carrot carrot carrot Change Centers x cognizanti collaborators create-folder Data Science Decisive Infrastructure download download edit Email exit Facebook files folders future-of-work global sourcing industry info infographic linkedin location Mass Empowerment Mobile First our-latest-thinking pdf question-mark icon_rss save-article search-article search-folders settings icon_share smart-search Smart Sourcing icon_star Twitter Value Webs Virtual Capital workplace Artboard 1

Please visit the COVID-19 response page for resources and advice on managing through the crisis today and beyond.

No Results.

Did you mean...

Or try searching another term.

Customer Segmentation in Banking

What is customer segmentation in banking?

Customer segmentation is the approach of dividing a large and diverse customer base into smaller groups of related customers that are similar in certain ways and relevant to the marketing of a bank’s products and services. Some basic segmentation criteria include geography, income and spending habits. Through customer segmentation, banks can get to know their customers on a more personal level and offer them more tailored products and services.

What are the business benefits of customer segmentation in banking?

Customer segmentation is often a top marketing priority for banks, and for good reason. Because segmentation solutions help banks group customers by behavior, they can offer more tailored products and services. Moreover, by better understanding customer preferences, marketers can maximize cross and up-selling opportunities and encourage customers to explore related services. Other ways that segmentation can help banks:

  • Decide on the right kind of promotional content to send each customer
  • Select the right marketing channels for the right audience
  • Identify new and profitable segments and launch innovative products and services

Customer Segmentation in Banking Featured Content
Cognizant BigDecisions®: Find and Solve Complex Business Issues
When Digital and Offline Worlds Collide, the Impact Is Big
The 2020 Customer Experience

Back to

Glossary
Industries
Services
Consulting
Latest Thinking
About Cognizant
Glossary
Information for Suppliers