Consumer Intelligence Solutions | Kentrix India

Author: Kentrix

Customer Segmentation plays a key role in profitability, for a food delivery company

Customer Segmentation plays a key role in profitability,
India is a land of diversity . We rejoice in the culture of multiplicity . Given the diverse work opportunities that have been created in the booming economy , people now have a multi dimensional profile . How do marketing teams then create customer segments ?
Creating customer segments in now dependent on a variety of factors depending on the nature of the business. It is common sense that a jewellery retailer would segment the market differently as compared to an FMCG retailer. The entire exercise of customer segmentation would be conducted differently for either of these businesses.
A popular new age business that is known for its success is the Food Delivery business. Let us understand how we can look at Customer Segmentation for this business.
In today’s fast-paced world, food delivery companies have become an integral part of our lives. With the convenience of ordering food from the comfort of our homes, it’s no wonder that the food delivery industry has grown rapidly over the past few years. However, with the increasing competition in this industry, it has become crucial for food delivery companies to understand their customers and cater to their needs effectively. It is not just about the allocation of delivery resources but also important to understand the placement of partner cloud kitchens . This is where customer segmentation comes in.
Customer segmentation refers to the process of dividing customers into groups based on their characteristics, needs, and preferences. By segmenting customers, food delivery companies can better understand their customers’ behaviour and tailor their offerings to meet their specific needs. In this blog post, we will discuss how food delivery companies can use customer segmentation to their advantage.
Geographic Segmentation
One of the most basic forms of customer segmentation is geographic segmentation. This involves dividing customers based on their location. For example, a food delivery company operating in India can divide its customers based on areas in the city or region they are in. This allows the company to tailor its offerings to meet the specific needs and preferences of customers in each region.
For instance, customers in certain pockets of Mumbai may prefer spicy food, while other pocket customers may prefer milder flavours. By understanding these area wise differences, food delivery companies can offer menus that cater to the specific tastes of their customers. Moreover, they can also target their marketing efforts to specific regions for a specific kind of cuisine to increase their reach and visibility.
Demographic Segmentation
Another important form of customer segmentation is demographic segmentation. This involves dividing customers based on demographic variables such as age, gender, income, education, etc. For example, a food delivery company may find that its customers in the age group of 18-25 prefer fast food or trendy cuisines, while customers in the age group of 40-50 prefer traditional cuisine.
By understanding these demographic differences, food delivery companies can offer menus that cater to the specific needs and preferences of each demographic group.
Also, take ideas from our previous blog on: Consumer Profiling Can Help You Elevate Your Business in 5 Ways
Psychographic Segmentation
Psychographic segmentation is another important form of customer segmentation. This involves dividing customers based on their lifestyle, interests, and personality traits. For example, a food delivery company may find that its customers who are health-conscious prefer organic or low-calorie food, while customers who are adventurous may be more willing to try new and exotic cuisines.
By understanding these psychographic differences, food delivery companies can offer menus that cater to the specific needs and preferences of each psychographic group. They can also target their marketing efforts to specific psychographic groups to increase their reach and visibility.
Behavioural Segmentation
Behavioural segmentation involves dividing customers based on their behaviour or purchasing patterns. For example, a food delivery company may find that its frequent customers order food at least twice a week, while customers who have not ordered in a while may need a little incentive to come back.
By understanding these behavioural differences, food delivery companies can offer personalized discounts or loyalty rewards to their frequent customers to keep them coming back. They can also target their marketing efforts to customers who have not ordered in a while with promotional offers to entice them back.
Occasion-based Segmentation
Occasion-based segmentation involves dividing customers based on the occasion or reason for their order. For example, a food delivery company may find that customers ordering food for a party or special occasion may have different requirements and preferences than customers ordering food for themselves on a regular basis.
By understanding these occasion-based differences, food delivery companies can offer menus and packages that cater to the specific needs and preferences of customers for each occasion.
In conclusion, customer segmentation is an important strategy for food delivery companies to effectively cater to their customers’ needs and preferences.
Kentrix offers a simple solution which provides data up to an individual residential building precision.
Kentrix is an Inclusive Business Intelligence Platform for consumer data-driven solutions in B2C and D2C, operating on data of 91.5 crores of Indian consumers.
They are identified down to the precise residential place of living.
Geomarketeer from Kentrix is a granular market segmentation analysis tool. It supports companies in India with geo-location-based intelligence, using micro-market-focused data and tools to sustainably grow their business.
Also, take ideas from our previous blog on: How Data plays a key role in D2C businesses
By delivering this information on the Software as a Service (Saas) platform, Geomarketeer allows organizations of any size to quickly get started with market research and data-backed insights.
The important part of the tool is that it will not just allow you to check Customer-Product Affinities but also Understand where, up to an individual residential building precision, is the right target for a specific product.

April 5, 2023
Consumer Profiling Can Help You Elevate Your Business in 5 Ways
5 Ways Karma Can Help You Elevate Your Business Through Consumer Profiling

Increasingly for businesses the world over, consumer profiling is emerging as a powerful tool to gain insights into the behaviors, preferences, and needs of their customers. By analyzing data from various sources such as social media, e-commerce platforms, and mobile apps, businesses can gain a deeper understanding of their customers and tailor their marketing and sales strategies accordingly.

Karma by Kentrix is a comprehensive customer profiling and analytics tool that can help businesses gain insights into consumer behavior and preferences. In this article, we will explore 5 ways in which consumer profiling can help elevate your business, and how tools like Karma can help you achieve these goals.

Personalized Marketing in consumer profiling

One of the biggest advantages of consumer profiling is to help you create more personalized marketing campaigns that resonate better with your target audience. By analyzing customer browsing and purchase history, you can gain insights into their interests and preferences. You can then use this information to create targeted marketing campaigns that are more likely to convert. When a brand offers tailored experiences, consumers are 80% more likely to make a purchase, according to Epsilon. This shows the effectiveness of personalized marketing campaigns.

With Karma, businesses can gain deep insights into their customers’ buying patterns, preferences, and interests. This information can be used to develop marketing campaigns that are tailored to individual customers’ needs, resulting in better retargeting, and a more personalized and engaging experience. The software can segment customers based on various factors such as demographic information, past purchase behavior, and browsing history. Additionally, Karma enables businesses to track and measure the effectiveness of their marketing campaigns, allowing them to refine their strategies and optimize their ROI.

Customer Segmentation

Another important benefit is being able to segment your customers into different groups based on their behaviors and preferences. By analyzing data from various touchpoints, you can create customer profiles that are based on demographics, browsing behavior, purchase history, and more. This allows you to tailor your marketing efforts to specific segments of customers, increasing the effectiveness of your campaigns.

Karma’s customer analysis segmentation capabilities are powered by AI and ML algorithms that can identify patterns and correlations within customer data. This enables businesses to group customers into segments based on common characteristics. Once customers are segmented, you can then create targeted marketing campaigns that resonate with each group. For example, you can choose to show your ads to new parents from a certain income group only, knowing that new parents have previously made a purchase or shown interest within your product category. The chances of repeat purchases or of trying a new product will be higher in this case. You can also use customer segmentation to create customized product recommendations, loyalty programs, and targeted promotions.

Improved Customer Experience

Sentiment analysis is a technique that can be used to evaluate customer feedback and extract insights into their opinions, emotions, and attitudes toward a product or service. By analyzing customer sentiment, businesses can identify areas where they are performing well and areas where they need to improve to enhance customer experience.

With sentiment analysis through data collected over various digital touchpoints, you can:

Improve product and service offerings by understanding customer sentiments towards specific products and services and making data-driven decisions to provide a better customer experience.

Enhance customer support by analyzing sentiment in customer service interactions and identifying areas where your agents are performing well and areas where they need additional training.

Monitor brand reputation by observing sentiment across various social media channels and online review platforms, proactively addressing negative sentiment, and protecting brand reputation.

Karma offers sentiment analysis as one of its key features and uses natural language processing (NLP) algorithms to extract sentiment from customer feedback in real-time. This enables you to quickly identify issues and respond proactively to customer concerns as well as track sentiment trends over time, identify areas of improvement, and take corrective action to enhance customer experience.

Optimized Pricing Strategies

Consumer profiling can also help you optimize your pricing strategies by analyzing customer spending behavior. By understanding customer spend potential and willingness to spend on certain products or services, you can optimize your prices to maximize revenue.

Karma analyzes customer behavior, purchasing patterns, and market trends, to provide insights on the pricing points that will be most effective for a particular product or service. With this tool, you can understand customer engagement, sentiment, and purchase history, and use it to identify pricing strategies that are most likely to drive sales and increase customer loyalty. The platform can also help you determine which products or services are most profitable, and which may need to be adjusted to meet changing market conditions. A key feature of Karma is its ability to perform dynamic pricing, which allows you to adjust prices in real-time based on market conditions and customer behavior. This can help your business stay competitive and maximize revenue by offering the right price at the right time. With predictive analytics, Karma can help your business identify pricing trends and patterns over time, allowing you to adjust pricing strategies to better align with market conditions and customer preferences. By tracking these trends and patterns, you can make better-informed decisions on pricing, and improve your bottom line.

Fraud Detection

You can detect fraudulent activities through consumer profiling by identifying patterns and anomalies in consumer behavior that may indicate deceptive activity. By analyzing various data points such as purchase history, location, the device used, and other behavioral data, fraud can be detected before it causes significant financial losses to a business.

Karma can play a vital role in fraud detection through consumer profiling by providing advanced analytics tools that can identify unusual patterns and deviations in consumer behavior. Karma’s ML algorithms can analyze large datasets and provide insights into consumer behavior and flag suspicious behavioral changes. Additionally, Karma can also integrate with external fraud detection tools and provide a more comprehensive view of consumer behavior.

Consumer profiling has become a crucial aspect of any successful business strategy. It helps businesses understand their customers in a more meaningful way, leading to better decision-making and ultimately improving their bottom line. Karma Consumer Profile is a powerful tool that can help businesses of all sizes create comprehensive customer profiles by leveraging big data analytics. Businesses can then use this information to tailor marketing campaigns, personalized product recommendations, optimize inventory management, and improve customer service. The benefits of consumer profiling are clear, with increased customer satisfaction, loyalty, and profitability being just a few examples.

As the retail industry continues to evolve and consumer expectations change, businesses that fail to invest in consumer profiling risk being left behind. With the increasing amount of data available, now is the time to explore tools like Karma to unlock the full potential of consumer profiling and take your business to the next level.

If you would like to know more about the product, click here.
March 26, 2023
How Segura helps reduce payment defaults through its advanced customer risk identification
How Segura helps reduce payment defaults through its advanced customer risk identification
Payment defaults can be a significant challenge for businesses across industries, leading to lost revenue, strained relationships with customers, and additional administrative expenses. In such a scenario, customer risk identification can prove to be an effective solution. Segura by Kentrix is a leading provider of customer risk identification solutions that help businesses reduce payment defaults through advanced customer risk identification.

Impact of Payment Defaults on Business
When payments don’t turn up on time, businesses suffer majorly, especially those that rely on timely payments to maintain cash flow and financial stability. According to The 2022 Late Payments Report, nearly nine out of ten companies state that their typical invoice will be paid after the due date. When customers fail to pay their bills on time, or worse, default on their payments altogether, it can cause a ripple effect throughout the entire business.

A cash flow crisis is one of the most immediate impacts of payment defaults. Without the necessary cash in hand, businesses may struggle to pay their own bills and meet their financial obligations, which can result in late fees, penalties, and even legal action in extreme cases. This can damage the reputation of the business and impact its ability to secure future financing or credit

Payment defaults can also result in decreased profitability for businesses. Without timely payments, businesses may have to resort to collection agencies or legal action to recover the funds owed. This can be a costly and time-consuming process, which can further reduce the amount of revenue that the business is able to generate

Payment defaults can negatively impact the customer relationship. If a customer repeatedly fails to pay their bills on time or defaults on their payments, it can damage the trust and goodwill that the business has built with them. This can result in a loss of business in the long run, as customers may choose to take their business elsewhere

Challenges of Customer Risk Identification
While customer risk identification can be an effective solution for reducing payment defaults, it also presents some challenges for businesses, including:

Data Quality: Customer risk identification relies on accurate and comprehensive data. Businesses may face challenges in accessing and analyzing the necessary data to generate a comprehensive risk profile for each customer

Privacy Concerns: The use of customer data for risk identification purposes can raise privacy concerns among customers. Businesses must ensure that they are complying with relevant data protection regulations and implementing appropriate data security measures

Benefits of Customer Risk Identification
However, despite the challenges, implementing customer risk identification can provide a range of benefits for businesses:

Reduced Payment Defaults: By identifying customers at risk of default and taking proactive measures to address the risk, businesses can significantly reduce the incidence of payment defaults.

Improved Cash Flow: Payment defaults can cause cash flow problems for businesses, particularly for small and medium-sized enterprises (SMEs). By reducing payment defaults, businesses can improve their cash flow and financial stability.

Better Customer Relationships: By identifying and addressing customer risk factors, businesses can improve their relationships with customers and build trust.

Using Segura for Customer Risk Identification
Businesses can use Segura for customer risk management in several ways. First, they can integrate Segura’s API into their existing payment processing systems to gain real-time risk identification and assessment capabilities. This can help businesses identify high-risk customers and take necessary steps to reduce payment defaults. Additionally, Segura by Kentrix offers a range of risk indicators that businesses can use to evaluate the creditworthiness of their customers. These indicators include fraud risk, bankruptcy risk, identity verification, and more. Using Segura’s customer risk identification solution, businesses can also set customized risk thresholds based on their specific needs and risk tolerance. This allows businesses to tailor their risk management strategies to their unique customer base and business requirements.

How Customer Risk Identification helps Reduce Payment Defaults
Kentrix’s Segura offers businesses an advanced customer risk identification solution that can help them reduce payment defaults in the following ways:

Risk Assessment: Segura’s risk assessment feature allows businesses to identify high-risk customers by analyzing their payment behavior, financial history, and other relevant data. With this feature, businesses make informed decisions about extending credit to customers and reduce the risk of payment defaults

Early Warning System: The early warning system for customer risks feature alerts businesses when a customer’s payment behavior changes. For example, if a customer who usually pays on time starts missing payments or pays late, the system will alert the business. This helps businesses take proactive measures to avoid payment defaults

Credit Monitoring: With credit monitoring, businesses can keep track of their customers’ credit scores and credit histories, thereby identifying customers who may be at risk of defaulting on payments and taking appropriate measures

Payment Reminders: Segura’s payment reminder feature sends automated payment reminders to customers who have overdue payments creating a provision for businesses to collect payments on time and reduce the risk of payment defaults

By using Segura’s customer risk identification solution, businesses can reduce the risk of payment defaults and improve their cash flow. This, in turn, can help businesses improve their profitability and financial stability. Moreover, Segura uses various strategies to overcome the challenges of data quality and privacy concerns while dealing with customer risk identification with a robust data quality management that includes data cleansing, data validation, data enrichment, and data integration; strong data privacy and security measures through data encryption, access controls, and regular security audits; transparent data usage; compliance with relevant regulations and obtaining proper consent from customers for data usage and providing customers with the right to access, modify, or delete their data; and a data governance framework to ensure that data is managed in a consistent and controlled manner. To know more about the tool, click here.
March 16, 2023
Here’s how IKEA benefitted from Kentrix’s Geomarketeer and you can too
Here’s how IKEA benefitted from Geomarketeer by Kentrix and you can too
We will explore how you can be benefited from Geomarketeer by Kentrix, if you are planning to expand your business by opening new outlets in Indian cities, you need to be strategic and well-informed. India is one of the most diverse countries in the world – a melting pot of various cultures, languages, and regional nuances. Therefore, when setting up stores in this country, location is a crucial factor for success, and choosing the right one can make all the difference. IKEA, the world’s largest furniture retailer, has always been known for its innovative and customer-focused approach. With 460 stores in 62 markets, the company has a reputation for offering affordable and stylish furniture that appeals to a wide range of customers. However, when IKEA decided to expand its presence in India, it faced similar challenges when it came to location-hunting that required a unique approach. IKEA used India Location Analysis to determine the best locations for their new stores in Indian cities. This is where Geomarketeer from Kentrix stepped in. In this article, we will explore how IKEA benefitted from Kentrix’s Geomarketeer and how you can too.
What is Geomarketeer by Kentrix?
Geomarketeer by Kentrix is a location analytics tool that helps businesses make better decisions by providing them with valuable pointers on consumer behavior insights, competitor activity, and market trends. The tool uses cutting-edge technology to collect and analyze data from a wide range of sources, including social media, mobile devices, and other digital platforms. With Geomarketeer, businesses can gain a deeper understanding of their customer’s needs and preferences and make informed decisions that drive growth and profitability. How IKEA used Geomarketeer in India? IKEA’s entry into India was highly anticipated, with the company facing several challenges such as adapting to the local market, understanding customer preferences, and dealing with the country’s complex regulatory environment. It is a well-known fact that IKEA has used location analytics and market research extensively to guide its expansion into India. For example, prior to opening their first store in Hyderabad, IKEA conducted extensive research on the local market and consumer preferences, including analyzing data on customer behavior and preferences. They also conducted on-the-ground surveys and engaged with local communities to better understand their needs and desires. Additionally, IKEA utilized location analytics to determine the optimal locations for their stores in India. In this process, IKEA embraced Geomarketeer by Kentrix to help them with the following:

Identifying the right location: One of the ways IKEA used Geomarketeer was to identify the right location for its stores. With a vast and diverse population of over 1.3 billion people, India presented a unique challenge. The company needed to identify easily accessible, high-footfall locations with a high potential for growth. Using Geomarketeer’s location analytics tools, IKEA was able to analyze data on traffic patterns, consumer behavior, and market trends to identify the best locations for its stores.

Understanding customers: With a highly diverse population at hand, understanding customer preferences in India was critical to IKEA’s success. Using Geomarketeer’s consumer profiling tools, IKEA was able to gain insights into customer behavior, preferences, and needs, enabling the company to create more personalized marketing campaigns, segment its customers, and improve customer experience.

Competitor tracking: In addition to location analytics and consumer profiling, IKEA also used Geomarketeer to monitor competitor activity. With a highly competitive retail market in India, it was essential for IKEA to stay ahead of its competitors. Using Geomarketeer’s competitor analysis tools, IKEA was able to gain insights into the activities of its competitors, including their pricing strategies, product offerings, and marketing campaigns.

Benefits of using Geomarketeer IKEA’s success in India is a testament to how helpful Geomarketeer by Kentrix has been to its journey. By using Geomarketeer, IKEA was able to gain valuable insights into the Indian market, make informed decisions, and drive growth and profitability. In the same way, you too can utilize the tool to stay ahead of the competition in the Indian market. Apart from identifying optimal locations, understanding customers, and monitoring competitors, the way IKEA did, here are some other benefits that you are automatically entitled to when using Geomarketeer for your business:

Optimizing Product Offerings

Refining Marketing Strategies

Streamlining Operations

Enhancing Customer Experience

Replicating IKEA’s success IKEA’s location analytics team was looking to analyze data from various sources, including population density, income levels, and consumer behavior patterns, to identify the most promising locations for new stores, including the availability of transportation and accessibility. Geomarketeer helped them create a comprehensive map of India with all the cities marked, and the software pulled data on every single factor mentioned above for each city. They narrowed down the cities that met their criteria and used consumer profiling to gain insights into the behaviors, preferences, and needs of their target audience in each of these cities. Another key factor that IKEA considered while selecting store locations in India was population density. The team focused on cities with high population density, as these locations have a higher footfall, which leads to more sales. By using data-driven insights derived from Geomarketeer, the company was able to identify the most promising locations for new stores, which has helped them to be successful in the Indian market. Geomarketeer by Kentrix can help businesses replicate IKEA’s success by providing them with the tools they need to analyze data and make informed decisions about where to set up new outlets in Indian cities. If you too are looking to set up new outlets across Indian cities, click here to know more about the solution!
March 16, 2023
Consumer Profiling Can Help You Elevate Your Business in 5 Ways
5 Ways Consumer Profiling Can Help You Elevate Your Business
Increasingly for businesses the world over, consumer profiling is emerging as a powerful tool to gain insights into the behaviors, preferences, and needs of their customers. By analyzing data from various sources such as social media, e-commerce platforms, and mobile apps, businesses can gain a deeper understanding of their customers and tailor their marketing and sales strategies accordingly. Karma by Kentrix is a comprehensive customer profiling and analytics tool that can help businesses gain insights into consumer behavior and preferences. In this article, we will explore 5 ways in which consumer profiling can help elevate your business, and how tools like Karma can help you achieve these goals.

Personalized Marketing by consumer profiling

One of the biggest advantages of consumer profiling is to help you create more personalized marketing campaigns that resonate better with your target audience. By analyzing customer browsing and purchase history, you can gain insights into their interests and preferences. You can then use this information to create targeted marketing campaigns that are more likely to convert. When a brand offers tailored experiences, consumers are 80% more likely to make a purchase, according to Epsilon. This shows the effectiveness of personalized marketing campaigns. With Karma, businesses can gain deep insights into their customers’ buying patterns, preferences, and interests. This information can be used to develop marketing campaigns that are tailored to individual customers’ needs, resulting in better retargeting, and a more personalized and engaging experience. The software can segment customers based on various factors such as demographic information, past purchase behavior, and browsing history. Additionally, Karma enables businesses to track and measure the effectiveness of their marketing campaigns, allowing them to refine their strategies and optimize their ROI.

Customer Segmentation

Another important benefit is being able to segment your customers into different groups based on their behaviors and preferences. By analyzing data from various touchpoints, you can create customer profiles that are based on demographics, browsing behavior, purchase history, and more. This allows you to tailor your marketing efforts to specific segments of customers, increasing the effectiveness of your campaigns. Karma’s customer analysis segmentation capabilities are powered by AI and ML algorithms that can identify patterns and correlations within customer data. This enables businesses to group customers into segments based on common characteristics. Once customers are segmented, you can then create targeted marketing campaigns that resonate with each group. For example, you can choose to show your ads to new parents from a certain income group only, knowing that new parents have previously made a purchase or shown interest within your product category. The chances of repeat purchases or of trying a new product will be higher in this case. You can also use customer segmentation to create customized product recommendations, loyalty programs, and targeted promotions.

Improved Customer Experience

Sentiment analysis is a technique that can be used to evaluate customer feedback and extract insights into their opinions, emotions, and attitudes toward a product or service. By analyzing customer sentiment, businesses can identify areas where they are performing well and areas where they need to improve to enhance customer experience. With sentiment analysis through data collected over various digital touchpoints, you can:

Improve product and service offerings by understanding customer sentiments towards specific products and services and making data-driven decisions to provide a better customer experience.

Enhance customer support by analyzing sentiment in customer service interactions and identifying areas where your agents are performing well and areas where they need additional training.

Monitor brand reputation by observing sentiment across various social media channels and online review platforms, proactively addressing negative sentiment, and protecting brand reputation.

Karma offers sentiment analysis as one of its key features and uses natural language processing (NLP) algorithms to extract sentiment from customer feedback in real-time. This enables you to quickly identify issues and respond proactively to customer concerns as well as track sentiment trends over time, identify areas of improvement, and take corrective action to enhance customer experience.

Optimized Pricing Strategies

Consumer profiling can also help you optimize your pricing strategies by analyzing customer spending behavior. By understanding customer spend potential and willingness to spend on certain products or services, you can optimize your prices to maximize revenue. Karma analyzes customer behavior, purchasing patterns, and market trends, to provide insights on the pricing points that will be most effective for a particular product or service. With this tool, you can understand customer engagement, sentiment, and purchase history, and use it to identify pricing strategies that are most likely to drive sales and increase customer loyalty. The platform can also help you determine which products or services are most profitable, and which may need to be adjusted to meet changing market conditions. A key feature of Karma is its ability to perform dynamic pricing, which allows you to adjust prices in real-time based on market conditions and customer behavior. This can help your business stay competitive and maximize revenue by offering the right price at the right time. With predictive analytics, Karma can help your business identify pricing trends and patterns over time, allowing you to adjust pricing strategies to better align with market conditions and customer preferences. By tracking these trends and patterns, you can make better-informed decisions on pricing, and improve your bottom line.

Fraud Detection

You can detect fraudulent activities through consumer profiling by identifying patterns and anomalies in consumer behavior that may indicate deceptive activity. By analyzing various data points such as purchase history, location, the device used, and other behavioral data, fraud can be detected before it causes significant financial losses to a business. Karma can play a vital role in fraud detection through consumer profiling by providing advanced analytics tools that can identify unusual patterns and deviations in consumer behavior. Karma’s ML algorithms can analyze large datasets and provide insights into consumer behavior and flag suspicious behavioral changes. Additionally, Karma can also integrate with external fraud detection tools and provide a more comprehensive view of consumer behavior. Consumer profiling has become a crucial aspect of any successful business strategy. It helps businesses understand their customers in a more meaningful way, leading to better decision-making and ultimately improving their bottom line. Karma Consumer Profile is a powerful tool that can help businesses of all sizes create comprehensive customer profiles by leveraging big data analytics. Businesses can then use this information to tailor marketing campaigns, personalized product recommendations, optimize inventory management, and improve customer service. The benefits of consumer profiling are clear, with increased customer satisfaction, loyalty, and profitability being just a few examples. As the retail industry continues to evolve and consumer expectations change, businesses that fail to invest in consumer profiling risk being left behind. With the increasing amount of data available, now is the time to explore tools like Karma to unlock the full potential of consumer profiling and take your business to the next level. If you would like to know more about the product, click here.
March 16, 2023
How Data plays a key role in D2C businesses

How Data plays a key role in D2C businesses
In the world of business, data is considered to be one of the most valuable assets. With the rise of direct-to-consumer (D2C) businesses, data has become even more important. D2C businesses are those that sell their products directly to consumers, bypassing traditional distribution channels such as wholesalers and retailers. These businesses rely heavily on data to understand their customers, improve their products, and grow their businesses.
Data as the Key to Customer Insights
One of the most important roles of data in D2C businesses is customer insight. By collecting and analyzing data on customer behavior, preferences, and needs, D2C businesses can gain a deeper understanding of their target market. This information can then be used to develop products and marketing strategies that better meet the needs and wants of their customers. For example, a D2C processed food brand might use data on customer purchasing patterns to identify which flavors are most popular among their target market. This information can then be used to inform future product development, ensuring that the brand is offering the products that their customers want to buy.
Data can also be used to improve the customer experience.
D2C businesses often rely on their websites and digital platforms to sell their products, so it’s essential that these platforms are user-friendly and optimized for conversions. By analyzing data on website traffic, user behavior, and conversion rates, D2C businesses can identify areas where their digital platforms can be improved. This could involve optimizing the checkout process to reduce cart abandonment rates, improving website loading times to reduce bounce rates, or A/B testing different variations of website design to identify which version is most effective at driving conversions. Data is also key in Supply Chain Management In addition to customer insights and improving the customer experience, data can also be used to optimize supply chain management in D2C businesses. By collecting and analysing data on inventory levels, order fulfillment times, and shipping costs, D2C businesses can identify areas where they can improve efficiency and reduce costs. For example, a D2C cosmetic brand might use data on inventory levels to identify which products are selling the fastest and which are slower moving. This information can then be used to adjust production schedules to ensure that there is always enough inventory of the most popular products, while minimizing waste and reducing the need for excess inventory. Data can also be used to optimize shipping and logistics operations. By analyzing data on shipping times, delivery success rates, and shipping costs, D2C businesses can identify areas where they can improve efficiency and reduce costs. This could involve working with different carriers to find the most cost-effective shipping solutions, optimizing packaging and labeling to reduce shipping costs, or using data on delivery success rates to identify areas where improvements can be made. In addition to these benefits, data can also be used to drive growth in D2C businesses. By analysing data on sales performance, customer acquisition costs, and customer lifetime value, D2C businesses can identify opportunities for growth and develop strategies to capitalize on them. For example, an OTT Chanel might use data on customer lifetime value to identify which customers are most valuable and which are at risk of churning. This information can then be used to develop targeted marketing campaigns aimed at retaining these high-value customers and preventing churn. Overall, data plays a critical role in the success of D2C businesses. By collecting and analysing data on customer behavior, preferences, and needs, D2C businesses can gain a deeper understanding of their target market and develop products and marketing strategies that better meet their customers’ needs. As D2C businesses continue to grow and evolve, data will undoubtedly remain a key driver of success. New data solutions available in the market today: Kentrix offers a simple solution that provides data up to an individual residential building precision. Kentrix is an Inclusive Business Intelligence Platform for consumer data-driven solutions in B2C and D2C, operating on data of 91.5 crores of Indian consumers. They are identified down to the precise residential place of living. Geomarketeer from Kentrix is a granular market segmentation analysis tool. It supports companies in India with geo-location-based intelligence, using micro-market-focused data and tools to sustainably grow D2C businesses. By delivering this information on the Software as a Service (Saas) platform, Geomarketeer allows organizations of any size to quickly get started with market research and data-backed insights.

March 16, 2023
Identifying risk-free customers in a high-risk, negative pincode area?
Is there a safe way to identify risk-free customers in a high-risk, negative pincode area?
High-risk, negative pincode areas have a higher likelihood of fraudulent activity, chargebacks, or other negative events, resulting in increased costs and reduced profits for retailers. Customers from such areas who do not pose a risk of fraud are risk-free customers – valuable and hard to identify. These customers have a good payment history, a stable financial situation, and a low likelihood of returning or canceling an order. In the Indian retail context, identifying risk-free customers is critical for retailers looking to maximize their growth and profitability. By focusing their efforts on serving these customers, retailers can drastically improve their bottom line.
Challenges of Identifying Risk-Free Customers
While identifying these customers is important to enhance the business, the task is not an easy one. The most common challenges faced are:

Data Accuracy and Quality: Retailers often struggle to access accurate and up-to-date information about their customers. This can result in incomplete or outdated customer profiles, making it difficult to accurately determine the risk level of a customer.

Fraudulent Activity: Fraudulent activity is a common problem in high-risk, negative pincode areas. Retailers need to be able to detect and prevent fraud in real time, but traditional methods of customer identification are often insufficient in identifying potential fraudsters.

Chargebacks: Chargebacks can have a significant impact on a retailer’s bottom line, especially in high-risk, negative pincode areas. Retailers need to be able to accurately identify customers who are at a higher risk of chargebacks to minimize their financial losses.

Changing Customer Behavior: Customer behavior is constantly changing, and retailers need to be able to keep up with these changes to accurately identify risk-free customers.

Limited Resources: Retailers often have limited resources and budgets, making it challenging for them to invest in advanced technologies and solutions for customer identification.

Big Data and Customer Risk Identification With the advent of advanced technologies of AI and Machine Learning, most of these challenges can now be mitigated. Comprehensive analysis and processing of big data can help to efficiently identify risk-free customers thereby providing a competitive edge. Here are a few pointers for you as a retailer:

As a retailer, you need to understand that risk-free customers are not just those who have a good credit history. In high-risk pincode areas, other factors such as demographics, income levels, and spending habits can also play a significant role in determining whether a customer is likely to default on their payments. This is why you need to use big data analytics to collect and analyze data from multiple points and create a comprehensive profile of your customers.

Using data from social media platforms like Facebook, Twitter, and Instagram is a great way to gather consumer behavior insights to identify risk-free customers. This data can provide valuable information about customers, including their demographics, interests, and spending habits. The information can be used to create a comprehensive consumer profile, giving you a 360-degree view of their financial situation.

Another way to use big data to identify risk-free customers is by analyzing customer purchase history. By tracking past purchases, you can get a good understanding of customer expenditure behavior and identify those who are likely to be low-risk. This information can be used to create targeted marketing campaigns, customized product recommendations, and more.

A huge benefit of using big data for customer profiling is the ability to process large amounts of data in real time. This enables you to quickly identify trends and patterns in customer behavior and respond to the changes accordingly by making the necessary adjustments to your offerings.

Predictive analytics can be used for identification since it uses historical data and algorithms to identify patterns and make predictions about future behavior. In the case of customer risk assessment, predictive analytics can be used to identify those customers who are most likely to default on their payments. By analyzing factors such as customer purchase history, demographics, and spending habits, retailers can create a risk score for each customer and identify those who are low-risk.

You can implement an early warning system for customer risks. This is a solution that helps you recognize potential risks associated with customers by using AI and ML. By identifying potential red flags, such as suspicious behavior or a history of chargebacks, the early warning system helps you take proactive measures to mitigate risk and make informed decisions about your customer base.

The Solution You are Looking for Segura by Kentrix is a comprehensive customer risk identification solution designed to help retailers mitigate the risks associated with conducting business in high-risk, negative pincode areas. The solution leverages big data analytics, machine learning algorithms, and other advanced technologies to help retailers identify risk-free customers and minimize their exposure to fraud and chargebacks. With Segura, retailers can access real-time data and analytics on their customers, helping them to make more informed decisions and reduce their risk of fraud and chargebacks. The solution also offers a range of tools and features including early warning signals, risk assessment, real-time monitoring, and incident management. If you are looking for help with customer risk identification, click here to know more about Segura!
February 10, 2023
The 3 Products and Solutions We Offer – Kentrix
The 3 Products and Solutions We Offer – Kentrix
Kentrix is an inclusive Consumer Intelligence platform for consumer data-driven solutions in B2C and D2C. With data of 91.5 Indian Consumers that can be identified down to individual residential building precision, Kentrix is a powerful business intelligence enabler. KENTRIX big data is real-time and constantly evolving, made available in SaaS-based software solutions.
Kentrix Products and Solutions
GEOMARKETEER Geomarketeer is a granular market segmentation analysis tool that helps companies in India with geo-location-based intelligence, using micro-market-focused data and tools to sustainably grow their business. Benefits of Geomarketeer:

Easy-to-use Online System

Subscription to geographies you need

‘Private Room’ – Users create their private access login: No third party is involved in analytics or having access to the user‘s data space

Data queries in real time

Uploading Data: Analytics networking company’s own and external market data.

Generate location reports

KARMA Karma is a product that enhances individual customers by consumer profile of income, lifestyle affinity, and expenditure behavior for deeper client profile understanding. It supports sharp, targeted up-sell and cross-sell campaigns. Benefits of Karma:

Consumer Profiling – Define your target customer archetype to better target your products.

Economic potential – Understand the spending capacity and affluence of an individual customer or prospect.

Customer-product affinities – Understand 1:1 who your customer is and take it forward accordingly.

SEGURA Segura helps in customer risk identification. Early Risk Identification for default behaviour in financial products, such as loans – cards/credits, can help lenders. With Segura, they will be able to utilize customer consumer profile identification based on income, psychographics, and product purchase behaviour patterns in all relevant categories. Benefits of Segura:

It complements bureau scores through overlay heat maps on delinquency profiles, customer behaviour, and income levels.

It helps in a more robust credit assessment that results in a more accurate approval/rejection percentage.

It identifies negative areas and green zones within the same pin code. This helps in gaining higher customer reach and sales force productivity.

It aids the credit team in micro market policy formulation based on geography to identify pre-qualified areas.
February 9, 2023
What are the changing trends in Consumer Behaviour?

What are the changing trends in Consumer Behaviour?

The post pandemic years have created a new lifestyle for the Indian consumer . This has in turn changed how the consumer shops, and what the consumer purchases. Understanding this change in consumer behaviour has become even more critical for new brands in the market as well as established brands.

The same customer has a different set of choices now and has learnt newer ways through different channels to fulfil her choices.

The huge jump that we have seen in smartphone usage has inﬂuenced when and how consumers make purchases. This has led to the biggest change in consumer behaviour. When looking for a consumer need, the phase of discovery itself has thrown up a wide range of options. All it takes is a simple smartphone search that will give them a wide range of options, that can help cater to their needs. And the detailing about the product is now much more elaborate. An interest piece of information that 90% of online buyers discover their product on YouTube. This itself amounts to a huge change in consumer behaviour. The reason for this is also that the information about the product that is provided on video is far more elaborate, as it generally come from a person who has specialist in the subject.

This change in consumer behaviour has in turn changed the entire buying process. Consumers can now discover new products, compare features, read customer reviews, and make conscious decisions.

How product reviews influence consumer behaviour

Given the wide range of choice that the customer now has easy access to, a new step in consumer behaviour is to understand who are the other users of this product.

Unlike endorsers whom the consumers saw as mega stars, who were seen as a person whose values may be linked to the brand but was not necessarily the brand user , the influencer is seen as being much closer to the real use of the product.

Endorsers have other real world skills (like sports or cinema )that give them a mega follower base. Influencers in turn are people who have interest in that category but may not be seen as huge public personalities.

In categories ranging from technical products like mobile phones where influencers like MKBHD to Gadget Guru Rajiv Makhni have a huge following , to a simple beauty cream, an influencer has a detailed opinion on the product which in turn does influence the consumer product purchase.

Statistics tell us that and 64% of consumers in India made purchases based on an influencers or online review.

A new step before you press the ‘Shop Now’ button.

An important step in the change in consumer behaviour is about getting opinions and reviews about that specific product.

Before “checking out” from their online shopping basket or visiting their nearby store, the customer can quickly browse social media sites and search engines to learn more about the products.

The new trend in consumer behaviour is to send images of selected products to the ones whose opinion you would want and in turn get their opinion before purchase. In categories like fashion, trial room pics are sent to friends and family for their opinion and only when you get the thumbs up sign is when the purchase is made.

What is the right way to understand Consumer Behaviour?

Getting into the market without understanding consumer behaviour can actually prove fatal for the brand. Hence the search for a good data platform that will help you reach the right customer.

We discovered KENTRIX big data, which is real-time and constantly evolving customer data solution that can drive highly successful business decisions.

Kentrix is an inclusive Business Intelligence platform for consumer data-driven solutions in B2C and D2C, operating on data of 91.5 crores of Indian consumers which has profiled each household within this big data spectrum into their monthly income (Economic Segmentation), rational and insightful psychographics derived from spending habits and lifestyle affinities (Lifestyle Segmentation), and expenditure behaviour across 40+ spend categories such as housing, health care and medical, financial savings, apparel, food and FMCG, entertainment and more.

What will help you get the right consumer behaviour is their consumer lifestyle affinity or psychographic segmentation which decodes the psychological aspects influencing consumer purchase behaviour. It explains attitudes towards what products and services a person will value and spend money for.

Kentrix uses data experiences of more than 80 different collection touch-points – transaction-based data, household surveys, and qualitative market research data.

February 9, 2023
How accurate Customer Profiles build profitable businesses

Customer Profiles build profitable businesses

The starting point of a service is always the customer. The customer is a person who will exchange monies for your goods or services. To be able to decide who you should target as a customer it is first important to understand what is the customer profiles you are targeting.

The key stakeholder, who needs to understand in depth what customer profiles mean, is the Business Head.

Demographic data is a shallow way of looking at a customer profiles. Just data, as is available on the age , sex and income profiles of residents of different geographies is not an efficient way to understand how to make your business more profitable or for that reason, even to answer the question of what should be the target markets while you establish your business.

Imagine building a business plan for a new processed food item in the premium pricing segment. It is important to understand not just the age , sex and income profiles but also need to understand the affinity of the target group for processed foods . It is important to understand the overall affinity of the locations that the brand is looking at targeting, for multiple categories including luxury goods. It would also be important to understand the customer’s exposure to cultures outside of their own, either through travel or by cultural exchanges in the form of art .

Getting pin code wise demographic data through the National Census is not a difficult task. The National Census will provide you with basic population characteristics including age, sex, marital status, household composition, family characteristics, and household size. The national census being a laborious process that is supposed to cover people residing in each and every part of the country is a process that is conducted in India every ten years. Having the advantage of reasonable accuracy and ease of availability, this data then becomes the starting point for many different activities.

The question that we have in front of us is, if this data is sufficient to create a profitable business plan?

This information is provided by consumer profiling, where the intent of the customers is also available as a part of the data.

Consumer Profiles provide key information about the consumers and their interaction with the business. Customer profiles can tell you about the customer mindset and that in turn can help companies make decisions of placing different product variants, particular SKUs and preferred delivery time. While traditional brick & mortar businesses find this of tremendous value, this is especially critical for the new rising D2C businesses.

In fact the granularity of the data that is required to be used today for micro targeting has to define customer profiles much deeper than just the the pin code level. It is important to understand the customer profile not just by area or sub area, but also by the understanding customer profiles for each household in residential buildings.

Once the business has been set up , especially in the D2C channel , there is independent customer profile data that is generated through the transactions which define the buying patterns of customers. Understanding these customer profiles can build data that will help brands understand who is the impulsive, need based and the loyal customer. The most often used metrics for this customer profile development is through the RFM model. Recency and Frequency of the purchase as well as the Monetary value can help create distinct customer cohorts. These cohorts in turn can be used for cross selling or upselling and are a good way to track the churn of customers.

Discover consumer profiles with Kentrix.

We suggest Kentrix, which has data availability for 91.5 crores of Indian consumer. This can be a gold mine for businesses . These are complete consumer profiles which include understanding of consumer intent.

Geomarketeer by Kentrix is a granular market segmentation analysis tool. It supports companies in India with geo-location-based intelligence, using micro-market-focused data and tools to sustainably grow their business. By delivering this information on the Software as a Service (Saas) platform, Geomarketeer allows organizations of any size to quickly get started with market research and data-backed insights.

This data has been identified down to the precise residential place of living. This makes the data extremely insightful for building profitable B2C and D2C businesses.

February 9, 2023