After uploading your data into BuyerGenomics, the system autonomously classifies your customers into distinct groups to give a clearer, actionable view of your customer base. Smart Segments and the Buyer Lifecycle are among the many machine-derived, actionable ways BuyerGenomics looks at your customers.
What Are Smart Segments?
BuyerGenomics utilizes machine intelligence to generate six smart segments based on your customer data.
Most Valuable Buyers (MVBs) - The highest value customers in your database.
Frequent Buyers - Customers who purchase the most frequently.
Recent Buyers - Customers who bought recently relative to their own personal purchase cadence.
New Buyers - Newly acquired customers.
Tenured Buyers - Customers who have been engaged with your brand for a longer period of time than most others.
Dormant Buyers - Buyers who have not purchased with your brand for an extended period of time.
Smart Segments divides customers according to a bell curve based upon buyers’ historical transaction data.
Customers in the top left quadrant are the high value buyers who spend the most, most often. These are the ones that carry your business. Therefore, engage them in ways that recognize how much they mean to your brand. Thank and reward them for their loyalty with special service and more personal touches.
Customers in the lower left quadrant are newer customers who must be cultivated and developed. Educate them about your brand and incentivize further engagement and attachment.
Customers in the lower right quadrant are fading and must be brought back into the fold. Stimulate them with offers and reasons to buy again.
You can at any point deploy a message to any of your smart segments. Use the Quick Drop button to the right of each segment in the lower table to easily deploy unique messages to whichever segment you choose, depending upon your objective.
The bottom of the Smart Segments screen displays a chart that details the core components of each group:
Average Transactions per Customer
Average Dollar Amount per Transaction
Average Dollar Amount per Customer