Collect as much data as possible about your customers to better understand their needs.
Segmentation options:
1. Simple: by demographic parameters, site behavior and life cycle (new, active, dormant clients).
2. CVM and RFM methods.
CVM (Customer Value Management)
Clients are divided into four groups depending on what stage they are at and what work is being done with them:
1.Attraction
2.Onboarding
3.Development
4.Retention
This approach is aimed at maximizing the value of customers bank data during the life cycle. It allows you to understand how many customers are at each stage and what task is more important to solve in communications with them.
RFM (Recency, Frequency, Monetary)
This approach is based on three parameters:
1. Recency(age) - the time that has passed since the last purchase.
2. Frequency(frequency) - how often a customer makes purchases.
3. Monetary(total) - how much money the client spent over a certain period.
This way you can quickly identify high-potential customers, as well as those who need to be brought back to purchase.