A well-known market intelligence company, Infiniti Research, has announced the completion of their recent article on the perks of using customer segmentation analysis in retail. This blog discusses why customer segmentation analysis is essential for retailers and how they can benefit from it.
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Benefits of customer segmentation analysis in retail. (Graphic: Business Wire)
Retail companies are increasingly focusing on developing highly personalized customer experiences. Today, customers expect brands to understand their individual needs and provide an exceptional customer experience. To achieve this, retail companies must shift from the one-size-fits-all approach to a more personalized approach in order to cater to different customer needs. This is where the role of customer segmentation analysis comes into play.
Infiniti’s customer intelligence solutions combine the best data gathering approaches to identify the most profitable customer segments, measure the effectiveness of a marketing campaign, assess changes in customer expectations, and devise value maximization strategies to enhance their shares. Request a free proposal to know more about our customer intelligence solutions.
Benefits of customer segmentation analysis in retail
Marketing and customer services can be made effective with the help of customer segmentation analysis which gives retailers comprehensive insights about different customer groups. Not every shopper expects the same things from a brand. Without a customer segmentation model that identifies the needs of customers more accurately, retailers often struggle to meet customer expectations.
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Collecting smarter data
Customer segmentation analysis not only helps retailers gain a better understanding of their customers, but it also helps them evaluate their own performance. Different metrics relating to marketing campaigns, sales, and other incentive programs can be broken down into segments based on the customers’ transactional data. When grouped into different segments, customers’ spending history can be used to understand the strengths and weaknesses of the marketing campaign and business model. Moreover, customer segmentation analysis also provides retailers with a better idea of who buys what, which can be used when expanding products or adding new merchandise.
Enhancing marketing campaigns
Customer segmentation analysis helps in enhancing the marketing campaigns of retail companies. By tracking different customer groups, retailers can analyze different variables that will help them determine ways to attract new customers, build brand loyalty, and create awareness around specific products.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us