At this point, we all know the importance of marketing. No matter the industry, no matter how “new” or “established” your brand is, there is always an opportunity to increase marketing efforts to yield more something. It’s up to you to determine what that something is – more sales, more followers, more engagement, etc. The fun part comes in the form of playing around with new marketing techniques and analyzing data to see the fruits of your marketing labor.
And while it may be easy to just go all-in on a variety of marketing tactics we think we know, it’s definitely good practice to get a better understanding of exactly who you’re marketing to. The goal is a customized approach to create a relationship with each customer. One way we can go about this in marketing is through segmentation.
What is it?
Segmentation in marketing refers to the “practice of dividing your target market into approachable groups.” That’s all just to say that it is a tool that can be used to hone in on specific groups within your customer base in order to better serve them. By picking them apart you can see the similarities and differences between your customers. It’s a great tool to not only understand your general demographics better but also to yield more sales as you begin to learn how to better target and market to these segments.
Why is it important?
Segmentation allows us marketers to determine where exactly to focus our marking efforts. Essentially, it can make your job a lot easier when you begin to break down the segments and create tailored and customer advertisements for these segments specifically. This practice will aid in creating customer loyalty and improving satisfaction with the brand. Customers are going to feel like you really know and understand them. That’s the goal!
What does it look like?
There’s a ton of different ways you can go about segmenting your audience, it all depends on what works for your brand and what you’re trying to figure out. A series of surveys can be done with a variety of different question combos for you to later use those responses in another variety of ways. You can sort your customers based on demographic, geographic, psychographic, or behavioral factors. Once the initial data is collected, a cluster analysis can be performed to better visually show you and your brand just where your customers lie on a variety of concerns or characteristics.
No matter which route you go, segmentation can only help you improve your marketing skills and bring success to your business. This is merely the surface on an introductory topic so be sure to stick around for our next marketing breakthrough. Be sure to catch up on my previous posts here.