With the proliferating marketing platforms today, customer segmentation analysis has become a pre-requisite for businesses to boost sales, reduce attrition, and improve prospect and customer experience. Also, around 70% of CMOs agree that customer segmentation analysis is extremely valuable in providing a great customer experience.
By segmenting customers into various groups that share similar needs, organizations can devise personalized marketing strategies for each group differently and focus on all customer needs at any given time, making marketing and customer care more organized and targeted.
Infiniti’s customer segmentation analysis solutions have helped several Fortune 500 companies devise customized approaches that satisfy the needs of different customer groups and drive customer loyalty and profitability.
Below, we have summarized some of Infiniti’s success stories that highlight how customer segmentation analysis has helped companies to gain a leading edge in today’s competitive marketplace.
Elevating Sales by 17% for a German Retailer with Customer Segmentation Analysis
With a multitude of choices available for customers in the retail industry, developing a robust marketing strategy to target specific customer segments is becoming important in the retail industry. Don’t you agree? This success story is an excellent example of this. A retail company was finding it difficult to segregate the customers in terms of need-based and value-based segments in the German market. Also, they faced issues in managing attrition rate and acquiring new customers. They were looking for a market research firm to help them in segmenting customers based on their value for the brand.
Infiniti’s market intelligence experts helped the client to devise a sound commercialization strategy to effectively engage customers and enhance customer retention. Also, our retail customer segmentation analysis engagement helped the client to elevate sales rate by 17% within a year.
Worldwide e-commerce growth is on the rise, and it has placed immense pressure on fashion retailers to differentiate themselves and provide superior shopping experiences in-store. However, to devise personalized marketing approaches, businesses require a thorough understanding of their customers and their needs. This is where the real benefit of leveraging customer segmentation analysis comes into play.
Customer segmentation analysis can help in dealing with such issues efficiently. This is clearly evident in this success story where the client, a fashion retailer, was facing similar predicaments. The company also encountered a substantial reduction in the number of frequent and repeat buyers.
Infiniti’s customer segmentation analysis solutions helped them to develop a well-aligned business plan to deliver sustained growth and empowered them to break through the cluttered market space with a unique and convincing proposition. Moreover, they were able to improve their wallet share and increase their overall revenue by 20%.
Enhancing Customer Retention Rate by 20% with Customer Segmentation Analysis
In the increasingly fast-paced banking industry, companies need to constantly evaluate the market and expand their offerings. Also, there is immense pressure to improve profitability and customer experience while adapting to the disruption caused by rising FinTech companies.
Our client, a banking company based out of the United States was facing the same dilemma. As such, they were looking for a research firm that could do an independent analysis of potential investment opportunities and provide detailed insights into their customers. Additionally, they wanted to segregate their customers based on their geography, psychography, and behaviors into separate groups and devise customized marketing approaches to gain maximum traction.
Our experts adopted a comprehensive three-phased approach to help the client develop a new customer segmentation approach and predict the future value of customers for the brand. Also, Infiniti’s solution helped the client to analyze the key drivers of customer satisfaction and devise suitable strategies to counter the decline in sales. In addition, they were able to enhance customer retention rate by 20%.
Retaining the Most Lucrative Customer Segments with Customer Segmentation Analysis Approach
Identify and implementing appropriate customer segmentation strategy models to profile and retain valuable customers seems to be challenging for businesses. This is where a custom market research service provider like Infiniti Research can make your work easier, as it did for a transportation services provider. The company wanted to devise a value-based approach to define their best prospects in the market. Moreover, they wanted to profile and target lucrative customer segments and avoid bottlenecks pertaining to the delivery of products.
With Infiniti’s customer segmentation analysis solution, they were able to profile customers into various segments and tailor marketing efforts for them. Furthermore, our customer segmentation analysis approach helped the client to devise a value-based approach to retain the most profitable customers.
