As those of you with our 2015 Calendar will know, this month’s topic of focus is segmentation. All good marketing starts with segmentation, making it a crucial part of your marketing strategy. As different groups of customers have different needs, you’ll need to prepare a marketing plan for each segment.
Segmenting customers can be done in a number of ways: firmographic segmentation, behavioural segmentation, and needs-based segmentation.
Firmographic segmentation is the simplest of methods, and groups customers by attributes such as gender, age, income, company size, industry vertical and geographical location.
Behavioural segmentation is the next step up, and aims to group customers by how they act. For example, how often a customer switches supplier.
Finally, a needs-based segmentation represents the ideal method by which to group customers. However, this means it also the most difficult to achieve. A needs-based segmentation aims to identify specific customer needs. With this information, products and services can be better tailored to each customer segment, as well as allowing marketing communications to become much more targeted.
Whatever method is used to arrive at the segmentation, it’s crucial that you get it right. To learn more about the 3 types of segmentation, and the criteria you can use to judge its effectiveness, please read this month’s article on the subject.
To read the article, click below.