Segmentation analysis gives you a better understanding of your target customer base, allowing you to develop the most effective, and personalized, marketing and innovation strategies. Brands that explore and analyze many different customer attributes (behavioral, socioeconomic, product usage etc.) when defining target segments realize the most potential for maximizing profit and growth.
A successful segmentation approach adapted to today’s rapidly evolving marketplace is key to maintaining a competitive advantage. Read how Google used segmentation to drive new thinking about who plays mobile games.
The SKIM segmentation solution utilizes advanced analytics and data fusion techniques to allow brands to better identify customers’ evolving preferences. We aggregate multiple data sets, such as survey and client data, for more robust and actionable recommendations. We have successfully applied a powerful segmentation success criteria in CPG and Tech verticals which will help your segments:
- Differentiation – To be different from each other
- Right to Win – To have a right to win in the segment (i.e. has brand ownership of key category performance indicators of the segment)
- Sufficiency (size) – To be able to reach financial objectives
- Reachability – To be easily identified and reached by different media vehicles and platforms
Equipped with these insights, you can improve product development and innovation strategies by truly satisfying the distinct needs of your customers. You can also optimize value propositions and improve messaging and pricing for new or existing products and services by uncovering different customer preferences.
Understanding the needs of specific customer groups, we can answer questions like:
- How do I identify groups of customers with different needs and preferences?
- How is my brand, product or service perceived differently from competitors, from a messaging and/or price perspective?
- How do I create more cost-efficient marketing activities that improve ROI?
- How have my customer’s preferences and product/service needs evolved?
What you can expect from the SKIM segmentation solution
In collaboration with you, our analytics experts will develop a customized research approach that best addresses your specific business objective and addresses how the segments will be used. The segmentation insights will be distinct, based on the chosen variables, easily manageable (not too many or too few segments) and actionable for sales and marketing efforts.
The SKIM segmentation solution can include everything from the size and profile of segments, to identification and tagging tools for your customer database and workshops to socialize with internal stakeholders.
SKIM Segmentation – Examples of client deliverables
How does SKIM’s Segmentation Solution work?
Our team will consult and collaborate with you to identify your main business objectives, including how you intend to use the segments. Next we’ll develop a customized research solution by identifying the main variables required for a successful segmentation. These variables can include behaviors, attitudes, demographics or any combination, depending on your business issues. Finally, we will utilize an advanced methodological toolkit that applies multiple machine learning approaches to all variables to create a robust, flexible, actionable research solution.
Curious about the research methodology behind segmentation? Take a deeper dive here