User talk:Crmportals

Consumer Typing
Consumer Typing is a way of extending small sample based sophisticated segmentation method to the whole population. These are based on anywhere from 5,000 observations to 100,000 observations. Typically corporations develop the segmentation framework so that they use that segmentation

(1) to understand their customer/consumer base in terms of how to address their communication needs and also their products needs. (2) to watch for changes in the distributions of these segments with in their franchise vs. their distributions out side the franchise as a way of measure how much market share they serve

However, the common problem has been extending this segmentation scheme to the whole US population to tape into

(4) the distributional differences of consumers at local market level (5) power of one to one marketing that is well grounded in CRM principles for consumer reach and customer service (6) the principles of marketing optimization (7) the media mix opportunities at individual level that optimizes the communication channel opportunities

So companies have been trying to extend their strategic segmentation schemes but it is a not a easy problem to solve as typically these segmentations involve anywhere between 5 to 10 segments and it becomes a classification problem and the error could not be easily reduced, beyond some limits. However there are some new methods developed by companies like ACXIOM INC, a industry leading marketing technology company which has a strong consulting/analytics presence in the market. For example, when a 10 segmentation scheme is predicted for individual, the random assignment will be successful only 10% of the times, and to improve this to 3 to 5 times means a very difficult process.

There are some technical ways to address the business problems and companies develop their ownways. Acxiom has developed its powerful proprietary methods to address these opportunities;