At Aspect Ratio, extensive databases from the client-customer relationship are used to analyse various customer profiles. In addition to giving your sales an effective boost, this technique is a critical part of strategic decision making. Customer profiling can be a key tool for business development. Customer profiling delivers the high-powered impetus to your sales, marketing strategies and overall positioning of the business focus.
The main aim of Customer Profiling is to identify and categorise various traits and characteristics of customers to essentially know their contribution to revenues and profits. Micro-segmentation of the customer base can then permits focused intervention campaigns that can separately target select customer groups for cross-sell and up-sell activities. Customer Profiling as a strategic decision-making tool can help a business encash quick wins in new and existing markets.
Data mining and analysis is perhaps the most efficient way to get a firm handle on the impact of customer behavior and contributions to business success. The Aspect Ratio teams employ various statistical and analysis tools to do just that.
The general methodology that is followed at Aspect Ratio to do Customer Profiling is:
- Profile Characteristics identification – Depending on the nature of the client business, demographic, spending patterns, traveling habits, credit appetite and many more can be studied.
- Tentative profile design - based on initial characteristics.
- Evaluate and score customers on the basis of final characteristics to come up with a predicted customer behavior pattern and likelihood of response to certain intervention.
- Recommendations - based on Customer Profiling to target specific segments of customer or shift in program design to achieve more contributions to business success.