Customer Segmentation for a leading Jewelry Retailer

Q3 Technologies helped the Client in developing the RFM (Recency, Frequency, and Monetary) analysis model which is used as one of the popular customer segmentation techniques. The segmentation of customers was helpful in effectively designing the target, maximizing the return on their marketing investments.

Business Benefits: Anticipated & Achieved

• Higher return on investment as the focus is on critical customers
• Analyze the transaction frequency of a customer, thereby increasing the responses of the customer to a current campaign
• Easy customers categorization into different segments such as best customers, profitable customers, lost customers, etc.
• Helps to effectively design the target customers for max returns on their marketing investments