Understanding Rural Penetration
From a marketer’s point of view – a rural customer forms a different profile. Their needs, aspirations, spends are completely different. Sometimes financial inclusion norms mandate – selling targeted amount of financial products to rural customers. RuralClassifix can also be used in any vertical to understand rural penetration and further by various attributes like agriculture, weather etc.
How does one measure – how many and where all does one have rural customers?
For countries like India – rural and urban definitions are given in census and based on population. The census data needs to be de-duplicated with customer address information to classify and census-code customer data.
The challenges are several – Many financial organizations capture customer addresses through their agents and other intermediaries. Very often complete information is not filled. The rural data requires the village and associated taluk and district. More often than not, only one component is present. With Ixsight’s RuralClassifix – identifying and census coding rural addresses is done accurately and quickly. Output diagnostics provide confidence to auditors and regulators who check reports.
Ixsight currently supports several clients and provides real-time or on a as-and-when-required basis service so that organizations can meet their compliance deadlines.
Ixsight provides RuralClassifix in SaaS Mode.