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Customer Segmentation

Customer Segmentation Engagement Helped a Pharmaceutical Products Supplier to Bridge the Price Gaps and Improve Customer Retention by 4x- Quantzig’s Latest Success Story

Quantzig’s multi-dimensional approach to customer segmentation analytics helped us better target our customers by understanding customer’s behaviors, needs, and values.

About the Client

The client is a leading pharmaceutical products supplier based out of the United States. The company sells its products in more than 12 countries all around  North America.

The Business Challenge

The rising skepticism over the ever-escalating prices on pharmaceutical products is compelling organizations to innovate by increasing their investments in R&D. As people are gaining more access to healthcare, prominent businesses are planning to manage healthcare funding and tender effective measures to narrow the price gaps between local and international brands. Along with urbanization, the rise of the aging population, changing lifestyles, and increasing incidences of chronic diseases will drive the growth of the pharmaceutical product space.

The client, a prominent pharmaceutical products supplier, wanted to stay ahead of the competitors and identify new products to meet customer expectations. The pharmaceutical industry client wanted to segment their customers based on their needs, behaviors, and demographics. Moreover, through an effective customer segmentation engagement, the supplier of the pharmaceutical product wanted to develop value-based segmentation to understand the revenue they generate. The primary concern of the client was to create and communicate targeted marketing messages to resonate with a specific group of customers.

Request a free brochure of our customer segmentation analytics solutions to gain comprehensive insights into the role of cognitive technologies in analyzing customer preferences in the pharmaceutical industry.

Based on the business requirements, the client collaborated with Quantzig  to leverage its expertise in offering customer segmentation analytics solutions to help them develop value-based segmentation to understand the revenue they generate.


Solution Offered and Value Delivered

Quantzig’s dedicated team of customer segmentation analytics designed a three-step approach to help the client tackle the core business challenge.

Talk to our analytics experts to know how we can help you develop more focused marketing messages to best fit each customer segment  in the pharmaceutical industry.

Our analytics experts adopted a three-step approach to help the client tackle their core business challenges.

Phase 1

The first phase of customer segmentation engagement focused on analyzing business objectives by collecting customer data from disparate sources and developing a detailed roadmap to help the client identify unique customer personas.

Phase 2

In the second phase of customer segmentation engagement, our analytics experts integrated and harmonized data to identify high-performing, profitable product categories, and understand the degree of alignment between the needs of the customers and their  offerings.

Phase 3

The third and final phase of the customer segmentation engagement focused on creating customer profiles based on the demographic consumption patterns. Also, our analytics experts leveraged predictive modeling techniques to help the client devise suitable marketing strategies and cater to the needs of different customer segments.

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Business Outcome

The customer segmentation solution offered by Quantzig helped the pharmaceutical products supplier to identify ways to improve product and service opportunities and establish a better relationship with the customers. The solution also sought ways for the client to differentiate customers based on their economic value. Moreover, the client was able to predict and anticipate the most profitable customers and allocate their capital resources efficiently. The client was able to differentiate their products with that of the competitors’ offerings and improve the overall market share.

Quantzig’s customer segmentation analytics solution also empowered the client to:

  • Successfully bridge the price gaps
  • Improve customer retention by 4X
  • Enhance relationships with potential customer groups
  • Target niche customer segments

Want more tips on how customer segmentation analytics can help you improve the business outcome?

Customer segmentation analytics

Customer Segmentation Analytics Opened up New Growth Avenues for a Banking and Insurance Company to Improve Customer Acquisition by 2X – Quantzig’s Latest Success Story

The client is a multinational banking and insurance services provider headquartered in Wexford, Ireland. The client is well-known for offering a wide range of services that include deposits, loans, financial planning services, investments, pension cash management, online banking, foreign exchange, interest rate risk management, and mobile and tablet banking services. The banking and insurance company was looking for customer segmentation analytics solutions to connect with multi-channel customer segments and more precisely identify potential customer segments. Hence, they approached Quantzig to leverage its expertise in offering customer segmentation analytics solutions to drive revenue generation by growing their wallet share from existing as well as new customer groups.

Companies in the banking and insurance sector face several predicaments in developing a customer segmentation strategy to target the most profitable customer segments. The challenges these companies face can be attributed to several factors such as the growing need to develop customized marketing programs, design products and services to effectively address customer needs, and reduce customer churn rates. Today customers are digitally empowered, and therefore, traditional customer segmentation strategies used by banking and insurance players will no longer help. To gain strategic advantage, banking and insurance companies need to enhance their organizational capabilities and customer acquisition strategies.

Customer segmentation in banking can help you gain a 360-degree view of customer behaviors and devise suitable strategies to categorize them into homogenous segments. Request a FREE proposal to gain in-depth insights into our customer segmentation analytics solutions.

Business Challenge

As one of the leading banking and insurance companies in Ireland, the client was successfully able to incorporate actionable insights from their customer behavioral patterns into their upstream and downstream business operations. However, with the increasing developments in the field of e-banking services, the banking and insurance company was not able to bring about improvements in their customer satisfaction and service levels. Also, owing to their huge customer base across Europe, they were facing challenges in identifying opportunities for revenue growth.

Additionally, the client found it challenging to differentiate the customer servicing experience and design product bundles to more effectively address customer preferences. The banking and insurance company was looking for customer analytics solutions to connect with multi-channel customer segments and more precisely identify potential customer segments along with ways to market and serve them. Hence, they approached Quantzig to leverage its expertise in offering customer segmentation analytics solutions to drive revenue generation by growing their wallet share from existing as well as new customer groups.

Get in touch with our experts to learn how you can allocate resources and extract maximum value from various customer segments with the help of customer segmentation analytics.

Solutions Offered and Value Delivered

To help the banking and insurance company tackle the above-mentioned challenges, our customer segmentation analytics experts adopted a comprehensive approach that comprised three phases. The first phase focused on a detailed analysis of the competitive forces and different customer groups across Europe. In the second phase, Quantzig’s experts focused on establishing meaningful customer segments by assessing demographic datasets available with the client. The third and the final phase revolved around developing a unique customer segmentation strategy that helped the client to create effective marketing strategies and unique communication strategy for each target audience.

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The solution offered helped the client to gain several benefits by establishing customer analytics as a true business discipline. Also, by leveraging Quantzig’s customer segmentation analytics solutions, the client was able to capture the full potential of their customer base by catering to their customers’ needs in a consistent, professional manner at every touchpoint. Additionally, they were able to gauge the profitability based on parameters such as customer lifetime value, customer churn rate, and customer loyalty.

The streamlined approach to customer segmentation analytics also helped the client to witness:

  • 2X improvement in customer acquisition rates
  • Significant decrease in customer churn rates
  • 42% increase in customer satisfaction levels

Benefits of Customer Segmentation Analytics

CUSTOMER SEGMENTATION ANALYTICS CS INFOGRAPHIC

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customer segmentation analytics

Designing a New Product Launch Strategy with the Help Customer Segmentation Analysis – A Case Study by Quantzig

The client is a tech giant based out of Canada. With years of expertise and specialization in the smartphone segment, the client wished to assess customer perceptions through a customer segmentation strategy, prior to the launch of their new product.

The Business Challenge

It’s no secret that for businesses today, a few customers are more valuable than the others. But to truly understand the customer and succeed in the long run, it’s essential to distinguish these differences and devise customized approaches that satisfy the needs of different customer groups. Today, as tech giants all over the world compete to drive customer loyalty and improve profitability, what differs is how well each of them comprehends their customers buying preferences and how they leverage this information to influence their behavior.

Customer segmentation analysis turns out to be the key to building that understanding. Through customer segmentation analysis businesses can not only gain detailed insights into various customer groups but can leverage such insights to improve customer loyalty and retention. Also, with the proliferation of marketing platforms available today, customer segmentation is more of a necessity for those who wish to grow sales, reduce attrition, and increase profitability.

Contact our customer analytics experts to know how we can help your business grow using targeted customer segmentation analysis solutions.

The client, a leading tech giant was planning a new product launch strategy with respect to the 5G spectrum and its related opportunities in Canada. Prior to this launch, the client methodically wanted to understand their brand’s perception and how they could leverage new technologies to understand customer sweet spots that are specific to 5G and the foldable screen technology.

Top Challenges Faced by the Client

The three-fold challenges faced by the client included:

Problem Statement 1

The client needed to adopt a sophisticated approach to understand the behaviors of their existing and potential customer base.

Problem Statement 2

Though the new product launch strategy looked promising, the client had to gain in-depth insights into customer needs and preferences. Also, they wanted to develop a customer segmentation strategy to maximize the performance of all customer segments.

Problem Statement 3

The client also needed to optimize marketing strategies and engage customers through the right channel. This was a major predicament as it required the client to devise a long-term, holistic approach encompassing enterprise-level capabilities, technology, analytics, and customer data management skills.

Solution Offered and Value Delivered

To gain the desired insights and to support the information needs of the client, our customer segmentation analysis experts at Quantzig adopted a comprehensive three-pronged approach.

Phase 1: Understanding customers

The initial phase of this customer segmentation analysis engagement focused on analyzing the different customer behavior in order to divide them into different groups based on their behavior and preferences.

Phase 2: Analyzing brand perception

The second phase of this customer segmentation analysis engagement revolved around analyzing the customer’ brand perception and their

Phase 3: Aligning marketing communications with a new customer segmentation strategy

The primary objective of this customer segmentation analysis engagement was to develop a new customer segmentation strategy to analyze different customer groups and offer tailored solutions to meet their needs. The customer segmentation analysis solutions not only offered a snapshot of the current value of their customers but also helped them predict the future value of a customer.

Customer Segmentation Analysis Steps 

customer segmentation analysis

Customer Segmentation Made Easy with Quantzig's Customer Segmentation Analysis Solutions

Request a FREE proposal to know how you can benefit from our customer segmentation solutions.

By acquiring deeper insights around their customers, the client was better positioned to develop tailored marketing strategies that aligned to their customer behaviors and preferences. Also, by leveraging customer segmentation analysis solutions in conjunction with behavioral models the client successfully gauged the impact of segmentation over a longer horizon, along with the time it took to influence customer behaviors and drive meaningful results.

The customer segmentation analysis solution also enabled the client to:

  • Effectively deploy marketing dollars to maximize ROI from the most profitable customer segments.
  • Leverage a more cost-effective marketing approach through tailored strategies, aimed at increasing sales, improving cross-shopping, and driving profits.
  • Gauge the effectiveness of marketing campaigns by determining which offers and channels drive the best performance for each customer segment.

What is customer segmentation analysis?

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