Why most client segmentation models don't work

I used to love traditional client segmentation processes. They never worked, and repairing them kept me busy. Perhaps we can explore what the traditional approach was, why it does not work, and suggest an alternative viewpoint. Traditional approaches simply decide that the money is the client, and segment accordingly. So 'platinum' clients, for example, generate £5,000pa in fees, 'gold' clients generate £3,000pa, and so on. Platinum clients get a lot of attention, while 'bronze' customers are told they are bronze and that the adviser may consider answering the phone if they ring...