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Customer Profiling
Profiles can be
demographically or behaviourally based, and the difference is very
important to any business.
Here are 2
kinds of customer profiles:
- Customer is
married, has children, lives in an upscale neighbourhood, and
reads Time magazine
- Customer
visited the store every day for 2 months, but has not visited
the store at all in the past 2 weeks
Which seems
most important?
They’re both
important in their own ways. The first profile is important
because it defines the market for a product and provides clues to
strategic direction. The second profile is about action,
behaviour, and for anybody concerned about what their customers
are doing, is more important than the first. Will they visit
again? Will they buy again? These are the questions answered by
looking at behaviour. Customer behaviour is a much stronger
predictor of a company’s future relationship with a customer than
demographic information ever will be. Through the data customers
create via their interactions with a business, they tell us things
like "I’m not satisfied" or "I want to buy more, give me a push"
or "Your product doesn’t appeal to me, just leave me alone."
Customer
behaviour profiling is critical to a company interested in keeping
customers and increasing their value. LP works with organisations
to develop customer profiling tailored to their business.
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