Customer Segmentation and Data Enhancement
ITS- Integrated Tracking Systems provides customer data enhancement and market segmentation analysis that allows our clients to define, target, and generate lists of non-customers – at the household level. Additionally, we can target existing customers that represent additional revenue for the institution for cross-selling or up-selling.
Our analysis and data enhancement will help you: 1. Recognize key market segments that match specific customer profiles, 2. Identify market gaps that represent opportunities, and 3. Create a file of non-customers to market too.
There are over 71 unique market segments that can be assigned to a customer. One key field included in our analysis is discretionary income. Discretionary income represents money to be spent on non-essentials.
The following map shows a specific target market segment, Prudent Professional J51, that was highly correlated to a particular account offering.
This institution had a few of these customers (represented by the white dots) and these customers all tended to cluster together within the geographic service area. This represented a massive opportunity for the institution. We were able to build lists of non-customer households that match this specific market segment within this market area.
Our analysis and data enhancement allow our clients to focus their marketing dollars and brand message on a specific target market segments that are more likely to buy or use your services than other segments. This is much more affordable, efficient, and effective way to reach potential clients and generate business.
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