In the previous chapter, we talk about the brand promise which has much to do with what consumers should expect from your organisation.
Before you can study your customers, you must have a clear insight into the calibre of customers that you want in your organisation.
OBJECTIVES OF THIS ARTICLE In this article, we will be looking at the following:
Definition of customer profiling and modelling.
Customer scoring and scoring methods.
The role of technology in customer profiling and modelling.
Introduction In the previous chapter, we talk about the brand promise which has much to do with what consumers should expect from your organisation.
Before you can study your customers, you must have a clear insight into the calibre of customers that you want in your organisation.
Having a clear insight into this will help your organisation to evolve into a truly customer-centric enterprise. In order for you to succeed with this, you need to engage in customer profiling and customer modelling.
The elements that identify the best customer profiles should be those that reflect the corporate business model, unique selling proposition and customer value statements(s).
An organisation must be clear about which strategic objectives they want to optimize and for what products, to arrive at a sound basis for customer profiling and modelling.
In customer profiling, we are talking about having enough information about our customers and using that information to come up with products and packages that will satisfy the need of our customers.
An organisation must know what they want to achieve with each of their products and how they intend to achieve it.
Customer modelling, on the other hand, is the process of coming up with products that will meet the needs of different categories of customers that you have in the organisation.
For example, Etisalat came up with an easy cliq in order to suit the need b segment of their subscribers.
The difference between a profile and a model is the element of time, making a model more a powerful predictor of behaviour.
Modelling involves profiling in order to elicit action. In modelling, we are talking about acting upon information that you have about your customer.
You might access the information that you have about your customers in order to see what they have in common.
This will help you to come up with products and packages that will suit a large percentage of them.
You should know that models are not static in nature.
You try and consider your customer behaviour and discover what they have in common.
SUMMARY So far in this chapter, we have talked about customer profiling and modelling, which has much to do with compiling of customer data and having as much information as possible about customers, including a relationship that they keep
In order to come up with models, that is products and packages that will meet the need of a large percentage of the customer base.
We also talked about the scoring method to be used which includes the Recency, Frequency and Monetary behaviour of the customers.
Role of technology is also discussed which we believe will help us in understanding the customer and the type of relationship that they keep.
There is a need for market research and knowledge management which will help organisations to know more about their customer base and come up with products and services that will meet their needs.
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