Profiling and Segmentation

What is meant by Profiling & Segmentation and why is it important to my business?

In today's highly competitive climate, you need to fully understand the way your target audience perceives the comparative appeal of your products and services as well as your overall positioning within the market. If you don't, you'll be making costly marketing decisions based on pure guesswork, and you simply won't survive. Nowadays more and more forward-thinking organisations are incorporating elements of scientific marketing into their messaging strategies to help them deliver the right message to the right people at the right time. Profiling and segmentation exercises form the cornerstone of these scientific marketing practices and they frequently deliver outstanding - and sometimes even surprising - results.

Profiling
Profiling is all about building up reservoirs of knowledge about your most typical clients. First, you need to understand who your clients are (e.g. their age, location, life-stage, income band, property value and lifestyle choices). Next, you need to build an understanding of how they are interacting with your products and services (e.g. How often do they purchase, how much, and when). Finally, you need to establish the way clients currently perceive your products and services (for example, whether you're providing a neccessity, a luxury or a default option).

Segmentation
Segmentation involves intelligent decision-making about how these distinct profiling attributes inter-relate to create important patterns and groupings amongst your clients. Sometimes the segments can be as simple as different age bands or different geographic regions, but sometimes the analysis tools we provide can help you to identify patterns in behaviour across attributes that simply aren't visible to the naked eye, allowing you to adjust your marketing strategies to achieve the optimum effect.

Combined together, Profiling and Segmentation exercises can frequently lead you towards a better understanding of why certain areas of your business may be performing poorly, or why your latest marketing campaigns may have suffered from a low response rate.

So how can you create an effective business strategy, deliver an impressive return on marketing investment and grow your market share when the liklihood is that you currently know very little about your clients? To achieve all of this and more, you need to have access to a marketing analytics solution which contains constantly refreshed, accurate transactional data that is serviced by a clean, unified and relevant data repository.

What is Matrix's Profiling and Segmentation package and how is it unique?

It is a combination of the FastStats package powered by Apteco and over 25 years' of financial services market intelligence expertise from Matrix Solutions. This results in a powerful analysis tool that offers dynamic solutions to crucial marketing problems. From understanding the different mechanisms of modern customer acquisition and retention through to deploying cost-effective marketing campaigns, our service is built around our powerful profiling and segmentation capabilities which have been designed to help you grow your business. As a data owner with B2B and B2C databases including the financial intermediary, high net worth investor and IT decision maker sectors, Matrix Solutions is uniquely positioned to provide your organisation with new datasets, enhance existing ones and integrate everything with additional data sources to create the most accurate profile of your audience. From this unique starting point we're able to deploy FastStats to bring its profiling and segmentation powers to bear upon an unrivalled enhanced dataset. No other companies combine the services of data owner with analytics solutions provider, making us a true one-stop business intelligence supplier.

If you’d like to download the full product factsheet to learn more about the product please click on the PDF link.