Customer Success Segmentation Helps a Sustainable Packaging Firm to Improve Customer Retention Rate by 17%
Customer Success Segmentation: What is it all about? Customer success segmentation enables you as a brand to understand the patterns that differentiate your customers. Collecting and analyzing data to understand patterns and differences is not useful unless a business utilizes the data. Deploying a customer success framework enables you to customize your business communication. This […]
Customer Success Segmentation: What is it all about?
Customer success segmentation enables you as a brand to understand the patterns that differentiate your customers. Collecting and analyzing data to understand patterns and differences is not useful unless a business utilizes the data. Deploying a customer success framework enables you to customize your business communication. This plays a crucial role in identifying potential customers since different customer segments often have different interests, values, and tastes, and disparate customer segments may not respond to the same marketing strategy. Every company is aware that certain segments of customers are more likely to purchase different products based on past purchases they made, thus it helps in predicting upcoming purchases of customers and potential customers. There are three main approaches-
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Benefits of Customer Success Segmentation
The major benefits of customer success segmentation are:
- Customer retention: A personalized connection with the customers always helps in retaining most of the customers.
- Establish brand identity: By deploying a customer segmentation, a business can make them aware of the brand’s values and USPs. Creating a unique identity and perception of a brand in the customer’s mind will lead the customers to directly engage with your products and services.
- Enhance customer relationship: Customer segmentation will always result in developing better relationships with prospective customers.
The client is a pioneer in the field of sustainable packaging, with more than 40 manufacturing units spread globally across North America.
This sustainable packaging industry player was looking forward to adopting an integrated approach to customer success segmentation in the global packaging industry. The main challenges faced by this sustainable packaging industry player revolved mainly around developing a customer success strategy to drive maximum results from its campaigns. Thus, the client wanted to develop and deploy a customer segmentation framework to achieve better profit margins. The sustainable packaging industry client wanted to accomplish the following:
- Price products differently
- Understand the behaviors of potential customers
- Optimize marketing strategies
- Identify the least profitable customer segment
Quantzig’s customer success segmentation solution helped the sustainable packaging industry client to gain a deep understanding of how their best and most valuable customers can be segmented to drive maximum value from each customer group. By deploying the much-needed customer success framework, the client gained several benefits that enabled them to upscale their business and drive measurable outcomes.
Speak to our analytics experts to know-how customer success segmentation can help businesses to drive profitable outcomes.
The devised customer success segmentation framework enabled the client to devise need-based targeted marketing strategies for each customer segment. Our customer analytics experts also helped the client to understand the potential of the customer base by conducting a detailed review of factors responsible for customer motivations and price sensitivity. As a result, the sustainable packaging company was able to effectively price its products and ensure maximum MROI. The customer success framework also empowered the client to-
- Devise an effective pricing strategy
- Identify the most and least profitable customer segment
- Develop targeted marketing strategies
- Enhance customer relationship
- Improve customer retention rates by 67.5%
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