Transcription of Retail Customer Segmentation - SAS
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Retail Customer Segmentation - SAS
Retail Customer Segmentation using SASA pril 2014 Calgary SAS Users Group meetingJenny ChenData Science, LoyaltyOneAgenda Overview Applications Objectives Types of Segmentation A Real Example with SAS Code Further Reading Overview Customer Segmentation is the practice of classifying your customers into distinct groups based on the similarities they share with respect to any characteristics you deem relevant to your business Key components in developing proper, actionable Segmentation Understand business needs and objectivesCustomer satisfactionShare of walletMarket share Available Customer informationDemographic Geographic BehavioralAttitudinalApplicationsExample sCustomer Investment Allocation Determine segment s current and potential profitability Define differentiated value proposition by segmentCustomer Relationship Management Better meet Customer needs, improve Customer satisfaction Develop Customer loyalty to your brand Improve retention strategyTailor Marketing Program Build relevant campaign, communication Optimize marketing channel mixGuide New Product Development Product preference Potential targeting audi
Overview • Customer Segmentation is the practice of classifying your customers into distinct groups based on the similarities they share with respect to any characteristics you deem relevant to your business • Key components in developing proper, actionable segmentation • Understand business needs and objectives
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