Taking Control - how to take real control of your segmentation and targeting

There are some pieces of information in the propensity characteristics that can only be sourced internally, but are vital to accurately segmenting your audience. There are many ways to collect this information, and one of the options can be to use the salesforce, or further research, where your data has gaps. The important principle here is that these elements are unique to your product or portfolio and you have the control over what should be included.

Once you have all the data defined and have decided how it will be combined, your customer base can be individually scored. This gives you the template for defining your segments. Then you can then decide what resource should be allocated to them, i.e. salesforce activity levels, marketing support, added value services etc.

 

Monitoring Success

We started out asking the question “how many times have you asked yourself whether your salesforce could be targeting accounts and customers more effectively?”

The approach discussed in this article enables accurate ongoing monitoring by default. Each customer has their own value, so each segment has a total value accordingly. As you own the process, you have the understanding of this, and can measure return on investment at any level, whether that be individual, account or segment. This gives you a hugely powerful tool that allows you to track the success of your segmentation and targeting strategy through the use of simple and clear reports that are easy to set up. This gives you all the transparency needed to support a well thought decision as to how to continue or change your implementation plan.

This is not just an interesting theory, many companies are now taking this more inventive approach, and with great effect:

 

“Working with eVantage gives you a unique tailor made targeting and segmentation solution, not an off the shelf solution that appears to be tailored. They work through all aspects of the brief and challenge current thinking to ensure any investment will generate maximum ROI. They also work to very short timelines and provide regular reviews during the tactical implementation. Further, they will monitor all aspects of the rollout and conduct ongoing performance reviews during and after implementation, and make appropriate recommendations post the implementation period. The result for us has been a full buy in from all stakeholders especially belief in the integrity of the target customers by the salesforce and a year on year improvement in coverage and frequency of 25%.”

Damian Colehan, Head of Sales, Abbott Laboratories

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Questions or comments? E-mail us at info@evantageconsulting.co.uk

“A fantastic and practical customer segmentation roadmap. This will really enable us to harmonise processes across the division.”

Keith Brockbank, Field Force Effectiveness Manager, Pfizer Ltd.