Structure and scale growth
The other way of customer segmentation and potential exploitation
Identify digital twins and calculate their potential validly
In order to grow in a scalable and holistic way, many building blocks and competencies are required: relatively quickly, you can no longer see the forest for the trees and you also don’t know where to start first. With smart data analytics, you get a glimpse into the crystal ball:
- What market potential do I exploit with my existing customers?
- How do I need to develop my existing customers in the potential matrix?
- Do I need more new customers? And above all: WHICH?
- How can I digitally identify and acquire twins of my strongest existing customers?
Acquiring new customers and generating the right leads is a tough nut to crack. We’ve been cracking on that for a long time. In fact, with smart data analysis and a special algorithm, we have a powerful tool in our hands.
A tool with which we refine the data from your CRM, i.e. that of your existing customers, with further information. This refined data gives us information about the actual purchasing potential of your customers in the overall market.
In a further step and the use of AI, we are able to digitally identify the twins of your strongest customers.
The highlight: with this particular algorithm you can now even calculate which potential and which potential level this lead has, even though you don’t even know it yet. This will provide you with a valuable lead list that will give your sales team an advantage in acquiring new customers.
Digital or statistical twins of your customers are automatically “hot leads”: companies and contacts that are identical to your own existing customers in certain characteristics and purchasing behavior. These twins likely have the same challenges in their customer value chain as existing customers. They need the same or similar solutions.
Knowledge of and about existing customers, as well as knowledge of one’s own core competencies and value proposition, helps convince these leads with really important messages and really relevant offers.
Digital or statistical twins of your customers are automatically “hot leads” – and a lead list is therefore an advantage for your sales team.
These points are helpful if you want to scale your growth. But not everything, of course.
- Collect your own customer data (CRM): we need address data for the enrichment of your existing customers.
- Enrich and refine own customer data with external data: the more customer-specific data is available, the easier it is to create the digital fingerprint of existing customers (external data is provided by Dun & Bradstreet, for example).
- Analysis & calculation of purchasing potential per customer: here we need potential criteria, which are compiled to existing customers (learning data are generated) and processed by our algorithm
- Create customer potential segmentation matrix – and do it FUTURE-BASED (not past-based): resolve the blind spot. After calculating the potential per customer, we need the sales data of the last 5 years. With this we calculate the intimacy level per year and customer
- Create development strategy for customers to exploit more potential with existing customers: who to win, expand or defend?
- Translate the positioning and associated value propositions into the various customer development campaigns: Laser-beam instead of watering-can argumentation (e.g., together with Logibrand).
- Use refined customer potential data as basis to identify digital calculated customer twins (AI)
- Create lead list with customers and contacts to be acquired and -importantly- the respective, relevant value propositions
- Use navigation system for field sales/sales team and turn leads into existing customers: either with our app from Zapplyzer platform or through us integrated with salesforce.com, SAP, Microsoft AX, etc.).
- Pick up the phone and call – or let us support you as an extended arm
“Without data you are just another person with an opinion.”
(W. Edwards Deming)
In fact, many companies are still using segmentation models that segment based on the past. This can be done, but it leaves a lot of purchasing potential with existing customers. Why?
Because customers who may not have made a big turnover with me in the past are simply not processed properly – in other words, they go unnoticed. Although they may have a much greater potential in the overall market/product market, possibly bought many machines etc. from my market competitors. So what to do differently?
By refining your own customer data from CRM with external data(for example from dun & bradstreet) AND a special algorithm, you can calculate the customer-specific market share in the product market and thus the actual potential of this customer. This allows you to make much more valid and, above all, future-oriented decisions about how you want to work with this customer: win, develop, defend, or just hold or observe. Does your best sales force really need to go to a customer that has made decent sales in the past, but has little potential for development in the overall matrix?
With this powerful segmentation tool, you give your sales team a navigation system for dealing with customers.
