Customer Universe Study


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Customer Universe Study

Customer universe is “analysis of an ideal customer profiling for one’s business”. It is a tool that businesses use to enhance the understanding about their customers and helps to make better business decisions. Customer profiling provides a description of the customers based on a set of attributes. Similar profiles can be grouped by shared characteristics such as demographic, geographic, psychographic and behavioral characteristics.

Why profile your customers?

Customer universe will help you to decipher your customer’s taste & preference and discreetly highlight who they are, what they look like, and what their interests and needs are. This insight will help you to recognize your customer’s characteristics, behavior and traits. With a complete understanding of your customers, you will know their interest areas and will be able to connect with them more efficiently.

Understand and appeal to your customer preferences

Collecting and putting the requirements of your customer data in the right order is a great business challenge. Capturing customer universe and segmentation tool lets you gather and sort out all prospect interactions on one platform. This enables you to understand your target customers. Post the detailed analysis, the customers based on their preferred medium can be reached with the right message.

A tech enabled smart customer management system helps you engage, manage and maintain your valuable customers in a better way.

Customer universe can be built with the existing database or Common Customer Universe Models.

Many such models involve new data analysis techniques.

Steps of Customer Profiling

Gather the Right Data

Gather prime data points of your customers. This can be done by new age technical analytical tools with the provision of further customization. This will help the brands to identify the right TG, explain how they behave, and what their preferences are. Here are some categories of data you should have on hand:

Demographics, Geographic, Needs, Behavior, Perceptions, Psychographic, Interests, and Attitudes.

This data may be found in-house. If not, in-house data can be augmented with the primary surveys.

Create Personas

Personas are the detailed identification of customer types. For example: recent college graduates. Regardless of where they stay, their gender, or ethnicity, the college graduates face similar challenges in their first jobs, pondering over the career prospects they have, shifting cities and finding the right place for an affordable living. As a matter of fact, they all share common attributes such as attitudes, preferences, and triggers that help marketers draft right messages that can rumble with them.

Identify Right Target Group

It is imperative to know customer’s behavior patterns and reason of scuffle, but it’s more important to dig deeper into the dynamics of meta-categories, too. For example, new moms. Young moms aged 20–30 have varied preferences, concerns, and shopping habits and a lot different than the moms aged 31–36.

Customized Communication

The above two steps have done the detailed analysis on target segments and customer profiles to create basic messaging. Personalization can be layered post the process of identification. Use the recipient’s name. Reference their location (“Moms in Delhi, know the secret . . .”). Cross-selling and upselling few specific products based on their buying history. The other way to send one-to-one message to your customer is with the help of PURL (Personalized URL) campaigns. This will allow brands to directly showcase the relevant and personalized content to the exact recipient of your print pieces or email.

And Prospect Acquisition

After identification of the profile of most profitable and relevant customers, brands can find look alike prospects and target them in an effective manner. These prospects should ideally possess higher propensity to take up your offer and thus provide a more cost-effective way of targeting new customers.

In conclusion, customer universe and segmentation render tools help to fully apprehend your customer base, upgrade the customer engagement and set up new targets’ look alike prospects.