Get an in-depth overview of 10 different approaches to behavioral segmentation (including both B2B and B2C examples) that can be used to better understand your customers and maximize results at every stage of the customer journey.
Knowing who your customers are is great, but knowing how they behave is even better. -Jon Miller
Customer segmentation has always been important. But now that personalization and customer experience are make-or-break factors for business success today, effective segmentation is an absolute must. Understanding what customer experience is and how to best go about it in a positive way is essential, especially when it comes to a business’s net promoter score which is important for any organization that wants to ensure that its customers are getting the best assistance available, that is why effective customer segmentation has been looked at in terms of positive business outcomes and what that will mean for future growth.
To segment customers into specific groups, you might need to collect necessary data with the help of companies such as Epsilon. When examining different methods of data collection, research surveys tend to be one of the most effective methods to obtain data regarding customer preferences, demographics, purchasing patterns and other distinct factors. Businesses go about Selecting survey methods that would be most beneficial in obtaining this data. Additionally, businesses can conduct interviews, use existing customer data, or conduct focus groups to collect information. Having collected enough data, they can begin segmenting the customers.
However, according to a recent Forrester report, only 33% of companies using customer segmentation say they find it significantly impactful. According to the report, the main reason companies fail is that they are still using traditional customer segmentation approaches without leveraging the breadth of customer data and advanced analytics techniques available today.
Moreover, customer segmentation can benefit in many ways, especially when it comes to customer satisfaction. It can aid in adopting the perfect technology for your business that can ease the consumer experience. For instance, you can explore artificial intelligence for contact centers that can assist clients with your products and other services through automated chats, reviews, feedback on agent communications, etc. AI can also reduce human errors and effortlessly be trained to understand the working and functions of your business.
In other words, they are not using a modern behavioral segmentation approach.
In this post I’ll bring you up to speed with an in-depth overview of 10 different approaches to behavioral segmentation (including both B2B and B2C examples) that can be used to better understand your customers and maximize results at every stage of the customer journey.