A successful financial services strategy is all about getting your segmentation, and micro-segmentation right. Every customer segment has different needs, expectations, and willingness to buy services.
Most organizations don’t invest enough in deeply understanding their customer segments, or more importantly, prioritizing the ones that they should focus on. One size does not fit all, and one cannot, and does not need to penetrate all customer segments equally.
Cedar has proprietary business intelligence tools that help clients segment their existing customer book, and more importantly identify segments or micro-segments that may not be immediately visible to everybody. In addition, it has an approach in understanding customer behavior based on past behavior and what the future behavior could be using predictive analytics. Even without predictive analytics, its product sequencing algorithm can help identify what is the next product(s) the customer is likely to buy, so campaigns and RM time can focus on that.
Segmentation is also critical in the SME, Commercial, and Corporate world. Getting that right can make expensive RM time far more productive and ensure that the RM’s are pitching the right products to the right customer segments.