Today’s consumers are constantly bombarded with a deluge of advertising and promotions. Enough to have tired of too many options for a single product. What consumers today want most is personal attention. The best brands of the moment can satisfy this need. But not everyone can be Amazon or Netflix. However, an increasing number of companies are beginning to recognize they can no longer rely on traditional marketing strategies.That’s why it pushes more and more on Customer Retention.

The statistics clearly show the benefits of customer loyalty. It is six times cheaper to keep a customer than to acquire a new one.

Existing customers are 50% more likely to buy a new product and to spend 31% more than new customers.

It follows that increasing even a 5% rate of Customer Retention, the profits of a company can increase from 25% to 95%!

Yet despite these overwhelming results, only 18% of global companies consider a top Customer Retention Strategy.

But there is hope! And this hope is called Artificial Intelligence.

The Artificial Intelligence provides a new way for businesses to gather as much information about their customers. The collected data can then be used to track a customer profile and customize offers.

There are four ways in which the above data collection is essential to realize:

1. demographics
2. psychographics
3. behavioral patterns
4. intentions

Demography

Demography is unquestionably the leading categorization tool for marketing professionals. The more a marketer can separate customers into small segments (microsegmentation), the greater the possibility of providing customers with the same personalized attention.

Demographics allow you to create segments based on age, sex, geographic location, income, family and marital status.

Not all products can please all customers. But if a company has a clear idea of what kind of person probably will use its products, you will develop their marketing strategies accordingly.

Psychography

The psychographics focuses on customers’ personalities, their opinions, attitudes and interests. Worth knowing this information, because they can choose how to trade the same product in different ways. On the basis, in fact, to the customer to whom it is addressed.

This is possible through surveys, but today even more by the views on social networks.

Behavioral Patterns

Unlike demographic segmentation and the psychographic, behavioral segmentation focuses less on who is the consumer and on his actions. For example, purchases made, returns, complaints and reviews.

With this data, a company can create a kind of historical customer. Knowing how he reacted to a particular marketing campaign and / or a purchase.

So you can enhance retention strategies focusing more on customers showed positive attitudes towards your brand.

Intentions

Through the simple search for a keyword on the major web engines, a customer is clearly showing what he needs. At this stage it is difficult to misunderstand the needs of a client, since he is showing his intentions directly.

The segments based on customer intentions are particularly useful when you have multiple product lines. The company can thus offer the consumer the specific content, based on the interest shown by increasing leads and sales.

Thanks to Artificial Intelligence, create marketing strategies of this type is much easier than a few years ago. New technologies help identify, unify and enrich all of the collected data. To act urgently on this is currently the best way possible to increase the profits of any business.