J. Paul Leavell, PhD, Chief Strategy and Marketing Officer, NUSENDA CREDIT UNION
Using SPSS to identify statistically significant differences in means/medians between customer cohorts can drive marketing's focus for profitably penetrating segments. Segment variables include demographic and purchase data. Identification of life-change events and retailers that correlate with higher credit-card transactions offers guidance on customer targeting. A customer's grocery-store selection can aid in deposit and loan targeting. Large effect sizes have been found.