KYC: Know your customer

There are three phases in the B2C analysis to know your customer and target the right customer for right offers.

1. Segmentation
2. Targeting
3. Positioning

1. Segmentation

• Segmentation is the process of finding and grouping the customers based on their needs and characterstics.
• These customer segments are beneficial in marketing campaigns, in identifying potentially profitable customers, and in developing customer loyalty.
• We do customer segmentation for these purposes:
  • Targeted marketing messages to the right people
  • Focuses on the most profitable customers
  • It can improve customer service There are different types of customer segmentation in B2C:

1. Demographic

   • Gender,
   • Age,
   • Marital status,
   • Accupation, etc

2. Geographic

   • Location
   • Region

3. Behavioral

   • Transaction frequency
   • Time of transaction
   • transaction quantity

4. Psychographics

   • Social status
   • Lifestyle
   • Personality characterstics

2. Targeting

• Evaluating potential profiles from the segments and deciding which segment to focus on for new offers or providing a loyalty card via email, or showing new campaigns via TV ads

3. Positioning

• What campaigns we should start which will be most likey to be liked by costumers and how we present it to them