Customer Segmentation Analytics
The key to converting your audiences into valued customers is reaching them at the right place, at the right time, with the right message. Yet many marketing-driven organizations lack access to the comprehensive data to support this basic principle in determining how and where to activate consumer touchpoints. Without this data, marketers are prone to miss conversion opportunities within their target audience, losing consumers to the competition.
To help brands maximize their conversion opportunities, Ipsos MMA combines marketing mix modeling with multi touch attribution analytics into a unified approach to uncover the most opportune micro-segments, individual customers and targeting programs that when activated, can help these brands achieve revenue goals.
Why Customer Segmentation and Advanced Modeling
Uniform communication strategies that are not customer centric have failed to exploit millions of dollars in opportunities at the individual and segment level. To gain and retain a competitive advantage in today’s market, companies are trading in their uniform channel-based approach and seeking to implement unified approaches that marry marketing mix models, attribution platforms and value-based segmentation. With this enhanced approach, companies can quantify, capture and drive value from this previously missed opportunity.
Ipsos MMA has established a first of its kind data management and predictive analytics platform that enables clients to gain an understanding of, as well as optimize the impact of, a holistic set of business drivers. While most brands primarily focus on factors within their control, such as broad reach media and overall strategies to addressable media and local activities, Ipsos MMA takes it a step further to look at the factors outside of a brand’s control. The factors include, for example, macroeconomic factors, consumer sentiment, health factors, weather and competition.
This more comprehensive modeling provides executives and marketers with the ability to identify high- profit customers and micro-segments that will drive increases in traffic, sales, profit and retention.
Engaging Your Most Profitable Customers and Segments
To convert targeted customers and segments, companies are measuring and optimizing the direct impact of targeted marketing such as email, direct mail, CRM, social engagement, and addressable TV, while also accounting for brand building media, operational factors and external factors. By integrating customer segment level data within the marketing mix models, marketers can pinpoint media channels, messages and promotions at the right customers at the right time.
One of the enablers behind this capability is Ipsos MMA’s rapid modeling platform. This platform is capable of quickly producing thousands of client and business specific models that capture the direct and indirect effects of marketing investments using customer and customer segment level data. By connecting the dots within the buyer’s journey for each specific target audience, companies are empowered to make more timely business decisions and accurately execute deliverables that lead directly to millions of dollars in incremental value.
Customer Segmentation Analytics Address Critical Business Questions
Effective customer segmentation uncovers consumers’ need states, mindsets, behaviors, demographics and social profiles to identify their profit potential so that you can tailor your marketing strategies to align with each segment at a micro level. With a holistic view of your opportunities and consumers you can initiate and optimize your marketing investments with greater accuracy, given the insight you gain on these business questions:
- Which mix of tactics is most effective for each customer and segment to drive value and profitability?
- What drove each of these customers to purchase?
- Which tactics are assisters and which are converters?
- How responsive is each customer segment to each stimulus?
- Which programs and offer types work best for various customer segments?
- How deep do we promote by segment to maximize efficiency and minimize subsidization?
- How do we best target media at specific sales channels?
Advanced Targeting & Micro Segmentation
Consumer behaviors and media consumption habits are changing faster than the global marketplace and competitive landscapes. Through the combination of new sources of highly granular data, technology and advanced analytics, these changes are not only trackable but predictable at the customer and segment level.
Ipsos MMA’s cutting-edge analytic capabilities enable clients to engage with customers more effectively, integrating marketing and technology to optimize customer value. Working collaboratively with clients, we develop intelligent programs that drive demand creation, align communication to customer needs, inspire loyalty and drive growth based on each distinct business strategy.
MMA’s approach to advanced targeting enables clients to address critical questions along the customer continuum.
- Who buys?
- What distinguishes buyers from non-buyers?
- What are they willing to pay?
- When are they most likely to buy?
- Why do they buy from you or your competition?
- What are the customer decision drivers?
- What are their need states?
- What drives purchase behavior?
- How are their media consumption habits changing/evolving?
- Are there barriers to consider?
- What content matters?
- Which campaigns will drive sales vs. loyalty?
- How do we efficiently trigger consumer behavior?
- How do we get ahead on retention efforts?
- Where is innovation required to maintain a customer relationship?
- How do we incent customers to be advocates?
- How do we measure and optimize this program?
- How do we monitor and engage in social conversations to drive continuous engagement?
- Are there new and emerging influencers to bring into program?