Segmentation is not a new
marketing trend; it is a customer-oriented philosophy and is consistent with
modern marketing concept. It is an accepted fact that markets are not
homogeneous. Consumers differ in their needs and also the manner in which it
has to be satisfied. Using the data attained, the consumer market is divided
into segments. Data segmentation allows you to communicate with a relevant and
targeted message to each segment identified. By segmenting your data, you will
be able to identify different levels of your customer database and allow
messaging to be tailored and sophisticated to suit your target market.
Are you fretful about…
·
Increasing
firm-wide productivity?
·
Increasing
revenues from prevailing customers?
·
Getting bang
for your marketing buck?
·
Getting
better customer satisfaction scores?
·
Developing a
consistent understanding of your customer?
·
Understanding
customer lifetime worth?
·
Figuring out
your most valuable customers?
·
Setting a
framework for consistent growth?
·
Focusing on each
and every employee’s activity to create customer value?
It is high time you explore your database and
make the most of it right now. Let us see how you can do it…
Database – Most valuable marketing asset
To understand the prominence of your database
for your marketing, let’s take this example. A husband visits a jewelry store
to purchase jewelry for his wife on their wedding anniversary. During this
visit, he indicates some of his wife’s general preferences – for example, she
prefers white gold, she likes jewelry that integrates opal, and her birthstone.
As a sales representative you can also ask him the date of his anniversary.
Finally, as a part of the checkout process, you collect his contact
information. Once this visit is complete, your database record for this
customer includes what he purchased, price of the product, his anniversary
date, comments regarding his wife’s general preferences, his contact details,
and a date in which you would like to follow-up with the customer.
Why this information?
You can send him an email thanking him for
buying from you, and include a discount coupon for future purpose.
· Request for
a feedback
·
You can
follow up after a few weeks for occasions like Valentine’s Day
·
Send a
personalized email with items his wife would be interested
·
Recommend
him special offers based on his previous budgets
·
Keep
following and know more about the customer
#1 Tidbit:
Every single customer knocking at your door
represents a lifetime of purchases. If you are not making a strenuous effort to
stay in touch with the customers once they buy from you and leave the store,
you are definitely missing a golden opportunity to market to someone who is
already familiar with your offerings.
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