In this final post in the series about social data, we focus on customer segmentation. In today’s market, retailers need to know their customers well—at the segment level and ideally also the individual level—in order to know how best to serve them.
Social data enables retailers to go beyond the superficial layer of demographic data and get a better understanding of who their customers really are. By analyzing the social profiles of their customers and developing more meaningful segments, retailers could fine-tune their offerings to better address the needs of each segment.
Using social data and interest graphs, they could also hone in on the most profitable customer segments, devising new ways to serve them or executing tactics to recruit similar customers. Retailers could even experiment with the efficacy of promotional offers to various customer segments, then analyze those customers based on social data to further supplement their understanding.
How is your company using social data to know your customer segments or individual customers more deeply? In what ways is your company translating this knowledge into better service offerings?
For more information about how customer segmentation and other areas of value can be enhanced through social data, see Accenture’s point of view, “Unlocking Value from Social Data.”