Accelerating Pharma Growth Through Geographic Customer Segmentation – A Case Study by Quantzig
The client is a leading pharma industry player based out of the US. The pharma company wanted to segment their customers into different clusters based on consumption patterns, demographics, and other economic indicators, to develop specific growth strategies for each segment. The Business Challenge To grow and achieve their business objectives, every company irrespective of [...]
The client is a leading pharma industry player based out of the US. The pharma company wanted to segment their customers into different clusters based on consumption patterns, demographics, and other economic indicators, to develop specific growth strategies for each segment.
The Business Challenge
To grow and achieve their business objectives, every company irrespective of the region in which it operates has to find a way to tackle the inevitable challenge of making sense of large customer data sets. By doing so, businesses can better understand market needs and cater to the specific needs of their customers. The pharma company wanted to find suitable ways to accelerate growth and gain a winning edge in the global marketplace. They wanted to leverage Quantzig’s customer segmentation solutions to develop homogenous clusters and analyze the needs of their customers.
Using geographic customer segmentation solutions, they wanted to-
- Improve customer acquisition strategies with targeted customer segmentation
- Achieve better results by narrowing your customer focus and targeting distinct segments
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Solution Offered and Value Delivered
We adopted a four-step approach to help the client address their challenges. The initial phase focused on data discovery followed by data cleansing and the creation of customer profiles and finally the validation of those profiles using advanced predictive analytics techniques.
In the first phase of this geographical customer segmentation engagement, we analyzed the objectives of the project, collected available data, and developed a detailed roadmap to address the core challenges faced by the client.
In the second phase of this geographical customer segmentation engagement, our analytics experts integrated, cleansed, and harmonized data obtained from disparate sources and then finalized the input metrics for the predictive model. We worked with the client to choose the specific variables which could be included in the segmentation algorithm. The objectives of our study and the output of the analysis determined the choice of variables.
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We created customer profiles based on consumption patterns, demographics, geography, and customer lifestyle. Hierarchical clustering analysis also helped us segment the customers into different homogenous groups based on their location and needs.
In the fourth and final phase of this geographic customer segmentation assessment, we leveraged predictive techniques to validate the clusters and devised suitable strategies to cater to the needs of different customer groups.
The geographic customer segmentation solutions offered also empowered the client to develop growth strategies, according to the geo-economic clusters that we had identified.
Why Choose Quantzig as Your Geographic Customer Segmentation Solution Provider?
Our portfolio of advanced customer segmentation analytics solutions empowers companies to devise suitable customer segmentation strategies to address the growing needs of their customers. Leveraging analytics to segment the customers into homogenous groups based on the geographic location puts you in a better position to make crucial decisions related to product development, marketing, and delivery of services.
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What are the Types of Customer Segmentation?
Using a targeted, multi-dimensional approach to customer segmentation, businesses can better analyze their customer’s needs, behavior, and value. We offer a comprehensive portfolio of customer segmentation solutions that aim to help businesses better target their customers, a few of which are listed below:
- Demographic Segmentation
- Geographic Segmentation
- Psychographic Segmentation
- Product Affinity Segmentation
- Customer Behavioral Segmentation
Segmenting the customer base into homogenous groups not only helps understand customer preferences but also make marketing, product development, and customer service more effective and value-driven. Quantzig’s portfolio of advanced customer segmentation analytics solutions empowers businesses to build customized strategies to address customer related issues and design strategies in the most effective way.
Request for more information and gain exhaustive inisghts into how you can benefit by leveraging advanced customer segmentation analytics solutions.