Customer segmentation is the process which divides the customer into various groups so that it becomes easy for an organisation to effectively distinguish their target market. The global energy market is valued at $52.5 billion dollars in 2018 and the energy projects to reach $223.3 billion by 2026, growing at a CAGR of 20.5% from 2019-2026.. Thus there are a lot of potential customers lying in the market. Segmentation of the consumers can be done on the following points:
Smart growing needs: How to understand the relation with customers, define where the utility needs to be grown ( i.e. overall design, targets, companies measures, understanding the market needs). Create effective awareness messages which spread the knowledge & will help in generating leads and target those customers who have no knowledge about how to conserve electricity by reducing their light bill by making them a solar offering.
By researching for new Ideas: By carrying out surveys in various regions and markets, we can get a good overview of the market and can cater to their needs. Market research will help us a lot in segmenting the market more accurately. It also depends on the demographic from where we are collecting the response.
Mining of customer data:It is done so that we can get reviews, feedback, lifestyle, attitude, interests of our previous customers.VAL “Value & lifestyle* These are two commercial available segments of customer based on attitudinal variables, such as VALs which is a segmentation scheme created by SRI International Customer based on similar attitude will exhibit similar behaviour and it depends on how the responses are based on the questions asked.