The purpose of marketing is to satisfy target customer needs while growing profit. As such, marketers need to force business intelligence to identify the different needs, use different approaches to fulfil these needs, and know the differences between customer groups. One strategy that can be used to do this is market segmentation.
What is Install Base Customer
- These are clients that are currently using the seller’s products. It is essential to keep these customers happy because they are already ‘sold’ and it is less expensive to maintain them than to find new customers.
- These customers are also priceless because they can serve as a reference to new customers or better yet help you convert new customers by spreading the word that they are satisfied with your product.
- The seller is also likely to have demographic, firm graphic, and techno graphic data on them.
Marketing to an install customer base is different from marketing to the customer base because they are already happily using the product. You may not be able to sell them more of the same exact product right away, but you may be able to sell useful accessories or offer customer care/technical support.
Ideally, you will have maintained good data on your existing install base, including up to date contact information (email, phone, social media and others) and techno graphic details (what technology stacks do they have in place that your offering can complement). With this familiarity, you can communicate with them easily and regularly.
Segmenting by install base using demographics is a great way to ensure that you engage this segment in the right way, maintain customer lifetime value, and make sure that your consumers are happy ambassadors to your brand.
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