Segment Discovery (Greg Phillips)
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This document discusses how an office supply company used Monetate LivePredict to uncover new customer segments for their back-to-school season. They defined key segments like K-5, middle/high school, and college students. LivePredict helped discover a segment of college-aged customers who tended to buy larger items, live in populated non-metropolitan areas, and were aged 18-25. The company then targeted this segment with custom banners and experiences. This allowed them to focus resources and provide a relevant experience for important customer groups.
Segment Discovery (Greg Phillips)
- 2. The Problem: Back to School Season • One of the largest sale seasons for the industry. ! • Wanted to effectively segment out our user groups and provide relevant onsite experiences. ! • Focus on a few key groups –K-5 –Middle/junior high-school –High-school –College
- 3. The Process – With LivePredict How to Uncover New Segments
- 4. The Process • Defined what we were looking for: – We are looking to discover BTS shoppers that are most valuable to us. ! • Look at the numbers to help direct you initially. – Customers with the highest Average Order Value – Preferences for higher margin items – High repeat purchase frequency
- 5. College Back-to-Schoolers ! • Propensity to buy bigger ticket items - Laptops - Desks - Futons and chairs ! • Often in a heavily populated area not inside a major metropolitan area ! • Age demographic of 18-25
- 6. Live Predict and Geo Targeting • Using the Monetate LivePredict tool we are able to uncover new segments based on our assumptions. ! A few examples: ! - High proportion of population under 24 - High populated non-metropolitan areas - Education level
- 8. The Solution – Targeted Assets • College Back to School Banner ! ! ! ! • Takes users to a custom page with items relevant to their interests. • Only shows to users in those specified demographic locations.
- 9. The End Result • Segments were delivered a relevant experience upon landing. • More known about these customers were known. ! • Internal resources could focus on key areas based up discovery. (Efficiency)
- 10. Recap • Begin with a goal in mind. ! • Start with low hanging fruit within your data, let that guide you. ! • Enhance with tools such as LivePredict to discover unique characteristics of your segments. ! • Target through Monetate.