Market research, CRM and AI – a trio with great potential
It is possible and useful to transfer the results of market research analyses into the CRM and adapt them there to better understand existing customers’ values, wants and needs and engage with them even more personally. Susan Shaw of GIM Suisse and Christoph Bräunlich of BSI demonstrated this in their presentation at the 2021 BSI Customer Summit.
- Market research provides valid data about the total population;
- BSI facilitates the transfer of the results into the CRM and their adaption there;
- Companies can address their customers’ needs even more specifically.
Broadening the point of view
Sociodemographic characteristics alone only partially explain certain customer behaviors. Although actions may be the same, the motivation for them is often very different, which is why different approaches are needed.
GIM Suisse, the innovative market research company, uses BSI AI to segment the entire population based on survey results, thus minimizing the complexity of the society. The clusters correspond to certain values and needs, for instance.
Customer clustering with BSI AI
With the help of BSI, companies can use market research results to personalize the communication along the customer journey more effectively. First, the segmentation of the total population is transferred into the CRM and adapted there so that existing customers can be assigned to the appropriate clusters. The second step involves a group of existing customers answering a selection of market research questions (“power questions”) via the Digital Experience Platform BSI CX. Then, a machine learning workflow (Brain) is designed with BSI AI, which subsequently assigns these customers to the appropriate clusters based on their answers. In step three, BSI AI, using the same attributes, extrapolates the data to segment all existing customers based on the respondents’ assignments. Since the values and needs of the clusters are known, companies can adapt their customer communication accordingly. It is possible to refine the segmentation further by having the BSI AI Brain and its marketing recommendations undergo repeated reinforcement training.
“We don’t only want to look at behaviors but also want to understand the “why” for the behavior.”
Suzanne Shaw, Managing Director GIM Suisse
How do your customers tick? Susan Shaw of GIM Suisse provides valuable insights.
Accordingly, the transfer of market research results into the CRM and their adaption there sheds new light on existing customers, thus presenting the opportunity to deliver hyper-personalized communication along the customer journey.
You, too, can engage with your customers more specifically – with BSI AI.