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Do You Have A Customer Identity Crisis? > NetSparsh - Viral Content you Love & Share

Do You Have A Customer Identity Crisis?

The trick is to determine what uniquely identifies your best customers. Fortunately, deriving this information is not difficult, and in many cases can be obtained from innocuous questions. Consider a manufacturer of baby goods and the fact that families with new babies often purchase multi-passenger vehicles. This manufacturer could build an effective mailing list by surveying recent car purchasers and noting which respondents had traded in sports cars for SUVs. Your information gathering technique of course will vary, but the identifying information always comprises the same three pieces -- demographic information, geographic location, and purchasing history. Demographic Information

Consumer behavior varies with age, sex, education, income, occupation, marital status, and family size. These demographic parameters are typically used to describe consumers, but they're not an exhaustive list. Perhaps the current brand of car or credit limit would more accurately determine your customer base, which reveals the dark side of demographics -- choosing which demographics to discard may be occasionally difficult. You may find yourself fighting the urge to know every minute detail about your customers. Bear in mind that too much information can be just as paralyzing as too little, and remember to choose wisely, because demographic information is the foundation of your customer analysis. Geographic Location

Trends in apartment renting and home ownership have proven the old adage "birds of a feather flock together," amazingly correct. Geographic location analysis paired with demographics reveals clusters of people with similar characteristics living near one another. This type of analysis creates maps where your customers live, which can yield additional clues on where to look for new customers. It's also worth noting that purchasing behavior is remarkably consistent within specific geographic areas, reflecting shared lifestyle traits. Market segmentation studies can build upon geographic analysis to produce studies of various customer types as well. Purchasing History

When did your customers last make a purchase? How often do they buy? How much do they typically spend? You can use these questions to assign a value category to your customers. If you're a consumer goods and services provider, you have all the purchase information you need right in your sales records. If that's not enough, or if you run a different type of business, you can find generalized purchasing history in census data.

Using what you know about current customers to identify likely new customers increases your chances significantly of finding new best customers. That in turn generates sound data to guide your product offerings, promotional programs, and overall marketing strategy.

Catenate, LLC is a web-based provider of detailed easy-to-use targeted geodemographic reports, through the Catosphere (http://www.catosphere.com) and related marketing services.

http://www.catosphere.com
Wendy Cobrda, CEO

In The News:

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Fairbanks Daily News-Miner

UAF chancellor rolls out new strategic planning initiative in ...
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FAIRBANKS — University of Alaska Fairbanks Chancellor Dan White delivered his annual convocation speech Tuesday afternoon and introduced the audience ...

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Patch.com

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From The City of Geneva: Residents, merchants, and stakeholders are invited to help shape the future of Geneva by attending the City's Strategic Plan Advisory Committee's upcoming community forum.The forum will be held at 7 p.m. Thursday, Sept. 20 at ...


FOX 44 - KWKT

UPDATE: Strategic plan approved by Belton City Council
FOX 44 - KWKT
... hoping it will force the city to re-evaluate the plan from a homeowners prospective. "I think that's what they are hoping, that we'll move on and turn the page and go on with our lives," said Daniel. If the strategic plan is approved, the Lake-to ...
Belton Council revises Lake-to-Lake Road plans, adopts $28.8M ...Temple Daily Telegram

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Danvers School Committee approves new five-year strategic plan
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A new five-year strategic plan to take Danvers school through 2023 has been given final approval by school officials. The Danvers School Committee on Sept. 10 gave its seal of approval to the 2018-23 Strategic Plan for the school system. Initial ...


Franklin Twp. schools to hold meeting on strategic plan
NJ.com
The Franklin Township School Board of Education is seeking members from a cross-section of the school district in developing action plans for its strategic plan. The Franklin Township School Board of Education is inviting the community to help develop ...


The Financial Brand

7 Big Strategic Planning Questions Bankers Must Be Asking Now
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In boardrooms around the world, senior leaders are scrambling to set the strategic direction for their financial institution. But when senior leaders aren't brutally honest about where their organization needs to improve and innovate, their strategic ...


TechRepublic

Effective deployment of IoT requires strategic planning and careful calculation
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The ability to monetize the ever-increasing flow of data generated by interconnected devices will require a comprehensive and well-documented strategic plan. An effective IoT strategy will go a long way toward determining the winners and losers in what ...

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United States Geological Survey (press release)

Science for a Risky World: A USGS Plan for Risk Research and Applications – USGS publishes strategic plan for ...
United States Geological Survey (press release)
The Risk Plan identifies the Bureau's core competencies in this arena and includes background on and specific recommendations for building institutional capacity for creating sustained partnerships, supporting professional staff, and improving product ...


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