Segmentation: Elo Mutual Pension Insurance Company

Corporations have significant amounts of quantitative data about their clients, but this is no longer sufficient. Combining quantitative data with qualitative data creates true competitive advantage.

The project, which was carried out in cooperation with Elo Mutual Pension Insurance Company, built a customer segmentation model that helps develop client services in a new way.

We started without any precise or specified hypotheses concerning our findings. The research was segmented in a new way: through ethnographic research with B2B clients in order to understand the clients’ everyday needs and pain points. This way we could build customer grouping based on insights on their needs instead of predicted segments.

An in-depth study of customers helped compile examples and concretizations. The anthropological perspective enabled the use of a new kind of lens, through which we were able to supplement figures and data with a human perspective.

Through ethnography and anthropological analysis, we could identify quantitative signals that speak of a change in needs and enable reacting to said needs in advance.

Ultimately, the in-depth ethnographic research became a basis and a guide for Elo to build and develop services.