|
Customer Segmentation
Creating an Actionable Customer Segmentation Framework
Global competitive pressures and rapid pace of change in the markets have put maximising profits from existing customers at the centre of business strategy. It is not only about retaining your existing customers, the more critical issue for banks today is understanding customer level profitability and how to influence it through timely interventions. Having a consistent understanding of customer level profitability and an actionable customer segmentation strategy are keys to implementing a successful CRM framework.
NettPositive will consolidate data from enterprise databases, transaction systems and third party providers to create a ‘high definition' view of the customer. We will then apply advanced statistical techniques and perform targeted segmentation to propose a segmentation framework for your business. This will help you in understanding issues like:
- What are the characteristics of the most and least profitable customers?
- What are the key drivers of segment profitability?
- What is the product ownership of each segment and common sequences of product adoption?
- Which behavioural patterns trigger customers to attrite?
- What is the value at stake in each of the segments and what should be the intervention strategy for each segment to maximize return?
- What are the channel preferences of the segments?
To know more please contact powering.decisions@nettpositive.com
|
