Customer Segmentation for Retention StrategyMelody Ucros
IE Business School
Marketing Intelligence Project by Group F:
Melody Ucros
Jina Kim
Andrea Blasioli
Adedeji Rodemade
Fergus Buckey
Alex Kyalo
Louis Rampignon
Data Source: http://archive.ics.uci.edu/ml/datasets/online+retail
Customer segmentation is the process of dividing customers into groups based on common characteristics so companies can market to each group effectively and appropriately.
Segmentation allows marketers to better tailor their marketing efforts to various audience subsets. Those efforts can relate to both communications and product development. Specifically, segmentation helps a company:
Create and communicate targeted marketing messages that will resonate with specific groups of customers, but not with others (who will receive messages tailored to their needs and interests, instead).
Select the best communication channel for the segment, which might be email, social media posts, radio advertising, or another approach, depending on the segment.
Identify ways to improve products or new product or service opportunities.
Establish better customer relationships.
Test pricing options.
Focus on the most profitable customers.
Improve customer service.
Upsell and cross-sell other products and services.
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 for Retention StrategyMelody Ucros
IE Business School
Marketing Intelligence Project by Group F:
Melody Ucros
Jina Kim
Andrea Blasioli
Adedeji Rodemade
Fergus Buckey
Alex Kyalo
Louis Rampignon
Data Source: http://archive.ics.uci.edu/ml/datasets/online+retail
Customer segmentation is the process of dividing customers into groups based on common characteristics so companies can market to each group effectively and appropriately.
Segmentation allows marketers to better tailor their marketing efforts to various audience subsets. Those efforts can relate to both communications and product development. Specifically, segmentation helps a company:
Create and communicate targeted marketing messages that will resonate with specific groups of customers, but not with others (who will receive messages tailored to their needs and interests, instead).
Select the best communication channel for the segment, which might be email, social media posts, radio advertising, or another approach, depending on the segment.
Identify ways to improve products or new product or service opportunities.
Establish better customer relationships.
Test pricing options.
Focus on the most profitable customers.
Improve customer service.
Upsell and cross-sell other products and services.
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
Chadwick Martin Bailey’s Brant Cruz and Jeff McKenna presented best practices of market segmentation based on their years of experience working with clients like eBay, Electronic Arts, Plantronics, and Microsoft.
Fundamentals and advanced concepts in customer segmentation. CLV (customer lifetime value) and specific implications in Telecoms. Approaches in operational deployment of customer segmentation.
Efficient customer segmentation in Google Analytics (Blueffect 2013 Warsaw, Poland) - examples and best practices of accurate data analysis and advanced segmentation principles in order to improve revenues of your business.
- What makes you wrongly evaluate marketing campaigns: do you know, what is the real conversion rate of your website?
- How to prioritize content sections of an e-commerce website.
- What customer segments and cohorts are useful.
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
The House of Marketing, Belgium's first centre of marketing expertise, shows you an introduction and short guide to customer segmentation, including four options and simple steps to deliver measurable benefits through segmentation. Contact: www.thom.eu
Digital segmentation - An Introduction to Customer SegmentationJames Wedge
This paper is an introduction to customer segmentation.
It goes through the basics of segmentation, explaining
what it is, why you should use segmentation in your digital
marketing and in the wider context of multi-channel
marketing. It will describe the types of segmentation you can
use with your data and some of the practical applications of
segmenting your audiences.
Customer Segmentation In eCommerce (11 Used Cases)Pawan Kumar
Segmentation helps you to categorize your subscribers/customers in the small groups with same interests and preferences. It gives you an idea of sending relevant content. But how to do it?
Here are some practical cases of customer segmentation in eCommerce. Let’s dive right in:
"A strong market orientation does not occurs by mere proclamation. To attain a strong orientation, a business needs to adopt a market-based management philosophy. This means implementing a process for tracking market performance and restructuring an organization around market rather than products or factories and creating employee culture that is responsive to customers and changing market condition." -Robert J. Best
Chadwick Martin Bailey’s Brant Cruz and Jeff McKenna presented best practices of market segmentation based on their years of experience working with clients like eBay, Electronic Arts, Plantronics, and Microsoft.
Fundamentals and advanced concepts in customer segmentation. CLV (customer lifetime value) and specific implications in Telecoms. Approaches in operational deployment of customer segmentation.
Efficient customer segmentation in Google Analytics (Blueffect 2013 Warsaw, Poland) - examples and best practices of accurate data analysis and advanced segmentation principles in order to improve revenues of your business.
- What makes you wrongly evaluate marketing campaigns: do you know, what is the real conversion rate of your website?
- How to prioritize content sections of an e-commerce website.
- What customer segments and cohorts are useful.
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
The House of Marketing, Belgium's first centre of marketing expertise, shows you an introduction and short guide to customer segmentation, including four options and simple steps to deliver measurable benefits through segmentation. Contact: www.thom.eu
Digital segmentation - An Introduction to Customer SegmentationJames Wedge
This paper is an introduction to customer segmentation.
It goes through the basics of segmentation, explaining
what it is, why you should use segmentation in your digital
marketing and in the wider context of multi-channel
marketing. It will describe the types of segmentation you can
use with your data and some of the practical applications of
segmenting your audiences.
Customer Segmentation In eCommerce (11 Used Cases)Pawan Kumar
Segmentation helps you to categorize your subscribers/customers in the small groups with same interests and preferences. It gives you an idea of sending relevant content. But how to do it?
Here are some practical cases of customer segmentation in eCommerce. Let’s dive right in:
"A strong market orientation does not occurs by mere proclamation. To attain a strong orientation, a business needs to adopt a market-based management philosophy. This means implementing a process for tracking market performance and restructuring an organization around market rather than products or factories and creating employee culture that is responsive to customers and changing market condition." -Robert J. Best
iDirect is the confluence of digital and direct marketing. It is interactive, information-driven, insightful, innovative and iterative. This presentation highlights the imperative for iDirect and its 4 fundamental tenets.
Accenture: Multichannel Attribution Dec 2012Brian Crotty
Anticipating consumers’ every move to conversion is essential to realizing a strong return on marketing investment (MROI), yet, pervasive methods for understanding consumer behaviors fall short in a multichannel environment.
In the digital world, channel savvy, highly mobile, multiple device-happy consumers are in control. While they move from one media channel to another—and from one device to another—companies across industries are struggling to keep pace.
Anticipating consumers’ every move to conversion—and measuring every interaction across every channel—is essential to realizing a strong MROI and to sustaining competitive differentiation. Yet, pervasive methods for understanding consumer behaviors fall short in a multichannel environment.
As such, various attribution models and approaches have emerged to help businesses better capture and analyze consumers’ purchase journeys across both offline and online channels. Though a singular approach for measuring consumer data has yet to emerge, multichannel attribution holds exciting promise.
December 6, 2012
2011 Pharma Brand Champions Will Possess Six Key Marketing Skills AdvanceMarketWoRx LLC
In our ever-changing media landscape, coupled with increasingly powerful ePatient communities, a demand for new standards has arisen. As a result, Pharma [and in reality all marketers] must accelerate their skills in six key areas to separate their marketing communications, and become brand champions. Originally published in DTC Perspectives, March 2011.
What is marketing & why invest.
Knowing your customer and how to reach them
B2B – marketing to consumers – why bother?
Creativity and responsiveness – how and why?
Measurement and tracking – how to maximise the ROI
Re-marketing – what, why and how
PLUS Blippa technology from Sphere Digital
Acxiom presentation to Forrester Marketing Forum Nov 2009Tim Suther
Acxiom presentation to Forrester Marketing Forum London Nov 2009. Identifies key steps to dramatically improved marketing & advertising. Contains many examples
Tough Times Don’t Last But Tough Competitors Do
Forrester EMEA Marketing Forum
November 18th, 2009
http://www.forrester.com/events/eventdetail/0,9179,2424,00.html?sTab=agenda
Half of all ad spend is wasted. Marketers are under pressure to produce results, often times with fewer resources and greater expectations. Join Tim Suther’s discussion of core principles that transcend macroeconomic condition and enable tough, high-performance marketing and advertising.
Using real-world examples Suther will move the discussion from vision to practical, deployable ideas that demonstrate the utility of these core principles, allowing your message to be heard: the “new black”, data; optimization and the 360 degree view of your consumer; Confluence of insight and media; accountability in execution. This construct enables direct marketing sensibility in your marketing processes and campaigns, creating staying power during the tough times and competitive advantage during the good times.
Many of the UK’s biggest brands understand that accessible websites and apps are good for business, but too many people treat it as a bolt-on – As well as facing legal threats organisations could be missing out on a market that is estimated at £250bn.
In this recent webinar participants heard from AbilityNet, our Accessibility Partner, as they laid out the business case for making sure that your website and apps can be used by every customer.
The session was delivered by Robin Christopherson MBE, who has been a global expert in accessibility for 20 years and regularly speaks at international tech events. He used examples to show how inclusive design can boost revenue, deliver financial savings, improve your brand and reduce legal risks. He’ll also explained how accessible apps and websites can improve the experience for every single one of your mobile users – whether they have a disability or not. He was also joined by his colleague Mark Walker. Mark AbilityNet’s Head of Marketing and Communications and has been involved in digital inclusion for 25 years.
The webinar consists of a 30-minute presentation followed by a 20 minute interactive Q&A.
The National Digital Conference 2016 (ND16) took place on Wednesday 15 June. It brought together more than 350 cross-sector industry leaders, and included 20 speakers, half of which were women. The theme of the conference was building the Nation's Digital DNA, see the full programme at: www.nd16.co.uk
The National Digital Conference 2016 (ND16) took place on Wednesday 15 June. It brought together more than 350 cross-sector industry leaders, and included 20 speakers, half of which were women. The theme of the conference was building the Nation's Digital DNA, see the full programme at: www.nd16.co.uk
The National Digital Conference 2016 (ND16) took place on Wednesday 15 June. It brought together more than 350 cross-sector industry leaders, and included 20 speakers, half of which were women. The theme of the conference was building the Nation's Digital DNA, see the full programme at: www.nd16.co.uk
The National Digital Conference 2016 (ND16) took place on Wednesday 15 June. It brought together more than 350 cross-sector industry leaders, and included 20 speakers, half of which were women. The theme of the conference was building the Nation's Digital DNA, see the full programme at: www.nd16.co.uk
The National Digital Conference 2016 (ND16) took place on Wednesday 15 June. It brought together more than 350 cross-sector industry leaders, and included 20 speakers, half of which were women. The theme of the conference was building the Nation's Digital DNA, see the full programme at: www.nd16.co.uk
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
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3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
2. A Road to winning in the market….
The World
is Changing
Competing
to win
How does
it work?
3. 64% of adults say that technology has
changed the way they communicate
19 Million subscribers 23.9 Million residential fixed
76% of adults with broadband, with landlines
5.1 m mobile have broadband
subscriptions 92% of adults own /use a mobile,
while 15% are mobile only homes
Average actual speeds are 7.6 Mbit/s
33.1 Million mobile subscribers in the
Two thirds of internet users have UK of which 51% have PAYG mobiles
accessed Facebook
Every month 200 text messages are
48% of adults have a social network sent per customer per mobile
profile, while 39% use their mobile to
access the internet Tablet ownership has jumped from 2%
to 11% in 12 months
Digital TV is in 96% of UK homes, totalling 60 million TVs with 40% being HD
People aged 4+ are watching 242 minutes (4 hours) of TV per day
47% of homes have DVR
5. “Keeping in touch” with customers is becoming
more and more difficult and costly
Customers are harder to target Customers are harder to satisfy
… middle ground is growing
… proliferation of urban lifestyle … shifting from traditional to more
experiential criteria
… immigration is increasing
… rising expectations
… stressed and compressed for time
Customers are harder to predict Customers are harder to reach
… new multi-channel shopping
… harder to define
… more complex to target due
… eclectic shopping behaviors to media fragmentation
… shopping values are shifting … bombarded by information
and choices
Traditional Marketing approach becomes more and more ineffective. We are
looking for new ways to gain a competitor advantage.
6. And the race for the customer is
changing every day…
Things used to be quite simple…. most of this is still true, except...
behaviour is changing ….
what was once targeted to specific activities…
is now highly customisable always on, always connected blank
canvas …
7. And as social media & mobile devices
become the norm the volume of data is
growing exponentially
• So we‟re halfway through building our
new Marketing Database to meet this
growing demand
• A „single source‟ of the truth for
campaigning, analytics and customer
reporting
• Scaled solution but delivered in
bitesized chunks
• A genuine customer centric model
not 3 brands
But we won’t win prizes by just creating a technically brilliant
database..
We need to Exploit, Exploit, Exploit!
8. We are improving our customer intelligence ...
CAMPAIGN
PERFORMANCE
Who bought which
products? What
advertising or
campaign could have
impact the
response?
PRICING IMPACTS PREDICTIVE
ANALYTICS How can we optimise
Are they sensitive to campaign spend
price ? Can we What will happen
change their next?
behaviour to make
them more What impact will our
profitable? CUSTOMER activities have?
SEGMENTATION
What is the customer
like? What are their
needs? What are the
best journys &
SOCIAL NETWORK treatments? LOYALTY
ANALYSIS INSIGHT
Common calling Who are your most
patterns for a specific loyal customers?
customers? Why? How do they
The customer role in utilise our products
calling circles? or purchase? What
drives them?
Confidentiality level on slide master
Version number on slide master
9. And shifting the way we use & deliver
insight…
• Loyalty Insight: New data sources have • Self-Service insight at Product
improved our understanding of customer Managers finger-tips.
loyalty leading to a reduction in churn
• Targeting: Combining online data has led • Efficiencies: We has reduced campaign
to improved loyalty campaigns with delivery times by 25% and started to
greater relevance to customers create “joined-up” messaging across
• Better Value: A greater understanding of channels to create a consistent
our customers, their needs and experience
behaviour helped us launch new
initiatives
10. Defining the right Segment strategies to
drive growth
Basic Strategy
Retain and Educate
Strategy Ideas Treatment Ideas
• Offer discounts for mobile calls to
Marketing other networks for “High Value‟ users
• Actively retain highest value
on a special occasion (e.g. reaching a
customers with optimal price plan
certain Airtime, their birthday)
offers
• Offer free TV content download on
• Educate them about the simplicity
Fridays – “Stay in” night
and convenience of one provider for
Description mobile, BB & TV
• Target young users with
entertainment deals using low cost
Customer Service marketing (e.g. email, My Account
• Our loyal customers
• Faster routing and simple and friendly and text )
communication in CS & Tech
• No high tech talk, but intentional
education on simple service
• Offer online self service
Products Quick Win Campaigns
Propensity • Flexible price plans with “controlled”
bill • Retain customers with trial offers of
• Priority product is TV boosts • Advanced convenience services e.g. new mobile devices or TV boost
Engineer available within 24 • Trial “Stay in” night
hours, online self help
• “Eat all you can” Package that you
can flex
11. We are STILL on a journey to drive
analytics and data transformation across
the business
•Senior Sponsorship
•Clear vision & strategy for Marketing CRM
•Address People, systems and processes
•Communication & Engagement with stakeholders, partners &
technology
•Outstanding people in analytics
•Being outcome based... Act on what we learn credibility
•But most importantly, having an appetite to embrace data and
insight ...
12. Key Learning’s
• Change is constant, be prepared for a rollercoaster of a ride
• Culture change & complexity
• Get into the operating model – people, process and technologies
• Leverage suppliers, partners, scale and best practices
• Be passionate and persistent
0
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Jun-12
Feb-11
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Feb-12
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Oct-10
BH Throughput - forecast MBB Throughput - forecast
Editor's Notes
The business context• Building the capability• Applying the data to deliver value• Where next?
Research compared companies across industries and found that companies that invested in data & advanced analytics capabilities significantlyoutpeformed the market. S&P500 companies who invested outperformed competition by 64% and have moved quicker out if economic downturns.
Video on social media
Data + Insight (forward looking not just measuring the effect of what happened) + Engage your customer = value
Data + Insight (forward looking not just measuring the effect of what happened) + Engage your customer = valueUNICA Campaign deployment creating 25% improvement in campaign delivery efficienciesSelf-service capability for our stakeholders