Marketing Segmentation: Key to more traffic

December 31, 2021

Market segmentation is a marketing strategy that splits a target market into smaller, more defined groups, allowing a business to do more in-depth consumer research. By participating in market segmentation, researchers may learn about consumer experiences, product development innovation strategies, ideas for enhancing customer loyalty, and more.

Importance of Marketing Segmentation

We all know that market segmentation helps us better understand our consumer base, but what can we do with that knowledge? Market segmentation gives a wealth of useful information with potential commercial consequences. Some of the outputs are as follows:

  • Unlocking new competitive advantages 

By presenting new markets for enterprises to investigate, market segmentation can help us unleash competitive advantages. We can uncover unexplored and expanding markets with little competition using the information collected from this strategy. Markets with rapid growth and low rivalry assist the organization in expanding its customer base and, ultimately, driving product discovery.

  • Improving the product development process

Organizations may boost their product development process by using market segmentation. Product teams may design solutions that address the pain points of new segments by identifying them and learning about their requirements. Subsequently, depending on how unique the product or service is, it may face little or no competition. One strategy to cope with the competitive issues that a niche may face is to provide product recommendations and ideas.

  • Optimizing campaign performance

Market segmentation insights may assist marketing teams in actively marketing by providing targeted messages that boost campaign communications. Most significantly, market segmentation analytics enable teams to make more informed decisions, lowering media costs and increasing campaign efficiency.

How can market segmentation lead to better marketing?

Market segmentation may help you improve the efficacy of your marketing campaigns by allowing you to target the right people with the right message at the right time. Segmentation may help you discover more about your target audience and personalize your message to their tastes and requirements. Market segmentation is a risk management technique that involves determining which goods have the best chance of capturing a share of a target market and the best ways to distribute those products to that market.

Tips for effective market segmentation 

If more than one market segmentation looks to be useful to your business, you're on the right track. Most firms use a combination of segmentation tactics to increase attention.
Keep the following three elements in mind as you construct your market segmentation strategy:

  1. Make sure the factors you're using for segmentation are quantifiable. You must assess and analyze segment performance and compare the findings to develop an effective plan.
  1. Select factors relevant to the buyer's journey and have the potential to influence the purchase decision. Assume you're selling swimsuits. Marketing would be more successful if it is segmented by gender. However, if you offer a streaming service, gender may be irrelevant, and you should focus on behaviour-based categories like device distribution and session duration.
  1. Track and improve segment performance. Segment content or experiment with alternative marketing channels. Individual prospects may migrate from one segment to another as they progress down the funnel due to changing behaviours or preferences.

How to Conduct Segmentation Research

In addition to the segmentation divisions, market segmentation may be broken down into four phases in a more common market research technique.

1. Establish a goal.
What is the objective of this market segmentation strategy? Create a hypothesis based on your findings by identifying client segmentation models and factors (as well as those that pertain to your unique market).

2. Recognize consumer groups
Create a plan, collect information, analyze the results, and create segments. This stage will either partially validate or disprove your hypothesis.

3. Assess the target market
You have various possible clients to pick from; therefore, you must select the most feasible alternative and proceed with your product from there.
Consider this a service you're providing to your potential customers. Your company will be able to give a better-tailored product or service if you can find the most specific use case. Instead of seeing your company as a selling point, think of it as a resource.

Market segmentation may be done in a variety of methods at this stage. An online focus group is a convenient way to learn about new market segments.

4. Create a segmentation plan for your market.
Select a target segment or persona, as well as the desired objectives for that group or persona. Make judgments based on your target market, project objectives, market viability, and product status. Use PowerPoint templates to capture and communicate your marketing segmentation strategy effectively.

5. Create a launch strategy
Identify key stakeholders, devise and explain an internal launch strategy, and then carry out the project utilizing your target segments.

Conclusion

Keep the more remarkable brand or marketing in mind while collecting enormous volumes of market segmentation data. Combine the efforts of many methods to describe your consumer groups rather than depending on one or two unique techniques. This provides researchers with a comprehensive view of their target clientele.
Companies may use marketing segmentation to design and optimize future items and advertise them to customers in the future.

Latest Blogs
This is a decorative image for Project Management for AI-ML-DL Projects
June 29, 2022

Project Management for AI-ML-DL Projects

Managing a project properly is one of the factors behind its completion and subsequent success. The same can be said for any artificial intelligence (AI)/machine learning (ML)/deep learning (DL) project. Moreover, efficient management in this segment holds even more prominence as it requires continuous testing before delivering the final product.

An efficient project manager will ensure that there is ample time from the concept to the final product so that a client’s requirements are met without any delays and issues.

How is Project Management Done For AI, ML or DL Projects?

As already established, efficient project management is of great importance in AI/ML/DL projects. So, if you are planning to move into this field as a professional, here are some tips –

  • Identifying the problem-

The first step toward managing an AI project is the identification of the problem. What are we trying to solve or what outcome do we desire? AI is a means to receive the outcome that we desire. Multiple solutions are chosen on which AI solutions are built.

  • Testing whether the solution matches the problem-

After the problem has been identified, then testing the solution is done. We try to find out whether we have chosen the right solution for the problem. At this stage, we can ideally understand how to begin with an artificial intelligence or machine learning or deep learning project. We also need to understand whether customers will pay for this solution to the problem.

AI and ML engineers test this problem-solution fit through various techniques such as the traditional lean approach or the product design sprint. These techniques help us by analysing the solution within the deadline easily.

  • Preparing the data and managing it-

If you have a stable customer base for your AI, ML or DL solutions, then begin the project by collecting data and managing it. We begin by segregating the available data into unstructured and structured forms. It is easy to do the division of data in small and medium companies. It is because the amount of data is less. However, other players who own big businesses have large amounts of data to work on. Data engineers use all the tools and techniques to organise and clean up the data.

  • Choosing the algorithm for the problem-

To keep the blog simple, we will try not to mention the technical side of AI algorithms in the content here. There are different types of algorithms which depend on the type of machine learning technique we employ. If it is the supervised learning model, then the classification helps us in labelling the project and the regression helps us predict the quantity. A data engineer can choose from any of the popular algorithms like the Naïve Bayes classification or the random forest algorithm. If the unsupervised learning model is used, then clustering algorithms are used.

  • Training the algorithm-

For training algorithms, one needs to use various AI techniques, which are done through software developed by programmers. While most of the job is done in Python, nowadays, JavaScript, Java, C++ and Julia are also used. So, a developmental team is set up at this stage. These developers make a minimum threshold that is able to generate the necessary statistics to train the algorithm.  

  • Deployment of the project-

After the project is completed, then we come to its deployment. It can either be deployed on a local server or the Cloud. So, data engineers see if the local GPU or the Cloud GPU are in order. And, then they deploy the code along with the required dashboard to view the analytics.

Final Words-

To sum it up, this is a generic overview of how a project management system should work for AI/ML/DL projects. However, a point to keep in mind here is that this is not a universal process. The particulars will alter according to a specific project. 

Reference Links:

https://www.datacamp.com/blog/how-to-manage-ai-projects-effectively

https://appinventiv.com/blog/ai-project-management/#:~:text=There%20are%20six%20steps%20that,product%20on%20the%20right%20platform.

https://www.datascience-pm.com/manage-ai-projects/

https://community.pmi.org/blog-post/70065/how-can-i-manage-complex-ai-projects-#_=_

This is a decorative image for Top 7 AI & ML start-ups in Telecom Industry in India
June 29, 2022

Top 7 AI & ML start-ups in Telecom Industry in India

With the multiple technological advancements witnessed by India as a country in the last few years, deep learning, machine learning and artificial intelligence have come across as futuristic technologies that will lead to the improved management of data hungry workloads.

 

The availability of artificial intelligence and machine learning in almost all industries today, including the telecom industry in India, has helped change the way of operational management for many existing businesses and startups that are the exclusive service providers in India.

 

In addition to that, the awareness and popularity of cloud GPU servers or other GPU cloud computing mediums have encouraged AI and ML startups in the telecom industry in India to take up their efficiency a notch higher by combining these technologies with cloud computing GPU. Let us look into the 7 AI and ML startups in the telecom industry in India 2022 below.

 

Top AI and ML Startups in Telecom Industry 

With 5G being the top priority for the majority of companies in the telecom industry in India, the importance of providing network affordability for everyone around the country has become the sole mission. Technologies like artificial intelligence and machine learning are the key digital transformation techniques that can change the way networks rotates in the country. The top startups include the following:

Wiom

Founded in 2021, Wiom is a telecom startup using various technologies like deep learning and artificial intelligence to create a blockchain-based working model for internet delivery. It is an affordable scalable model that might incorporate GPU cloud servers in the future when data flow increases. 

TechVantage

As one of the companies that are strongly driven by data and unique state-of-the-art solutions for revenue generation and cost optimization, TechVantage is a startup in the telecom industry that betters the user experiences for leading telecom heroes with improved media generation and reach, using GPU cloud online

Manthan

As one of the strongest performers is the customer analytics solutions, Manthan is a supporting startup in India in the telecom industry. It is an almost business assistant that can help with leveraging deep analytics for improved efficiency. For denser database management, NVIDIA A100 80 GB is one of their top choices. 

NetraDyne

Just as NVIDIA is known as a top GPU cloud provider, NetraDyne can be named as a telecom startup, even if not directly. It aims to use artificial intelligence and machine learning to increase road safety which is also a key concern for the telecom providers, for their field team. It assists with fleet management. 

KeyPoint Tech

This AI- and ML-driven startup is all set to combine various technologies to provide improved technology solutions for all devices and platforms. At present, they do not use any available cloud GPU servers but expect to experiment with GPU cloud computing in the future when data inflow increases.

 

Helpshift

Actively known to resolve customer communication, it is also considered to be a startup in the telecom industry as it facilitates better communication among customers for increased engagement and satisfaction. 

Facilio

An AI startup in Chennai, Facilio is a facility operation and maintenance solution that aims to improve the machine efficiency needed for network tower management, buildings, machines, etc.

 

In conclusion, the telecom industry in India is actively looking to improve the services provided to customers to ensure maximum customer satisfaction. From top-class networking solutions to better management of increasing databases using GPU cloud or other GPU online services to manage data hungry workloads efficiently, AI and MI-enabled solutions have taken the telecom industry by storm. Moreover, with the introduction of artificial intelligence and machine learning in this industry, the scope of innovation and improvement is higher than ever before.

 

 

References

https://www.inventiva.co.in/trends/telecom-startup-funding-inr-30-crore/

https://www.mygreatlearning.com/blog/top-ai-startups-in-india/

This is a decorative image for Top 7 AI Startups in Education Industry
June 29, 2022

Top 7 AI Startups in Education Industry

The evolution of the global education system is an interesting thing to watch. The way this whole sector has transformed in the past decade can make a great case study on how modern technology like artificial intelligence (AI) makes a tangible difference in human life. 

In this evolution, edtech startups have played a pivotal role. And, in this write-up, you will get a chance to learn about some of them. So, read on to explore more.

Top AI Startups in the Education Industry-

Following is a list of education startups that are making a difference in the way this sector is transforming –

  1. Miko

Miko started its operations in 2015 in Mumbai, Maharashtra. Miko has made a companion for children. This companion is a bot which is powered by AI technology. The bot is able to perform an array of functions like talking, responding, educating, providing entertainment, and also understanding a child’s requirements. Additionally, the bot can answer what the child asks. It can also carry out a guided discussion for clarifying any topic to the child. Miko bots are integrated with a companion app which allows parents to control them through their Android and iOS devices. 

  1. iNurture

iNurture was founded in 2005 in Bengaluru, Karnataka. It provides universities assistance with job-oriented UG and PG courses. It offers courses in IT, innovation, marketing leadership, business analytics, financial services, design and new media, and design. One of its popular products is KRACKiN. It is an AI-powered platform which engages students and provides employment with career guidance. 

  1. Verzeo

Verzeo started its operations in 2018 in Bengaluru, Karnataka. It is a platform based on AI and ML. It provides academic programmes involving multi-disciplinary learning that can later culminate in getting an internship. These programmes are in subjects like artificial intelligence, machine learning, digital marketing and robotics.

  1. EnglishEdge 

EnglishEdge was founded in Noida in 2012. EnglishEdge provides courses driven by AI for getting skilled in English. There are several programmes to polish your English skills through courses provided online like professional edge, conversation edge, grammar edge and professional edge. There is also a portable lab for schools using smart classes for teaching the language. 

  1. CollPoll

CollPoll was founded in 2013 in Bengaluru, Karnataka. The platform is mobile- and web-based. CollPoll helps in managing educational institutions. It helps in the management of admission, curriculum, timetable, placement, fees and other features. College or university administrators, faculty and students can share opinions, ideas and information on a central server from their Android and iOS phones.

  1. Thinkster

Thinkster was founded in 2010 in Bengaluru, Karnataka. Thinkster is a program for learning mathematics and it is based on AI. The program is specifically focused on teaching mathematics to K-12 students. Students get a personalised experience as classes are conducted in a one-on-one session with the tutors of mathematics. Teachers can give scores for daily worksheets along with personalised comments for the improvement of students. The platform uses AI to analyse students’ performance. You can access the app through Android and iOS devices.

  1. ByteLearn 

ByteLearn was founded in Noida in 2020. ByteLean is an assistant driven by artificial intelligence which helps mathematics teachers and other coaches to tutor students on its platform. It provides students attention in one-on-one sessions. ByteLearn also helps students with personalised practice sessions.

Key Highlights

  • High demand for AI-powered personalised education, adaptive learning and task automation is steering the market.
  • Several AI segments such as speech and image recognition, machine learning algorithms and natural language processing can radically enhance the learning system with automatic performance assessment, 24x7 tutoring and support and personalised lessons.
  • As per the market reports of P&S Intelligence, the worldwide AI in the education industry has a valuation of $1.1 billion as of 2019.
  • In 2030, it is projected to attain $25.7 billion, indicating a 32.9% CAGR from 2020 to 2030.

Bottom Line

Rising reliability on smart devices, huge spending on AI technologies and edtech and highly developed learning infrastructure are the primary contributors to the growth education sector has witnessed recently. Notably, artificial intelligence in the education sector will expand drastically. However, certain unmapped areas require innovations.

With experienced well-coordinated teams and engaging ideas, AI education startups can achieve great success.

Reference Links:

https://belitsoft.com/custom-elearning-development/ai-in-education/ai-in-edtech

https://www.emergenresearch.com/blog/top-10-leading-companies-in-the-artificial-intelligence-in-education-sector-market

https://xenoss.io/blog/ai-edtech-startups

https://riiid.com/en/about

Build on the most powerful infrastructure cloud

A vector illustration of a tech city using latest cloud technologies & infrastructure