At boobook, we firmly believe in merging the 'who,' 'what,' and 'why' of target groups to create powerful segmentation strategies. In 2022, we had the opportunity to collaborate with Telenet, a major telco player in Belgium, who shared our beliefs. Together, we aimed to expand their residential customer base through updated customer and consumer insights.
Decoding the residential customer base
The goals were straightforward and ambitious:
update customer understanding
- offer the right products and services to the right consumers using the right message
- grow the business through increased retention, upgrading and acquisition
The Telenet Market Insights Team recognised the need for a more granular segmentation model that could keep up with market changes and improve customer retention. To achieve this, boobook interviewed more than 10 000 Belgian consumers.
By delivering an innovative layered segmentation model, Telenet gained comprehensive insights into customer life stage, telco-behaviour, and telco-holding as attitudes. These insights proved invaluable in developing the right product and service portfolio, fine-tuning CRM targeting and messaging, and optimising the customer journey.
What makes segmentation truly effective?
Segmentation is a powerful tool that enables businesses to customise products, marketing strategies, and messaging. However, its effectiveness often diminishes due to a lack of clear actionability. Many organisations struggle to determine how and where to target the identified segments. To truly benefit from segmentation, it must permeate the entire organisation and be effectively utilised to target customers and prospects.
The question then arises - how can we achieve this?
Through this case study, working closely with the Telenet Insights team, we identified three essential elements that contribute to the success of segmentation efforts:
- Involve different stakeholders from the start: By hearing from different perspectives and prioritising input from various teams, you can ensure that your segmentation strategy reflects the goals and needs of the entire organisation.
- Make an impact with storytelling and adaptability: Numbers alone won't win hearts and minds. Use the power of storytelling to convey the importance and relevance of your segments across different teams. By utilising storytelling techniques, the segmentation strategy becomes more relatable and memorable, increasing buy-in from stakeholders. Additionally, actively listening to feedback and being adaptable allows for continuous improvement and refinement of the segmentation strategy as needed.
- Ensure the segments can be targeted by linking to the CRM database: While it may seem obvious, the technical feasibility of targeting the identified segments is often overlooked. It is crucial to ensure that the segments can be effectively targeted by integrating the segmentation strategy with the organisation's CRM database. This linkage enables personalised communication, tailored marketing strategies, and precise targeting of customers and prospects based on their segment characteristics.
While involving stakeholders, utilising storytelling, and ensuring technical feasibility may seem like common sense, the reality is that these crucial elements can be overlooked during a significant segmentation project. By implementing these best practices, organisations can take their segmentation efforts to the next level, allowing for actionable insights that drive business growth and success. This enthusiastic and creative collaboration between Telenet and Boobook is a perfect example, demonstrating the power of actionable segmentation when integrated with the organisation's database. By involving stakeholders, utilising storytelling, and ensuring technical feasibility, Telenet was able to gain comprehensive insights into its customer base and effectively target its products and services.
Do you want to know how to take your segmentation game to the next level? Reach out to our team!