Segmentation that fuels and streamlines business growth

It goes without saying that the ways and complexities of customer retention and engagement in non-contracting business are by-and-large different from those pertinent to the contracting one. But the more interesting part here is that there are no same patterns for non-contracting businesses across different industries. It rather works quite the opposite, especially if the volatility of customers' behaviors is driven not only by the very product / service they get but also by external matters of impact. For instance, when it comes to the crypto ATM industry, these may include but are not limited to: pricing fluctuations, macroeconomic changes, regulations, and so on.

So how to deal with all this and use it as an opportunity to sustain and streamline business growth for the crypto ATM operators? A few immediate thoughts come up to the top of my mind here:

1. Nuanced but reasonable segmentation of the customers themselves - that's the take-off point for breaking down the customer portfolio into baseline largely similar behavioral groups (i.a. based on the frequency of transactions, amounts spent, etc.)
2. Delving down to the roots of each customer's activity, namely - pawing the winding curve of the lifetime of customers in every segment you have. That's where the customer centricity starts, and that's where you find additional meaningful insights to help you treat your customers even better.
3. Location profitability analysis - the exercise that on one hand helps to clearly identify high- and low-performing machines and map those to your customers. And on the other, it enables you to get an even better knowledge of your customers' preferences and capture insights for a more rational cost of sales spending.
4. Figuring out practical responses to the identified needs, issues, and non-plain view potential - both targeted on specific customers and selected segments as well as on the wide masses (i.a.: a personal touch, loyalty stuff, early adopters' initiatives, bespoke offerings, etc.)
5. Ongoing monitoring of changes across the individual customers, segments, and the portfolio as a whole and introducing necessary re-shapes and adjustments to the way you treat them.

At first sight, all that may sound heavy and onerous. But actually, it's more about the smooth injection of the right boosters and enhancements to the existing operations of your sales, marketing, infrastructure, and analytics team to help them serve and embrace the customers so that they get higher inclined to give you much more in return - in terms of gross profit, loyalty, care, and brand promotion.

And it's not just a one-off exercise, it's a structured ongoing work alongside other operational activities aimed at building strong customer centricity and enabling a distinctive stance and visibility on the emerging and highly competitive crypto ATM market.