Innovative AI Research Presented at IMP 2024 Sheds Light on Belief-Based Customer Segments

Business Innovation Lead Elham Kermani and Technical Director Richard Wainwright co-authored a paper on AI-driven segmentation that identifies stable customer segments based on underlying beliefs. Elham, alongside Professor Paul Smith from Manchester Metropolitan University, presented the paper at the prestigious B2B marketing conference, IMP 2024, in Oulu, Finland.

The paper revealed four key findings:

• Belief-based segmentation:identified stable customer segments that go beyond traditional demographics (age, gender, income), focusing instead on core beliefs about needs and wants.
• Predictive power:showcased the strong predictive capability of these segments for brand preferences.
• Core beliefs across segments:highlighted three key beliefs affecting decision-making across all segments — the necessity of parental permission, self-materialism, and perceptions of family.
• Segment influence dynamics:demonstrated notable differences between segments, such as the impact of friends versus family and the significance of affordability and emotional benefits in shaping purchasing behaviour.

This research is part of a multi-year collaboration with Manchester Metropolitan University. Through this partnership, The Insights Family has developed advanced predictive data science tools that merge academic expertise with our in-house technology and extensive data. By integrating these insights, organisations can better understand and engage their target audiences, staying ahead in the dynamic kids and family market.

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