Market Segmentation
Increasingly we find that the classic approach to segmentation, based on attitudes, values and needs, does not meet the needs of financial clients. The requirement to be able to target segment members directly, through direct mail or with differentiated service propositions, means that attributing segments to existing databases is crucial.
Our current approach is to match client databases, either customer or prospect, onto the FRS, giving us a pool of consumers where we know the full breadth of their financial holding and behaviour. Segmentation based on this matched dataset has the best chance of being attributable to its ‘parent’ databases.
Additional primary research, either qualitative or quantitative, can then be used to add depth of understanding, test propositions or assess needs.