Database Reference
In-Depth Information
Identifying and Quantifying the Significant Behavioral Drivers
In CRM a deep understanding of customer attrition and development is
critical. This understanding should involve the identification of factors that
drive behavioral changes and have an effect on the decision to buy or churn.
When a segmentation scheme is in place, evaluation of the drivers'
importance and impact should be carried out separately for each segment
since the effect of the drivers can vary from segment to segment.
The basic drivers that should be examined in relation to the decision to
buy or to churn include:
• Properties of products/services
• Price of products/services
• Properties of contract
• Products/services use
• Change in needs/life-stage
• Technology needs
• Processes' efficiency
• Loyalty programs
• Branch/POS network
• Proactive contact with relevant offers
• Service satisfaction
• Brand image.
Step 4: Build and deliver differentiated strategies
In order to make the most of segmentation, specialization is needed. Thus, it is
suggested that each segment is addressed by a different segment management
team. Each team should build and deliver specialized marketing strategies
to improve customer handling, develop the relationship with customers, and
increase the profitability of each segment. The responsibilities of the team
should also include the tracking of each segment with appropriate KPIs and the
monitoring of competitors' activities for each segment.
Segment management teams should take into account the different demands
of each segment and work separately as well as together to design strategic
marketing plans focusing on the following:
•
Channel management:
Offer the appropriate channel mix in order to cover
each segment's particular demands.
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