Are you talking to the wrong consumer? Without customer segmentation, you might be
In marketing, talking to the right consumers is essential for success. Whilst this is easy to say, in practice finding and defining the ‘right people’ is not so simple. Customer segmentation is a method of creating groups from your customers that contain certain similarities, to allow you to speak to each of them more effectively. Customers can be grouped according to certain transactional attributes, such as their engagement with your company, average basket value and the frequency that they place orders with your business. They can also be grouped by their geo-demographics, their lifestyle and their behaviours.
Without segmentation you can often feel like you are in the dark with only a one-size-fits-all strategy that may not be aimed at attracting the best consumer for your business. Segmentation is particularly effective when undertaking direct marketing; including mail shots, SMS campaigns and direct email marketing. To
Automobile Industry in Recovery
Image by Hugo90 via Flickr
November may be an early Christmas present for automakers. Sales have shown strong signs of recovery since the recession began two years ago, rising 14 percent in November. Chrysler and Volkswagen were the clear winners with up to 45 percent of sales. However, Hyundai and Ford managed to score double digit gains in sales with 22 and 13 percent respectively. While sales are still not as high as they were prior to the recession, they are showing strong signs of recovery despite many households struggling financially.
Consumer Demand is Key
Retailers have worried about consumer demand since the recession started. If consumers have little money for necessities, how will they react when faced with high ticket items like new car purchases? I
Credit Demystified—The Five Components of A Credit Score
Credit is something you hear about in almost every financial setting: “It will depend on your credit.” To a lot of people, however, credit and how it is determined may be kind of a mystery. Here we’ll explain what credit is and how it is determined so you can start maximizing yours.
What is Credit?
Credit is your ability to get a loan in one sense. It is a number that lenders will look at when they determine whether or not to grant you alone. But really it is a culmination of five elements:
- payment history
- amount owed
- length of history
- new credit
- types of credit used
These five factors determine your credit score and your resultant ability to get a loan. We’ll discuss each of these in a little more detail.
Payment History—35%
Payment history is your record of paying or not paying bills. It includ
Payday loan alternatives at local banks
If you have relied on the occasional payday loan to handle a cash crunch, you are already aware of the danger of being unable to repay the loan. Short term payday loans can save a family from an emergency if they need to pay a utility bill, purchase a child’s medicine or repair a car in order to get to work. On the other hand, these loans dip into the cash you have available to pay your regular bills and can result in an ongoing financial crisis.
Payday loans and banks
A recent article in The Mercury News compared direct deposit advance loans from banks with typical short term payday loans offered by payday lenders. According to The Mercury News, Regions Bank, Wells Fargo, U.S. Bank, Guaranty Bank and Fifth Third Bank all offer loans that are similar to payday loans.