- April 29, 2021
- Posted by: admin
- Category: Inveon Insights
Taking advantage of the power of targeting in order to take the right marketing actions is a method implemented by many brands. Strong targeting is one of the most important components for strengthening customer loyalty and increasing sales. To target more accurately, behavior-based customer segmentation is one of the useful options among various methods.
Behavior-based customer segmentation is a type of segmentation that allows brands to divide and group customers in line with common behavioral patterns and enables them to take effective marketing actions accordingly.
Many different behaviors and orientations of customers such as the types of products they buy, their reactions to communication activities, or price sensitivity can be evaluated as a criterion for the segmentation. Which behaviors will be necessary to take into consideration for your brand and strategy depends entirely on the unique characteristics of your brand and your customer base.
What are the benefits of behavior-based segmentation?
A 2020 Statista research shows that in the UK and the US, usage of personalization in e-commerce websites is 74%. E-commerce professionals who attended the research suggest that the main benefit of personalization is the significant increase in the conversion rate.
Based on this point of view, it is not a surprise that in 2021’s e-commerce environment personalization still has a non-stop rising popularity. The positive effect of personalized experience is undeniably high in today’s world because, for customers, now experience is more prominent than anything else. Therefore, especially with the increase of competition in digital commerce, such a major factor that directly affects the success of your brand can not be ignored.
Considering that competition turns into a race to create a habit beyond price or product quality, creating a personalized experience at every point of the customer journey definitely requires knowing your customer. Hence, in order to know your customer in the best way and to take appropriate actions, it is necessary to create valid segmentations.
To reaching customers from email to phone calls, push notifications to live chats there are various channels available. In this variety, the power of the impact you will create by using the right channel at the right time for the right customer makes segmentation this important.
With behavior-based segmentation, you can make more specific targeting, carry out cost-effective campaigns and activities, make performance measurements much more meaningful, and create brand loyalty.
By determining the most beneficial segment for your brand within the ones you have created, you can direct your resources to that group and ensure your brand’s success.
Power of your data, power of your brand
The way to do an effective behavior-based segmentation starts with obtaining as much data as possible and bringing them to a suitable state that can be processed. However, of course, only having the data is not enough to reach the objective. After collecting data, the hard part starts and requires considerable effort and complex work.
Inveon GrowthLab team comes into the scene at this point and carries out detailed studies to determine the most beneficial segments by making groupings for your brand and to offer appropriate actions for the specified segments.
In line with the needs of your brand in terms of segmentation Inveon offers a considerably deeper data analysis capability beyond the results of algorithms fed only instantaneous and fewer data, and that it can perform the most accurate segmentation with advanced algorithms.
Among your customers let’s take Jack, as an example. Only measuring whether Jack clicked on the sent mail is far from being a sufficient control in today’s conditions. Analyzing the behavioral patterns Jack has exhibited since the moment you meet him, categorizing the different decisions he made under the influence of different variables, creating the right segments with your other customers who have similar behaviors to Jack’s are much more effective. Apart from the instant decision analysis, not only to determine the next action but also to draw a comprehensive strategic plan is what your brand needs.
To make sure your brand’s needs fulfilled, the expert members of the GrowthLab team establish the necessary structures for behavior-based segmentation for your brand, determine the possible actions and comprehensive strategy for you, and ensure you get maximum efficiency by carrying out the integration processes with the necessary 3rd party tools to take these actions.
If you are not sure how your e-commerce business can create excellent customer experience journeys, reach cost optimization, revenue increase, and high customer satisfaction through the right segmentation, get in touch with one of the Inveon experts today and let us ensure that Jack has the maximum personalized experience from his next shopping and turns into a loyal customer for your brand!