One of the key challenges that marketing teams must solve is allocating their resources in a way that minimizes “cost per acquisition” (CPA) and increases return on investment. This is possible through segmentation, the process of dividing customers into different groups based on their behavior or characteristics. Customer segmentation can help reduce waste in marketing campaigns. If you know which customers are similar to each other, you’ll be better positioned to target your campaigns at the right people. Customer segmentation can also help in other marketing tasks such as product recommendations, pricing, and up-selling strategies. Customer segmentation was previously a…
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How machine learning enhances customer segmentation
Source: The Next Web
