Natasha Vernier’s Post

Importance of Customer Segmentation in AML Transaction Monitoring Customers segmentation is an important way to increase effectiveness of transaction monitoring. Similar to customer segmentation used in marketing, customers exibiting similar transactional behavior are grouped together, for purpose of AML monitoring. Theoretically, the more customers a financial institute has, the more segments should be split for more accurate alert generation. Most of the financial institutes use "business-driven" method in their TM system. A drawback is that some grouping pattern are left behind if it is not noticed by the personnel who define the segmentation schema. At one bank that we serviced, over twenty segments are defined but over 80% of the whole customer population fall into one single segment. Adopting statistical, data-driven method can Reveal Additional Knowledge in these customer grouping. The two approaches should be used Together, supplementing the short-comings among each of them. https://lnkd.in/daY2X6WB

The Secret Weapon in Your Digital BFSI Arsenal: Customer Segmentation In today's competitive BFSI landscape, understanding your customers is paramount. But treating everyone the same simply won't cut it. That's where customer segmentation comes in – the strategic grouping of customers based on shared characteristics and financial needs. By segmenting your customer base, you can: - Deliver personalized experiences: Tailor products, services, and marketing messages that resonate with each segment. - Boost marketing ROI: Focus your resources on campaigns that are more likely to convert. - Increase customer satisfaction: Cater to specific needs and preferences, leading to happier and more loyal customers. Segmentation empowers BFSI institutions to move beyond a one-size-fits-all approach and unlock significant growth potential. #DigitalBFSI #CustomerSegmentation #Banking

CLV is crucial for understanding your customer base. However, the traditional way of calculating CLV can be misleading. Here's why: It treats all customers the same and ignores future potential. The New & Improved CLV: 1️⃣ Segmentation: Not all customers are equal. Segment your base to identify high-value groups. 2️⃣ Predictive Analytics: Leverage data to predict future customer behavior, not just rely on the past. 3️⃣ Cost Awareness: Factor in customer acquisition and retention costs for a more accurate picture. By implementing these elements, you can: ✔ Target high-value segments: Focus your marketing and retention efforts where they'll have the biggest impact. ✔ Maximize CLV: Boost your bottom line by optimizing customer relationships.

🚨 Rant Alert: Vertical Market Segmentation in Aftermarket Services 🚨 If you're in the business of selling aftermarket services, listen up! Vertical market segmentation is not just a nice-to-have—it's an absolute must. Why? It shows that you understand your customers' business inside out. Speaking their language and addressing their unique pain points makes you a trusted advisor, not just another vendor. Customers evaluate service providers based on industry-specific expertise. By focusing on vertical markets, you enhance customer intimacy, leading to a better customer experience. And guess what? This strategy also allows you to implement a premium pricing strategy by demonstrating that your deep industry knowledge yields better outcomes. Moreover, vertical market segmentation enables you to streamline operations, optimize service delivery, and reduce costs by catering to similar service needs within the same vertical. If you're still hesitant about vertical market segmentation, it's time to take action. Focus on the industries you serve best, customize your offerings, and witness your business thrive. Your customers—and your bottom line—will undoubtedly appreciate it. #AftermarketServices #VerticalSegmentation #CustomerExperience #ServiceExcellence #MarketStrategy

Financial Adviser - Client Segmentation Tool - Free Version Now Available. This intuitive tool allows financial advisers to enter their client base in key segments and quickly see which segments generate the most value, including the revenue per hour. You can also set a 'target revenue' and change the key data points to get the right mix to achieve your target revenue. All the details in the post. #wealthdata #financialadvisers #financialplanners #financialplanning https://lnkd.in/gXKrcrXR

If your customers can easily find similar Recruitment products with comparable service levels elsewhere, your offerings lack uniqueness. Despite ongoing discussions about consultative sales, many customer relationships remain transactional. So, how can we transition to building lasting connections that unlock hidden profits? - Customer Segmentation - Measuring the customer experience - Spending time in the right places - Building lasting relationships Join us from 12:00pm - 1:00pm on February 7th for a deep dive into these key topics, utilising the expertise of Paul Sharpe & Miles Lloyd over at NorthStar People and some incredible shocking data from Julian Hopper Founder of Talent Analytics🚀 Secure your spot here:  https://lnkd.in/eP_MBwWT #customerfocus #servicelevel #USP #segmentation #thepowerhive

UK Customer Segmentation Analysis Dashboard Tableau UK Customer Baseline : Customer represents segmentation among 4 different regions. 1. England being mostly represented by White Collar Job workers by 70%. Female being the highest by 51% as compared to Male with 49%. 2. Scotland being mostly represented by Blue Collar Job workers by 46%. Male being the highest by 72% as compared to Female with 28%. 3. Wales being mostly represented by White Collar Job workers by 60%. Customers maintain predominantly a good amount of balance in their account ranging from 14K to 70K. Though few customers maintain 0 balance where mostly are male between age of 16 to 20.  4. Northern Ireland being simultaneously represented by both Blue and White Collar Job workers by 33%. Female being the highest contributor with 74% as comapred to Male with 26%. Customers maintain predominantly a good amount of balance in their account ranging from 14K to 70K. Though few customers maintain 0 balance where mostly are male between age of 16 to 20. Tableau Link : https://lnkd.in/dnEWK3mv

Revision on DS efficiency should be done in a set frequency (or vary) post migration, how far are we comfortable with cust of “Low” risk tag; while mule accounts mostly targeted “Low” risk cust segment. Nak adjust sini sana tak cover nak adjust sana sini tak cover.

Ideal Customer Profile (ICP) first, segmentation second.   Zsuzsanna Ferenczi and I see advice to segment first, then create the ICP. We disagree.   Wholeheartedly.   You create the ICP first.   Perhaps by use case, product, or solution.   Qualitatively and quantitatively.   If you do this well, you will find all the segmentation criteria; ➡ By firmographic (industry, revenue, age, employee etc.) ➡ By technographic (do they have connecting systems) ➡ By behavior (change resistant, passive/aggressive etc.) ➡ By maturity (organizational, operational, technological) ➡ By functional areas (have the right functions in place) These are typical segmentation criteria.   You won’t know them without developing the ICP first.   You don’t have an ICP per segment.   You have ICP by use case, product, or solution.   #endofrant