Can you afford to let your customers self-select? Do you know how to specifically target your most valuable customers - the segment which has an identified need that your product solves, with the lowest overheads and smallest opportunity for churn?
It is common to focus on the people who engage with you - the people who visit your website, the people who click on your adverts, the people whom your sales team reaches most easily.
Though what happens if you were given the tools and support to evaluate customers throughout your business, holistically understanding more than your cost per acquisition, but average lifetime value considering total cost to service customer.
Building valuable segments means something different for every organisation: maybe you're a SaaS product which balances Cost of Acquisition in month 12. Wouldn't it be nice to prioritise customers who are ideally placed for offering professional services - ideal for reducing your break-even point?
Alternatively, imagine you have a retail business. Wouldn't it be great to build a customer base which consistently orders high value, easily deliverable, products?
We help you understand, acquire and forecast the success of getting customers in high-value segments - and then predict where you'll find similar segments across any locale, market or channel.
The first stage in this process is understanding needs in the marketplace - known as segmentation analysis. These segments are then made more tangible through personas - visions of the typical characteristics in a segment.
Of course, no two people are the same, but personas are a useful tool in understanding what a typical person in any given segment might fear, love, act and do. More importantly, this gives you a foundation to build upon as your customers’ expectations and needs change over time.
After identifying segments, the next stage is understanding their size - understanding whether they are large enough, developed enough, and valuable enough to target.
Segmentation analysis makes all the difference between spreading yourself too thinly, and getting the best results from constrained time and resources. After all - you don't need to make everyone your customer - just those people who will help you sustainably grow your business.