Unlocking the Power of Custom Segmentation with Experian

In today’s competitive market, understanding and describing your customers is more crucial than ever. The most successful way to achieve this is through segmentation. At Experian, we believe that effective segmentation should simplify our clients’ lives, which is why we developed Custom Mosaic, combining the best parts of Mosaic, first-party data, and market research. In this blog, we’ll explore what Custom Mosaic is and how it differs from more traditional segmentation approaches.

Challenges When Choosing the Right Segmentation

Businesses want a segmentation solution that maximises the value of their customers. A segmentation solution should speak to their industry, consider customer behaviour and should be an actionable business-wide common language.

Experian’s Custom Mosaic solution achieves these goals through combining the operational ease of Experian’s Mosaic, the tailored insights of market research, and the behavioural attributes of first-party data.

Built on factors that ensure businesses can maximise the value they gain from segmentation, it offers:

• Relevance: More data inputs that power a segmentation which speaks your language.
• Manageability: Making the goal of finding the valuable segments and those that offer the biggest opportunity clearer by building the right number of segments for your business.
• Actionability: Enhanced CRM tagging, market sizing and digital connectivity.

This innovative solution unlocks the scale, granularity and actionability that has made Mosaic a powerful and effective segmentation solution. Many of the biggest organisations in Australia across retail, telecommunications, finance, non-profits, and other industries leverage Mosaic’s renowned breadth of market data, operational ease, and digital and location connectivity.

Leveraging industry data, and our client’s first-party data, Experian has developed an approach that overcomes the many limitations and challenges that attitudes and needs based personas, and first-party data segments based on recency, frequency, and value face.

By combining Mosaic’s market leading understanding of the consumer marketplace with additional data focussed on our client’s specific segmentation goals, Custom Mosaic ensures the delivery of a segmentation solution that delivers:

• Ensure you have a consistent way of describing your customers.

  Operational Efficiency: A segmentation solution that can be applied and integrated across systems and departments.
• Maximum Linkage: The ability to connect segments beyond the existing known customer universe and leverage across the wider market or new customers.
• Cohesion: A segmentation built to become a business-wide common language that spans multiple use cases across different teams.

Real-World Example

To illustrate, consider a fictional example for McDonald’s.

Customer A is classified as a ‘Comfortable Foundation’ in Mosaic or a ‘McFamily Comfort’ in Custom Mosaic. Both options include all the underlying factors that make Mosaic successful, and both are stable and consistent methods to describe your customers. However, Custom Mosaic offers more relevance and clarity for a client, making it easier to interpret and enhancing adoption across your business. Ultimately, it provides a bespoke outcome that is cost-effective, quick to realise, and easy to maintain.

In addition, clients often prefer fewer segments as they are more manageable and can better differentiate between golden and opportunity segments. By influencing the build, we can design it to meet these preferences. Instead of dealing with 14 Mosaic Groups and 52 Mosaic Types, we streamline the process to 4-8 segments. This approach provides clarity on priority versus non-priority segments, making it easier for clients to focus resources on those segments with the greatest potential. For McDonald’s, this means that one segment accounts for a third of their customers, whereas with Mosaic, 2-3 segments would account for a similar proportion.

Why Clients Choose Custom Mosaic

More and more clients are turning to Custom Mosaic for its tailored and relevant segments that gain better buy-in across the business. Whether it’s to unify multiple segmentations or to leverage first-party data specific to their industry, Custom Mosaic provides a consistent and stable solution.

Taking the example above, it’s clear why McDonalds would be familiar and excited with their ‘McFamily Comfort’ segment, and why that segment matters to them. It becomes an easier sell to the business. For campaign operations, personalisation becomes more straightforward. For network planning, focusing on sites with these segments becomes appealing. For product design, creating products aligned with these segments becomes more effortless. Ultimately, the ability for each team to use the segmentation is enhanced with relevant and relatable language, while maintaining the same business-wide actionability achieved through Mosaic.

Take the Next Step

If you’re ready to elevate your segmentation strategy, reach out to us today. Let Experian help you unlock the full potential of your customer data with Custom Segmentation.

Contact Us Today!

A note on custom research personas: We have helped many organisations overcome operational barriers by leveraging Mosaic and our suite of household-level variables called ConsumerView. Our data has proven highly effective in modelling market research personas onto clients’ CRMs, geographically and into paid media channels. Get in contact if this is a challenge you’re facing!