Question

Topic: Research/Metrics

Money For Data

Posted by Anonymous on 12/23/2004 at 1:23 PM ET 250 Points
How much am I willing to pay to know my customer ??
I'm triyng to segment my customers, but I'm not really sure what could be the max. financial effort that I should engage to get this done. I know it's important, but how can I measure it correctly in the end?? I want to be able to say: I have more x% revenues or y% less cost because I've got my customers segmented. Help me with this !... TKS!!
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RESPONSES

  • Posted by ReadCopy on 12/24/2004 at 5:14 AM Member
    I agree with Tate, that the exercise will improve targeting, but still may not bring in the desired business as that hinges on many other factors ... timing, creatives, offer etc

    Profiling and segmenting customer information is just good housekeeping, and should be viewed as such with no financial justification needed.

    In the UK, many of the companies that supply the data, will often do some basic segmentation Free of Charge, so if you intend to buy the data look at getting this service free.

    If you are looking at getting an external company to segment their data, get them to write your business case for it, or at least input to it.

    Good Luck
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