customer segmentation
At XYZdirect the goal of customer segmentation is to know your customers better, and to use that knowledge to enhance our clients profitability.
Effective segmentation drives revenue growth through increased ability to meet customers' demands. Segmentation's greatest impact is on the top line, growing the number of customers, the amount of sales per customer, and the lifetime value of the customer. But it can also have a hand in the cost side, in aligning costs -- to more economically serve each customer segment. In short, segmentation impacts customer profitability, which impacts corporate profitability.
Allowing your customer to buy a product or service that you provide from your competitor is a missed opportunity - but it needn't be that way.
Understanding the needs of your customers is key to maximizing their current and potential value. If the majority of your customers are 'Happy Wanderers', it's time to find out who they are and turn them into 'Satisfied Stayers'.
Check out our segmentation approach here |
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