How to acquire new customers with statistical twins

Addressing existing customers in a personalized way is child's play. A wealth of data is available about them, which retailers can use to make suitable recommendations. It is more difficult with new customers, about whom no information has yet been collected. Nevertheless, a personalized approach is possible with the help of segmentation. More precisely, with statistical twins.

Twins are often said to feel or think the same in certain situations. Besides, twins not only look very similar, it's not uncommon for them to have the same tastes in some things. Of course, this magic cannot be transferred 1 to 1 to e-commerce. Nevertheless, it has been found that users with similar behavior are often interested in the same items and also frequently place the same products in the shopping cart.?

What is meant by segmentation and “statistical twins”??

Segmentation means creating groups from the totality of potential customers on the basis of common characteristics. The assumption is that users in a particular segment have similar expectations and needs. Accordingly, they also react very similar to certain measures. The goal of segmentation is to address and serve customers more profitably in the long term. A segment is always made up of two components. The first is the customer's classifiability: why was he assigned to the segment? And secondly, the feasibility of the measure: with which strategy the customer can be addressed most efficiently. Segments can be formed in different ways and according to numerous criteria.?

In online marketing, statistical twins are users whose behavior is similar to that of already converted users, i.e., users who have already bought some products. Marketers hope that due to their similarity to existing customers, they are more likely to make a purchase.

Statistical twins can consider different characteristics depending on the objective. Typical characteristics are, for example:

Time and geo data

Segmentation by geographic characteristics enables targeted addressing depending on the user's location or even the local weather. Geotargeting gives marketers the opportunity to show users products, offers, and teasers that most closely match their current needs, such as warm jackets when it's snowing or special offers according to their region.?

Source of origin/click-in channel of the user?

This criterion can also be used to address unknown users in a personalized manner, even though not much is known about them. It is traced back via which channel the users reached the website of the online store. This can be the newsletter, a social media campaign or Google search, for example. Depending on where they come from, the approach also looks different.?

Buying and surfing behavior?

Visitors can also be segmented according to their behavior. The general behavior on the website can be taken into account, but also the buying behavior of the customer. It is interesting to know how the user behaves in the web store, how many pages he visits, on which he left the store, what he puts in the shopping cart and much more.

How to create statistical twins

Step 1: Identify the best customer

First, analyze your existing customer base to identify your most valuable and loyal customers. Look for patterns in their demographics, buying behavior, and other relevant characteristics.

Step 2: Create customer profiles

Once the best customers have been identified, create a customer profile that includes all relevant characteristics. It helps to identify statistical twins that match this profile.

Step 3: Use data analytics tools

With a large and very diverse customer base, data analytics tools can help identify statistical twins. With these tools, you can find customers who share similar characteristics to your existing customers.

Step 4: Target marketing efforts

Once statistical twins are identified, marketers should target their marketing efforts to this customer group. Personalized messages and offers grab their attention and motivate them to buy.?

Step 5: Monitor and analyze results

The results of marketing efforts should be tracked and analyzed. Also, the buying behavior should be monitored closely, so changes can be addressed in a timely manner. This helps in creating future efforts and improves the customer acquisition process.?

Why retailers should not do without statistical twins?

Using statistical twins can be an effective way to acquire customers and thus grow your business. By targeting customers who share similar characteristics to your existing customers, you can increase the likelihood of success and generate more revenue. By showing suitable offers, users get the feeling of being understood by the web store. It seems as if he is interested in their interests and takes their needs into account. New customers may convert to existing customers.