For marketers, segmentation is a core critical strategy for understanding their consumer base. Sokan's AI will automatically place customers into different segments based upon how recent or frequent historically they made purchases using Recency, Frequency, Monetary Value (RFM) Analysis.
Sokan will divide your customers into 11 different distinct groups including loyal customers, new customers, hibernating, or at-risk customers so you can better predict churn for different groups of customers and increase conversion rate.
Read more about RFM.
For brands operating in multiple regions with different lines of products, it becomes a challenge for marketers to develop a deep understanding of each of their local-customers. Sokan’s customer analytics tool provides the capability to separately segment customers from different geographic locations using RFM analysis.
By segmenting different groups of customers separately for each different geographic location, marketers can optimize their marketing strategies and gain a deeper understanding of the needs of their local audiences across the entire country.
It's important for marketers to be able to measure the effectiveness of their marketing campaigns against the sales they generate. What is usually a painful activity for most marketers, Sokan makes it into an easy click of a button by providing visualizations for measuring changes in sales KPIs per each individual customer segment.
By having a constant watch on the impacts of marketing activities on sales initiatives, marketers have the flexibility to shift their strategies at a moment’s notice and target their marketing more effectively by accelerating activities that are proving more valuable.
Changes in market conditions impact the purchase behavior of different customers differently, and thus it becomes critical for marketers to quickly understand which sets of their customers have improved or weaken over time. Sokan provides a visualization that makes it easy to understand the flow of customers that have moved from one segment to another during different time periods, such as how many new users have become champion customers or how many loyal customers have become at-risk customers.
By easily accessing a list of customers who have moved in between segments, marketers will be able to constantly fine-tune their engagement efforts across all different customer segments.
Easily export a list of desired customer segments into a.CSV to be utilized in the tools of other vendors. Further, API integrations are available for automatically transferring data into in-house platforms.