SEGMENTATION

Download as docx, pdf, or txt
Download as docx, pdf, or txt
You are on page 1of 16

SEGMENTATION

What You Need to Know About


Segmentation
The marketers of Clearblue Advanced Pregnancy Test, a product that can tell you if
you’re one-week, two-weeks, or three-plus weeks pregnant, asked a couple of D-list
celebrities to tweet out their positive tests back in 2013. As Businessweek’s Jessica
Grose reported, the maker of the test, Swiss Precision Diagnostics, has a 25% share of
the at-home pregnancy-testing industry and is targeting its marketing efforts at
Millennials. Grose quotes IbisWorld researcher Jocelyn Phillips as pointing to the
high-tech aspects of Clearblue’s test, also noting that young women might be more
willing to shell out more money for such technology — the digital version costs about
$5 more than the boring old blue and pink line version.

There is nothing new about this kind of segmenting in the pregnancy test market,
however. And it’s actually a really useful (if not slightly unsettling) example of how
you might segment potential customers with very different needs and behaviors.

For example, you could segment the market for early pregnancy tests based on
demographics such as age and income, or you could segment the market based on
consumers’ price sensitivity. But in this situation, it is useful to ask why: Why would
a woman want to take a pregnancy test? And are these reasons the same for
everyone? A little bit of thought would suggest that there are two groups of
women: hopefuls, those who want to be pregnant, and fearfuls, those who are
afraid that they might be pregnant.

How would you identify these two segments and market to them differently? Often
companies offer multiple products that appeal to different market segments and let
customers self-select. That is, the firm does not identify customers in various market
segments; instead, the customers reveal their market segment identity by choosing
different products. Quidol, a company based in San Diego, California, created two
different products to appeal to two segments in the market for early pregnancy tests:
the hopefuls and the fearfuls. The actual test products were almost identical, but the
two products were given different names and package designs, were placed in
different aisles of a drugstore, and were priced differently.

Segmenting, at its most basic, is the separation of a group of customers with different
needs into subgroups of customers with similar needs and preferences. By doing this,
a company can better tailor and target its products and services to meet each
segment’s needs. This isn’t, as McKinsey’s John Forsyth says, simply for marketing
or retail firms. “We see many, many companies saying, ‘I want to get more
consumer-driven and customer-facing. But sometimes the organizations don’t know
how to start. I’d say you really start with a basic understanding of your consumers or
customers, right? And that’s segmentation.”
It sounds straightforward but often it isn’t. Here are a few pitfalls that many
companies fall into when they start thinking about segmentation. One, companies
rarely create a segment — more often they uncover one. Two, segmentation and
demographics are very different things. “You have two people, we know they’re the
same age, we know they’re British citizens, and we know they’re of royal blood,”
explains Forsyth. “One of them is Prince Charles. The other is Ozzy Osbourne, the
Prince of Darkness. They’re in the same demographic segment, but I can’t imagine
marketing to them the same way.”

And three: you have to ask yourself why you want to segment and what decisions
you’ll make based on the information. “Many companies say, well, I think I just need
a segmentation,” says Forsyth. “But before you even start the segmentation, you need
to really understand why you’re doing it and what some of the actions are that you’re
planning to take, based on what you think you might see. It helps you understand
what’s actionable in terms of driving a company’s business.”

Once you’ve answered these questions, you have to decide whether you want to start
segmenting by needs or behaviors. “If you’re doing something strategic and you’re
trying to figure out if you have the right brands, the right value proposition, the right
product line, then I would say you should start with needs or attitude segmentation,”
explains Forsyth. This is basically trying to identify what needs your product or
service is or could meet.

“But if you think you’ve got that pretty much under control,” he continues, “and you
need to understand how to go to market or target your digital and TV spending, then
I would start with behavior.” This involves trying to identify differences in customer
groups based on their buying and lifestyle patterns, for example.

Regardless of your approach, a useful segmentation should include these six


characteristics:

1) Identifiable. You should be able to identify customers in each segment and


measure their characteristics, like demographics or usage behavior.

2) Substantial. It’s usually not cost-effective to target small segments — a segment,


therefore, must be large enough to be potentially profitable.

3) Accessible. It sounds obvious, but your company should be able to reach its
segments via communication and distribution channels. When it comes to young
people, for example, your company should have access to Twitter and Tumblr and
know how to use them authentically — or, as Clearblue smartly did, reach out to
celebrities with active Twitter presences to do some of your marketing for you.

4) Stable. In order for a marketing effort to be successful, a segment should be


stable enough for a long enough period of time to be marketed to strategically. For
example, lifestyle is often used as a way to segment. But research has found that,
internationally, lifestyle is dynamic and constantly evolving. Thus, segmenting based
on that variable globally might not be wise.
5) Differentiable. The people (or organizations, in B2B marketing) in a segment
should have similar needs that are clearly different from the needs of other people in
other segments.

6) Actionable. You have to be able to provide products or services to your


segments. One U.S. insurance company, for example, spent a lot of time and money
identifying a segment, only to discover that it couldn’t find any customers for its
insurance product in that segment, nor was the organization able to design any
actions to target them.

Now you can start breaking down segments by who buys, what they buy,
and why they buy (or use or view, etc.) it. The pregnancy test interactive above is a
great example of how this works.

There are also prominent failures that companies should heed. One of the most
infamous is when Bic decided to segment its young female consumers. The “Bic
Cristal for Her” writing utensils were thinner, designed with more pastel colors, and
priced higher than other pens. Women, in general, were offended, taking to Amazon
to write some very creative reviews. The pen market, in other words, was not as
heterogeneous along gender lines as Bic had thought.

When thinking about how you segment, John Forsyth has several suggestions. For
one, he notes, “focus groups are dead. If you’re still using focus groups, you’re using
30-year-old technology.” A much better way to understand customer needs and
behaviors is to spend time with people in their homes, stores, or health clubs. “You
watch them, you talk to them while they’re doing the kinds of things we want to be
observing.”

This type of qualitative research is all the more important because it showcases real
stories that are key to convincing stakeholders. “When we illustrate things with
qualitative research, we get CEOs going, ‘Wow, you’re really telling me my marketing
strategy is all wrong and I need to change it,'” says Forsyth. “It’s very powerful, and
it’s really exploded in the last 10 years.”

Big Data and technology have changed how companies approach segmenting. “The
old model, particularly in the market research world was, ‘I understand people’s
needs and attitudes, and behaviors will come from that,'” Forsyth explains. “Today,
in many situations, [marketers] have flipped it to say, ‘I’m going to do segmentation
based on their behaviors, and then I’m going to try to understand the needs that
drive behavioral differences.”

He warns, however, that this type of segmentation is “a lot harder to do than people
think, and I don’t think we’re anywhere near being good at it yet.”

Forsyth’s also seeing a lot of movement in the area of segmenting emerging markets
worldwide, which poses a number of challenges. For one, scales marketers use to
measure needs or behaviors in one country may be way off in another due to
different cultural norms.
He also notes that affordability is still a huge factor in developing countries, too,
whereas it may not be elsewhere — as the $20 pack of digital pregnancy tests
demonstrates nicely.

CUSTOMER SEGMENTATION

Each customer is different from the next, so a single approach to dealing


with different customers won’t work. With customer segmentation, your
business can better understand every customer and align relevant strategies
and tactics to meet their distinctive needs, helping you to make more
profits.

In this customer segmentation guide, Forbes Advisor will show you what
customer segmentation is, why you need it and the different types and
strategies you can adopt to effectively reach various customers and increase
revenue.

What Is Customer Segmentation?

Customer segmentation involves grouping existing and potential customers


based on shared characteristics. When you segment customers into
different classes, you will better understand their needs, preferences and
buying patterns. Your marketing and sales team can then tailor their efforts
to reach out to your customers in the most fitting way. The result of the
guided campaigns and actions will be a boost to customer loyalty and
conversations.

Benefits of Customer Segmentation


Customer segmentation will help you learn about customers more deeply,
so you can know how to market and sell your products, which customers to
invest in and how to improve your marketing techniques. Below are the
primary reasons to try out customer segmentation for your business.
 Enhanced customer relationship and brand
loyalty: Customer segmentation shows you precisely what each
customer seeks so that you can align your marketing messages and
know the exact channel to use for communicating with them. It
reveals customers’ interests, spending habits, budgets and more to
you. And when you interact with customers based on these things,
they believe you care, and it’s easier to get more purchases from
them. Also, their frequent engagement with your business drives
loyalty, which keeps them coming back.
 Enhanced customer experience and sales: With customer
segmentation, you will know what customers need, when they need it
and what they need it for, which will enable better deliveries for each
customer. For example, fine-tuning your marketing messages gets
users to make more purchases since they will receive ads or
promotions on exactly what they need. When you know how to attend
to customers in terms of changing seasons and needs, you can offer
better professional services, customer support and product or service
offerings.
Doing these will bring you more sales since you meet needs, and your
business becomes in demand. Also, since you’ll know whom to
concentrate on, your business saves time and resources, and
customer segmentation ultimately increases your revenues.
Customer Segmentation vs. Market Segmentation
Sometimes, there’s confusion around customer segmentation and market
segmentation since many companies use the terms interchangeably. Most
businesses consider customer segmentation as a subset of market
segmentation. The truth is that the two overlap, and both aim to define
their customers, which is the focus of segmentation; however, each has its
own uses. And depending on your product or service, you may choose to do
one or both.
Types of Customer Segmentation

There are several types of customer segmentation you can use for your
business. Each one has variables you’ll need to consider when segmenting.
Let’s look at the most popular ones below.
Demographic Segmentation
Demographic segmentation groups customers according to shared
characteristics, such as gender, age, marital status, educational level,
occupation, household income and location.

 Gender: Ensure that this segment is inclusive, with plenty of


categorization choices, so you can capture every gender and make
customers comfortable.
 Age: This category will direct you to customers’ likely budgets and
their most preferred products.
 Marital status: You can segment this as “married,” “in a
relationship” and “without a spouse.”
 Occupation: Segmenting customers according to their occupation
will give you an idea of customer income and budgets and their
interests and availability.
Geographic Segmentation
For geographic segmentation, you will need to divide your customers
according to geography, which includes their common language and
location. Location can be a neighborhood, city, country or region. You can
include their transportation mode, too.

 Preferred language: Knowing this about your customers will help


you to communicate better with them. For example, you can use
English and Español in a business you run within the United States.
 Location: Knowing where your customers are and how to find them
will aid your marketing approach. Your marketing approach to New
York residents should be different from your Alabama customers.
 Transportation: Knowing how customers commute will also
enhance your marketing and sales. For example, you can use out-of-
home advertising on trains, billboards and subway stations if your
customers use the train or buses more for transportation.
Psychographic Segmentation
This type of segmentation is based on customer interests, values and
personality traits.

 Interests: These are the things, such as sports, games, pets and
activities, that customers enjoy. You can, thus, direct your ads
towards their areas of interest or collaborate with relevant
institutions. For example, you can run a cross-promotional campaign
with a seniors’ home if a customer loves spending time with seniors.
 Values: You can determine customer values from surveys or one-to-
one interviews. Then, pay attention to fine-tuning your product or
service to meet their specific needs.
 Personality traits: You can also segment customers based on their
personality traits. Doing this will help you market to them in a way
they can better relate to and respond.
Behavioral Segmentation
Behavioral segmentation considers customer purchase history, response to
marketing campaigns and product or feature usage patterns when
grouping.

 Website activity: To determine this, you will need to track the


activities of your customers, such as the elements or pages they
interact with the most whenever they visit your website.
 E-commerce activity: Here, you’re monitoring their actions when
visiting your online store. It may be based on the products they’ve
purchased or the ones they’ve seen but are yet to purchase—their
abandoned carts.
 Frequency of purchases: The more purchases a customer makes,
the more valuable they are to your business. So you’ll need to
determine customer value and consider rewarding customers who
have made regular or repeated purchases with exclusive offers.
 Recent customer engagement: Insight into a customer’s most
recent interaction with your business will guide you on what to do
next with them. You can reward a positive reaction with promotions
or have your customer service team work on strengthening the
relationship with a customer whose recent interaction with your
business was negative, such as returning an item or dropping a
negative review.
Needs-Based Segmentation
Businesses conduct needs-based segmentation according to the must-haves
specific customers require in a product or service delivery.

 Product features: Some customers have certain requirements or


buy your products because of specific features they have or needs that
they help them fulfill. Find out what these features are, so you can
keep your products as inclusive as possible.
 Service needs: For some, it is in how you interact with them, such
as your smooth onboarding process, effective customer service or
prompt deliveries.
 Delivery method: Customers have specific needs, such as how and
when you deliver their products. You need to categorize individuals
according to their specific shipping needs.
Technographic Segmentation
This customer segmentation group divides customers based on their use of
devices, applications and software.

 Device type: You can divide customers based on the specific type of
device they use to interact with your website, which can be a phone,
tablet or computer. Knowing this will direct your focus. For example,
if most of your customers visit from their phones, you need to
consider introducing a mobile app and ensuring that your site is
mobile-responsive.
 Browser type: Customers use various browser types, including
Google Chrome, Mozilla Firefox and Safari. Find out the ones your
customers use to better drive your site layout. You might need to test
your content to ensure that they display properly on these browsers.
 Original source: Customers can find you via social media, search
engines or even referrals from other customers or websites. You need
to know how they discover you so you can optimize the conversion
path.
How To Segment Customers

From highlighting your customer segmentation goals to setting up your


customer segmentation project, executing data collection, conducting
segmentation, incorporating results into marketing and running customer
segmentation analysis, customer segmentation can be overwhelming.
However, considering the fundamentals of customer segmentation and
taking them one step at a time will set your business up for conversion and
sales.
Below are the fundamental strategies required for an effective customer
segmentation process.

Identify Your Customer Segmentation Goals and Variables


To be able to gather the proper data required to deliver the best customer
experience, you first need to determine the type of customer segmentation
your business needs. For example, are you looking to offer a new product or
feature or expand your market? For a new product or feature offering,
consider psychographic, needs-based and technographic segmentation.

Then, examine each segmentation type to determine the elements that


require your attention. While this may look insignificant, it can make a
difference in the type of messages you send to the segment customers and
influence the results of your marketing actions. After that, you can break
them into manageable projects.

Set Up Each Customer Segmentation Project


Once you get a clear picture of the customer segmentation types you need,
it’s time to set up your projects. An easy approach is to organize the
segments and then start with the largest one. Once you’ve set the order,
start setting up the projects.

 Set an objective: For each customer segmentation project, you


need to first set a goal. Then, create a SMART framework to define
your objective and answer questions around areas, such as the
demand for the particular segment, how long it will take to build and
complete the project, the deadline and how to measure your success.
 Involve stakeholders: Primary stakeholders include employees
from the departments and teams that need to be invested in the
project’s success since the goals directly affect them. However, you
need to also include relevant stakeholders who will use the project
most. They include your existing customers, vendors and local
businesses. Also, highlight how they can be involved in the
segmentation process.
 Define the project scope: To avoid overlaps or confusion later on,
define the scope of each project from the onset. Set targets for areas
such as data sources, resources and budget.
 Define the project deliverables: The final thing to do when
setting up your project is to highlight expected results. These might
include segment profiles, highlighted scope of each segment, outlines
of processes and workflow wireframes.
Collect and Organize Customer Data
It’s easy to obtain data such as job titles and product purchases from simple
purchases. However, you will need to be deliberate about acquiring data
such as age and marital status from your customers. Thankfully, there are
multiple ways to collect data from customers. Some are direct, such as
through customer surveys, while others are indirect—insights are derived
from data obtained.

 Surveys: You can use surveys, including post-purchase surveys,


after-store surveys and product satisfaction surveys, to gather honest
data from customers by asking targeted questions. They can help you
cull information about customer thoughts and behaviors necessary
for product or service improvement. However, explain why you need
answers and ask only questions directly related to the survey goal in
the terms and language each customer can connect with. Also, allow
them to add their own answers, where pre-provided answers won’t
adequately capture their responses.
 Analytics tools: You can also use omnichannel analytics tools to
comb through different social platforms. They will find out what
customers say about your company and where the conversations
occur.
 Social listening: Social media is a good place to obtain customer
data. So, search through customer feedback and mentions or
discussions about your brand. Then, follow the social listening with
an analysis that provides valuable insights for better customer-
focused business activities.
Segment Your Customers Into Groups
After pulling the necessary customer data, build your segments. To get the
best results, you need to approach this fundamental step with some key
ideas in mind.
 Use machine learning: While it’s not compulsory to do this, it can
be a huge time saver for your team. Applying automation makes
customer segmentation easy, as it can help your business segment
contact lists and even create communication workflows, leaving your
team with less to do.
 Make segments easy to access: Align each customer segment to
relevant marketing and sales channels. For example, to reach Gen Z
customers, your marketing strategy should be on TikTok, Instagram
or Twitter, not Facebook.
 Include loyal customers: Don’t miss out on existing customers
while trying to find new ones. Work on maximizing your interactions
with them to increase their number of purchases.
 Make segments easy to use: Ensure that team members find
customer segments easy to use. Use clear language they can relate to,
and ensure the sections are organized and easy to navigate.
Market to Your Customer Segments
It’s not enough to have customer segments. You need to utilize your
customer segments. And that means creating a plan for each segment and
making your communications with them customer-centric.

For the best outcome, you need to create specific plans for each segment.
You can use the segment information to determine the type of content and
products or features that will bring them the most value. Then create new
targeted content they can engage with, and craft a strategy to get it to them.
Also, find out the best time to send out content.

You can then personalize their emails and create more meaningful landing
pages. These will help your customers feel that you understand them, value
them and are willing to solve their issues faster.

Run Regular Customer Segmentation Analyses


Change is constant, so you need to analyze your customer segmentation
model from time to time. They will help you confirm whether the segments
are still necessary and whether or not they are performing by helping you to
reach your goals. You can conduct customer segmentation analysis by doing
the following.
 Review each customer segment for accuracy
 Compare each segment’s performance with the business goals that
prompted its creation
 Ask your internal terms for their feedback
 Collect feedback from customers
 Take actions based on acquired results
Customer Segmentation Tools

Customer segmentation tools help businesses collate data from multiple


sources and organize them for effective customer segmentation. These tools
automate the technical processes in segmenting customers so that your
team members can have more time to focus on other tasks needed for your
business’s growth. There are several tools available, including the following.

Qualtrics
Qualtrics is a customer segmentation software with machine learning and
artificial intelligence (AI) capabilities to help you group customers into
segments. Qualtrics also organizes studies on segments, determines
optimal communication approaches for each segment and runs customer
segmentation analyses. It also provides segmentation features for your
products so you can fine-tune your product offerings to specific customer
segments.

HubSpot
HubSpot offers customer segmentation tools for creating segments from
static and active contact lists. HubSpot uses contact scoring to segment
your customers. This software also offers its users event-based
segmentation, which can help you locate customers within a specific area
and market to them. Also, after events, this customer segmentation tool will
use collated details from attendees to create customer segments for future
business events.
Segment
Segment is a suitable tool for aggregating data points from mobile and
website applications. It integrates with more than 300 software tools so you
can have your data in one place. Segment tracks customer interaction and
offers daily reporting. It will help your marketing team create specific
marketing campaigns and deliver personalized customer experiences.

Userpilot
Userpilot has advanced segmentation features for managing customer
relationships. With Userpilot, you can track customer engagement, from
where they visit to how often they click on specific elements on your
website and their journey as customers. Userpilot will segment your
customers based on their value to your business or however you want them
segmented. It is easy to use and it enables smooth integration with other
tools.

Bottom Line
Customer segmentation is relevant for all businesses, as it groups
customers based on shared characteristics to provide customers with the
exact experience they need. However, to enjoy business growth and sales,
which is the aim of customer segmentation, it is important to identify and
follow the fundamental strategies for customer segmentation. So, start
working on these strategies and use customer segmentation tools for faster
process

What Are the Basis of Segmenting


Consumer Markets?
To succeed in your business, you have to have a clear understanding of what your
customers need. However, not all of your customers are the same. They may differ in age or
gender or have vastly different values and interests. They may even use your products to
satisfy different requirements. To appeal to your customers effectively, segment your target
market so you can customize how you engage with them.
Demographic Segmentation

The most common way to identify a consumer market is by demographic segmentation,


which refers to the criteria most businesses use to understand how groups of their target
market are different from one another. The criteria

Gender

 Age
 Family status
 Sexual orientation
 Occupation
 Income
 Education
 Religion
 Ethnicity
 Nationality

It's essential to segment your target market by demographics because these criteria affect
their individual needs. For example, a man in his early 30s has different preferences than a
woman in her late 60s. If your business sells shoes, you cannot appeal to both demographic
segments in the same way. The young man may be interested in athletic name-brand shoes,
while the older woman may want comfortable sandals with arch support. The marketing
you use to reach both demographic segments needs to take their requirements into account.

In some cases, people from different demographics may have the same needs, which is why
it's critical to understand your consumer on a granular level. For example, the customers of
a bakery may differ in religion, nationality, education and occupation, but they may all
desire the same baked goods and react the same way to the marketing.

Geographic Segmentation

Another way to segment the consumer market is geographically. Sometimes, this is seen as
a subcategory of demographic segmentation. Many businesses and marketers treat this
category as major because customers’ geographic criteria can significantly affect their
needs as consumers. Geographic segmentation elements include:

 Region or area, such as country, state, province, county, town or city


 Size, such as population or population density
 Climate, such as weather patterns

Consumers from different geographic areas have varying needs. An online retailer who
sells swimwear to customers across the United States and Canada may need to vary the
marketing to those consumers who live in colder climates. Many parts of Canada and the
northern United States have a beach season that only lasts for a few months. As a result, the
retailer needs to focus promotional efforts during this time in those areas, while in the
southern United States, they can run year-round promotions.

Similarly, a corner store that operates in a rural area with a sparse population uses different
marketing and sales tactics than a corner store on a busy metropolitan street with a high
population density. In these market segments examples, businesses need to understand how
geographic segmentation criteria affect the needs of their consumers.

Psychographic Segmentation

While demographic and geographic segmentation look at many tangible criteria,


psychographic segmentation is about how consumers live their lives. Some of these
qualities are intangible and difficult to research. Conduct customer surveys to learn more
about their psychographic attributes, which include:

 Values, such as what they believe to be important to them, including family, community,
money or success
 Attitudes and opinions, such as how they feel about a political party or toward a key social
issue
 Interests, such as what kinds of movies they watch or what their hobbies are
 Activities, such as whether they play a sport or instrument or enjoy a cooking a particular
kind of cuisine

A consumer’s psychographic qualities affect which products and services they buy. For
example, consumers who strongly value environmental sustainability may look for products
that are manufactured using recycled materials. They may choose to buy only from
businesses with a formal program for reducing their carbon footprint. Some consumers only
support companies that are in line with their political or social beliefs.

For other consumers, their interests and activities determine the types of products and
services they buy. For example, an avid basketball player may want to buy basketball shoes
and jerseys, while a musician may be interested in specific instruments. By understanding a
segment's values, attitudes, interests and activities, businesses can market the right products
to them in the right way.

Behavioral Segmentation

While demographic, geographic and psychographic traits include specific qualities about
your customers and their needs, behavioral segmentation is about how your customers feel
about your products. According to NetMBA, this is a good starting point for market
segmentation because it is directly related to your business.

Behavioral segmentation includes:

 Benefits your consumers are looking for from the product


 Whether they have previously bought the product
 How often they need the product or how often they use the product
 How ready they are to buy the product right now
 Whether they feel loyal toward your brand
 When they buy the product, such as on holidays or for specific milestones

The way you market to a loyal customer is different from how you market to someone who
knows nothing about your business. Use behavioral segmentation to understand what your
consumers need and what they think of your business. If you approach loyal customers with
basic information about your products, they may feel insulted you think they don’t know it
already. Similarly, if you don't begin by talking about the benefits of your product to a new
prospect, they will not know what makes your solution better than a competitor's.

Creating Effective Consumer Market Segments

There are endless ways to segment your consumer markets, so how do you know which
segments to use? Segmenting your target market ineffectively may mean your marketing
message does not resonate with your audience. Qualtrics suggests doing a market segment
analysis to see if you have the right criteria. Consider these five elements when segmenting
your market:

 Is your segment measurable: You need to be able to determine how much your consumer
market segment will spend on your products and when they will buy. If this is something you
cannot estimate, it won't be easy to develop sales and marketing plans.
 Is your segment accessible: Segments of the consumer market you're targeting should be
easy for your business to reach. For example, if you have a potential market segment that
does not use technology but all of your company's marketing is currently done online, this
may not be the best segment for you to target.
 Is your segment substantial: Your market segment needs to be a sufficient size to be worth it
for your business to cater to them. If it is too small, you won't see the kind of return you
need.
 Does your segment have unique needs: If your market segment has the same requirements
as another market segment, you don't need to separate them. They need to be diverse
enough to require tailored marketing.
 Is your segment durable: If your consumer market segment is volatile and changes
frequently, you may not be able to keep up with their needs.

Using Market Segmentation for Best Results

When you've developed segments of the consumer market you want to target, you must put
your plans into action. Single Grain recommends creating buyer personas and ensuring your
marketing and sales teams are familiar with them. Develop personalized messaging for each
persona that takes into account their pain points and challenges and includes their needs.
Where possible, use personalization to show your consumers you understand them and can
help with their problems.

You might also like