Analysis of age, gender, interests and so on can be used by a company to target specific customers effectively.
This allows us to design marketing campaigns that result in a higher conversion rate.
Customer targeting is the process of identifying those persons that are more prone to a specific product or service.
This requires analyzing numerous features in specific ways relevant to marketing:
The selection of customers is not always as obvious as dividing them by a single variable such as age or gender, but the segments are determined by a set of different variables. As a consequence, a good quality of the data and the proper tools to analyze of them must be the first step of the analysis.
Neural networks are computational models that emulate the functioning of the brain. These are machine learning algorithms whose most important feature is their capacity to learn from data.
These techniques have accomplished great success for selecting potential clients much better than traditional methods.
Discover common characteristics between clients to divide them into segments.
Discover the reasons that make that a product fits better one segment than others.
Predict which the product is going to be bought by each client to make more efficient campaigns.
Increase the conversion rate of your marketing campaigns.
Neural Designer is a software that uses neural networks to develop predictive models according to the characteristics of the customers.
The whole process could be summarize as: collecting the relevant data about customers, analysis of the trends and common characteristics and habits and obtaining a predictive model capable of dividing customers according to their needs.
In conclusion, customer targeting enables companies to find the most appropriate leads and invest their marketing resources more efficiently. It is an economical and fast way to manage existing clients and acquire new ones.