3 Reasons Custom Segmentation is Good for Your Business
 

3 Reasons Custom Segmentation is Good for Your Business

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A customer segmentation strategy is beneficial to your marketing department by allowing you to talk to your customers the way they want to be talked to, making it easier to track your return on ...

A customer segmentation strategy is beneficial to your marketing department by allowing you to talk to your customers the way they want to be talked to, making it easier to track your return on investment (ROI) and allowing you to achieve a sustainable competitive advantage.

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3 Reasons Custom Segmentation is Good for Your Business 3 Reasons Custom Segmentation is Good for Your Business Presentation Transcript

  • 3 REASONS CUSTOM SEGMENTATIONIS GOOD FOR YOUR BUSINESS BUXTONCO.COM
  • customer segmentation:(noun)- The practice of dividing a company’s customer orprospect base into groups of individuals that are of similartypes in specific ways relevant to marketing, such as age,gender, interests, spending habits, and media preferences, inorder to plan how to sell to each type more effectively BUXTONCO.COM
  • A customer segmentation strategy isbeneficial to your marketing department. 1. Talk to your customers the way they want to be talked to. 2. When properly done, a customer segmentation strategy lends itself very easily to effectiveness measurements (aka ROI). 3. It’s the basis for sustaining competitive advantage. BUXTONCO.COM
  • Treating every customer the same means thatyou’re overlooking opportunities to capturedisproportionate share in your target audience… BUXTONCO.COM
  • Restaurants• A lunch crowdconsisting mostly ofbusiness people preferspeed of service.•An evening crowdconsisting of familieswants something tokeep the kids occupied.Two very differentaudiences. BUXTONCO.COM
  • RetailA customer who shops yourmultiple channels:• Outlet locations• Online• Traditional storesWould appreciate being recognizedand given personalrecommendations on your websitebecause they know they’re a loyalcore customer. BUXTONCO.COM
  • Aligning your sales andproduct delivery processwith a customers’ buyingand consumption processmakes it easy to choose youonce they’re ready to buy. BUXTONCO.COM
  • Custom segmentation provides the insightsinto consumer’s needs and preferences acrossa wide range of dimensions that allow you toevaluate the fit between how you serve yourcustomers and how they want to be served. BUXTONCO.COM
  • Why does custom segmentation make it easier to track ROI?Transactional-based segmentationallows for customers to jump fromsegment to segment.If you’re in the hardware business, whenyou buy a new home, you’re in thegrowing segment. Then, once you geteverything done, you’re in the decliningsegment…The base is always changing. BUXTONCO.COM
  • Achieving a Sustainable Competitive Advantage Because custom segmentation is attitudinal, it’s hard to put into practice. Senior Executives seem to deem it interesting, but not valuable. If you’re able to execute and maintain a strategy that includes attitudes, demo, life stage, financial indicators, you’re likely to outperform any competitor that doesn’t have those insights. BUXTONCO.COM
  • Does your company have customer segmentation? www.buxtonco.com BUXTONCO.COM