Epsilon ’s Research reveals a staggering 80% of buyers lean towards repeating in brands investing in tailored experiences.
Email campaigns featuring personalized content can lead to an astronomical 760% increase in revenue, as reported by Campaign Monitor.
One of the iconic brands, Nike , regards its 'Sneakhead' strategy as a game-changer, crafting exclusive releases and content tailored for a specific customer group.
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Ever wondered how your favorite shows magically appear on Netflix ? Around 75-80% of content watched on the platform is thanks to their recommendation engine.
And now, let us introduce the key player behind all the mentioned facts and the first puzzle piece in our Retention Journey: Customer Segmentation
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The core of Customer Segmentation
Customer Segmentation, in technical terms, is the strategic process of breaking down a broad target market into manageable segments based on specific characteristics. Businesses typically use a combination of factors for segmentation depending on their objectives:
âž– Demographic: Age, gender, income, education, and occupation.
âž– Geographic: State, city, and neighbourhood classification.
âž– Psychographic: Lifestyles, interests, values, and attitudes.
âž– Behavioral: Buying patterns, product usage, post-purchase engagement, & loyalty.
âž– Need-Based: Based on customers’ product requirements.
âž– Technographic: Considering mobile/desktop usage and app versions.
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We can employ a multitude of techniques to cluster our audiences — from the classic Recency Frequency Monetary (RFM) analysis to the more sophisticated unsupervised algorithms
Discover synergies with us, If you're looking to build or Invest in similar space we would love to chat. Connect with us at contact@evernile.com