not to overestimate its importance and not to limit ‘CRM’
efforts to software deployment.
5
8. Key evolution steps in the C, the R and the M of CRM.
Customers are now seen in a more complex way, as any and all stakeholder entities have relationships with the
business.
The Relationships, from one to one (in CRM 1.0) are becoming many to many. This makes exclusivity impossible and
The Relationships, from one‐to‐one (in CRM 1.0) are becoming many‐to‐many. This makes exclusivity impossible and
instead of the cherished l o y a l t y one can now observe a growing promiscuity ( satisfying a need form a variety of
providers). This changes the focus of companies from seeking m a r k e t s h a r e towards s h a r e o f c u s t o m e r , i.e.
the depth of the relationship and degree to which we are able to meet their needs. The financial aspect of the
relationship is no longer measured (only) as ROI, but increasingly as Return on Customer (ROC, as described in the
eponymous book by Peppers and Rogers, 2004).
The Management part is characterised with dynamic micro‐segmentation (as opposed to just segmentation at 1.0),
reflecting the granular nature of the interconnected economy and the Long Tail phenomenon. The below‐the‐line
reflecting the granular nature of the interconnected economy and the Long Tail phenomenon The below the line
(direct) marketing is now utilising network effects by seeking viral distribution of messages. The customer‐oriented
product management is becoming co‐creation, and the value chains include customers and other stakeholders in a
channel partner role, in addition to other overlapping stakeholder roles.
8
9. How these trends manifest themselves in today’s business reality?
‐ After ‘boomers’, X and Y generations, for the first time a ‘generation’ is not determined by age (or any
demographic), but by their interest in c o n t e n t . They constantly seek and consume large amounts of content, but
they also act as distributors by sharing content and increasingly as content p r o v i d e r s by active contribution to the
user‐generated content platforms (YouTube, Flickr etc)
‐The example of a viral SMS campaign by a mobile operator, which distributed free jokes until they were forwarded to
sufficient number of people to be addressed directly with an attractive offer ‐ invisible below the noisy mass media,
and below the competitors’ radar.
‐ Generation C, it turns out is no longer happy to just share content: they increasingly seek material reward and profit
form content creation and/or distribution. Some platforms and companies offer them a chance to sell their content;
others sell it on their behalf and share the revenue.
‐ In his book ‘The Long Tail’ Chris Anderson describes the phenomenon where the mass demand for a small number of
In his book The Long Tail Chris Anderson describes the phenomenon where the mass demand for a small number of
products (peak of a ‘bell’ curve) is outstripped by a vast number of tiny market segments with niche needs (the long
‘tail’ of the curve). Companies that are prepared to deliver such niche solutions are tapping on enormous
opportunities.
‐ The decade is marked with rapid convergence of telecommunications technologies and channels (fixed with mobile,
voice with data, telephony with Internet). Telecoms as a whole is rapidly converging with broadcast media. User‐end
devices are now hard to define: is it a phone, or a TV, or a computer?...
‐ The less visible convergence, however, with much more significant historic importance is that of stakeholder
entities. The possibility that a customer is also an employee (by working in the virtual ‘production department’, co‐
creating content or even a physical product) and even the possibility (still difficult for many to assimilate) that a
customer can also be an owner of the business (‘investomer’) ‐ such possibilities are the beginning of a new economic
era. Having its roots in ancient communes, in more recent cooperative movements and (failed) communist societies,
the model is made a lot more viable through the empowering technologies which also bring the ability to measure
relationships and maintain accountability. The most recent events (governments responding to the financial crisis)
may be another indicator of this trend.
9
12. Customer centricity evolution has no discrete phases or ‘quantum leaps’ (the 2.0 term was used throughout this
presentation as a slightly humorous reference to the ‘Web 2.0’ hype). Qualities and capabilities build up in a
cumulative way: which means old(er) capabilities are never abandoned. For this reason every company on the path to
new levels should continue developing its fundamental capabilities: improve its segmentation, its end‐to‐end
customer processes, organisation design, performance metrics and technology platforms. New elements are just
added to the blueprint, but building continues uninterrupted.
added to the blueprint but building continues uninterrupted
One easy step is to carefully review the company’s m u l t i ‐ c h a n n e l c o m m u n i c a t i o n s t r a t e g y (have you got
one?) and add to the matrix any number of s o c i a l m e d i a as channels. These can be community sites and forums,
blogs, viral mechanisms ‐ over any of the converging physical channels.
For effective use of social media it is very important to enhance the customer intelligence (analytics) capabilities with
social network analysis (SNA). This hybrid of mathematics and sociology, apart form an academic discipline, is already
social network analysis (SNA). This hybrid of mathematics and sociology, apart form an academic discipline, is already
a recognised and increasingly popular business subject and skill (as well as emerging software class). This will enable
the practitioners to differentiate on the attribute of ‘connectedness’ and target a minority of highly influential
community members who can spread the messages with reach and authority.
You can start engaging customers in the co‐creation processes around product improvement and new product design,
in some sectors even in direct product creation (production). Or, you may consider engaging them in marketing by
asking them to refer friends and relatives, or to spread messages. Building customer communities provides a great
opportunity to enhance your customer service operations with user‐provided help in forums, wiki FAQ pages etc. The
opportunity to enhance your customer service operations with user provided help in forums wiki FAQ pages etc The
more daring among you may even consider experimenting with new business models whereby the customer is also
an investor.
If you succeed in making customers ‘work for the company’, never underestimate the importance of closing the value
loop: always reward them for their contribution, in transparent and proportionate ways.
In a fast‐moving environment innovation is a key differentiator. Best practice should be studied and adopted, but you
In a fast moving environment innovation is a key differentiator Best practice should be studied and adopted but you
are strongly encouraged to b e t h e b e s t p r a c t i c e , lead in innovation by doing things first in your market or (why
not?) in the world. Brave experiments, however, should always be aligned with a clear strategy and contribute to
progress along a pre‐designed roadmap.
12