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Understanding	  &	  Segmen/ng	  Your	  Customer	  –	                                                            Part	  II	...
Know	  Your	  Customer	  Types	  h"p://emagine-­‐	             Brand	  Focused,	  Socially	  Ac<ve,	  Digitally	 ...
The	  Resistant	  Customer	                                                Ø  Mindset:	  Hates	  your	  company	  and	   ...
The	  Indifferent	  Customer	                                                Ø  Mindset:	  Sees	  your	  company/product/ ...
h"p://emagine-­‐	     Brand	  Focused,	  Socially	  Ac<ve,	  Digitally	  Enabled	  
The	  Acceptant	  Customer	                                                Ø  Mindset:	  Expects	  your	  customer	  to	 ...
h"p://emagine-­‐	     Brand	  Focused,	  Socially	  Ac<ve,	  Digitally	  Enabled	  
The	  Preferen<al	  Customer	                                                Ø  Mindset:	  Has	  grown	  to	  like	  your...
h"p://emagine-­‐	     Brand	  Focused,	  Socially	  Ac<ve,	  Digitally	  Enabled	  
The	  Evangelist	  	                                                Ø  Mindset:	  The	  pinnacle	  of	  the	  customer	  ...
The	  Customer	  Profile	                                                              Who	  is	  my	  target	  customer?	 ...
When	  we	  talk	  about	  profiling	     customers,	  we	  start	  with	  the	     basics	  –	  or	  what	  is	  know	  as...
Old	  Way	                Standard	  Demographics	                               	                  Age,	  Race,	  Income,...
Now	  this	  way	  has	  given	  marketers	  a	     great	  deal	  of	  informa<on	  over	  the	     decades,	  it	  has	 ...
Why?	  h"p://emagine-­‐	     Brand	  Focused,	  Socially	  Ac<ve,	  Digitally	  Enabled	  
The	  standard	  demographics	  are	  a	     very	  general	  way	  of	  looking	  at	  a	     customer	  –	  it	  gives	 ...
Rs.	        40+	                                                                           200,000+	                      ...
This	  is	  the	  limita<on	  of	  the	  old	     way	  of	  marke<ng	  segmenta<on	  h"p://emagine-­‐	     Brand...
New	  Way	  –	  Audience	  Segmenta/on	                                              GeCng	  to	  the	  root	  of	  your	 ...
When	  you	  use	  a	  audience	     segmenta<on	  method,	  you	  are	     be"er	  able	  to	  break	  down	  your	     c...
Is	  audience	  segmenta<on	  just	     about	  behaviors?	  h"p://emagine-­‐	     Brand	  Focused,	  Socially	  ...
When	  we	  work	  with	  this	  method,	     we	  start	  from	  a	  different	  point	     than	  the	  tradi<onal	     d...
Where	  do	  you	  think	  we	  start	  in	  this	     method?	  h"p://emagine-­‐	     Brand	  Focused,	  Sociall...
Life	  Roles	  are	  the	  different	  things	     that	  we	  are	  that	  make	  up	  our	     buying	  decisions.	  h"p:...
When	  marketers	  start	  with	  life	  roles,	     we	  are	  be"er	  able	  to	  define	  our	     customer	  because	  ...
When	  you	  define	  someone’s	  life	        roles,	  you	  are	  be"er	  able	  to	  define	                             ...
h"p://emagine-­‐	     Brand	  Focused,	  Socially	  Ac<ve,	  Digitally	  Enabled	  
h"p://emagine-­‐	     Brand	  Focused,	  Socially	  Ac<ve,	  Digitally	  Enabled	  
Understanding	  Market	  Segmenta/on	                            Learning	  How	  to	  Break	  Down	  Your	  Customer’s	  ...
Market	  segmenta/on	  is	  the	  process	     that	  companies	  use	  to	  divide	  large	     markets	  into	  small	  ...
Market	  Segmenta<on	  h"p://emagine-­‐	     Brand	  Focused,	  Socially	  Ac<ve,	  Digitally	  Enabled	  
Market	  Segmenta<on	  Divides	  the	  market	                                                                            ...
How	  Do	  We	  Market	  To	  These	  Segments?	  h"p://emagine-­‐	     Brand	  Focused,	  Socially	  Ac<ve,	  Di...
Marke<ng	  Segmenta<on	                                                                   New	  vs.	  	         4	  Key	  ...
Market	  Targe<ng	          Mass	                      Segmented	                                  Niche	                 ...
Results	  from	  Mass	  Marke<ng	             Price	                                  Direct	  Sales	                     ...
Results	  from	  Market	  Segmenta<on	                            Price	                                           Direct	...
Results	  from	  Audience	  Targe<ng	                       Price	                                   Direct	  Sales	      ...
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Understanding & Segmenting Your Customer - Part II (MI)


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The final lecture in the market segmentation series

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Transcript of "Understanding & Segmenting Your Customer - Part II (MI)"

  1. 1. Understanding  &  Segmen/ng  Your  Customer  –   Part  II   GeCng  the  Right  Customer  For  Your  Marke<ng  Message  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  2. 2. Know  Your  Customer  Types  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  3. 3. The  Resistant  Customer   Ø  Mindset:  Hates  your  company  and   holds  deep  resentment  for  your  brand   Ø  Behavior:   –  Will  spread  nega<ve  word  of   mouth  wherever  possible   –  Took  their  experience  with  your   brand  personally  and  is  looking  for   revenge   –  Will  defect  to  your  compe<tor  first   chance  they  get   Ø  Loyalty:  Zero   Ø  Possibility  of  Defec/on:  Extremely   High  (you  can’t  save  this  group)  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  4. 4. The  Indifferent  Customer   Ø  Mindset:  Sees  your  company/product/ service  as  nothing  more  than  a   commodity   Ø  Behavior   –  Will  always  try  to  get  lower  prices   to  the  point  of  near  zero  margin   –  They  will  promise  volume  or  future   business,  but  see  li"le  unique   value  in  your  offering   –  Always  willing  to  walk  away  from   the  sale  because  they  have  other   op<ons  available   Ø  Loyalty:  One   Ø  Possibility  for  Defec/on:  Very  High  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  5. 5. h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  6. 6. The  Acceptant  Customer   Ø  Mindset:  Expects  your  customer  to   provide  the  maximum  of  what’s  asked   and  nothing  more   Ø  Behavior:   –  Doesn’t  think  of  your  brand  un<l   absolutely  necessary   –  Comes  to  you  because  you  have   become  a  habit  or  more   convenient  choice   –  Maybe  aware  of  other,  be"er   op<ons,  but  simply  hasn’t  made   the  effort  to  pursue  them   Ø  Loyalty:  Two   Ø  Possibility  for  Defec/on:  High   –  Customer  expecta<ons  can   outpace  what  you  provide  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  7. 7. h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  8. 8. The  Preferen<al  Customer   Ø  Mindset:  Has  grown  to  like  your  brand   and  tends  to  understand  the  unique   value  that  you  provide   Ø  Behavior:   –  Most  of  us  make  the  mistake  of   making  this  customer  type  the  top   of  our  customer  pyramid   –  When  given  a  choice,  they  will   probably  con<nue  to  use  your   brand   –  Very  aware  of  industry  trends  and   can  surprise  by  defec<ng  if  you   have  not  given  them  benefits  or   raised  the  bar  on  service  or   innova<on   Ø  Loyalty:  Three   Ø  Possibility  for  Defec/on:  Somewhat   High  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  9. 9. h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  10. 10. The  Evangelist     Ø  Mindset:  The  pinnacle  of  the  customer   rela<onship  and  would  buy  anything   you  offer   Ø  Behavior:   –  They  tell  everyone  they  know   about  your  company   –  Men<ons  how  sa<sfied  they  are   even  in  casual  conversa<ons   –  Your  brand  has  become  part  of   their  life   –  Finds  personal  meaning  with  your   brand   –  Worth  their  weight  in  gold  because   they  do  more  to  grow  your   business  than  any  ad  campaign   Ø  Loyalty:  Four   Ø  Possibility  for  Defec/on:  None  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  11. 11. The  Customer  Profile   Who  is  my  target  customer?  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  12. 12. When  we  talk  about  profiling   customers,  we  start  with  the   basics  –  or  what  is  know  as  the   old  way….  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  13. 13. Old  Way   Standard  Demographics     Age,  Race,  Income,     Educa<on,  Family  Size,  Employment  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  14. 14. Now  this  way  has  given  marketers  a   great  deal  of  informa<on  over  the   decades,  it  has  not  improved  the   marke<ng  performance  of  our   ac<vi<es  and  campaigns  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  15. 15. Why?  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  16. 16. The  standard  demographics  are  a   very  general  way  of  looking  at  a   customer  –  it  gives  us  insights  but   not  details  which  we  need  to  drive   our  marke<ng  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  17. 17. Rs.   40+   200,000+   Master’s   Business   Degree   Owner   Family  of   Middle   2   Eastern  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  18. 18. This  is  the  limita<on  of  the  old   way  of  marke<ng  segmenta<on  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  19. 19. New  Way  –  Audience  Segmenta/on   GeCng  to  the  root  of  your  customer  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  20. 20. When  you  use  a  audience   segmenta<on  method,  you  are   be"er  able  to  break  down  your   customer  into  clear  sets  of  detail   that  allow  you  to  target  them  more   effec<vely  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  21. 21. Is  audience  segmenta<on  just   about  behaviors?  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  22. 22. When  we  work  with  this  method,   we  start  from  a  different  point   than  the  tradi<onal   demographics  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  23. 23. Where  do  you  think  we  start  in  this   method?  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  24. 24. Life  Roles  are  the  different  things   that  we  are  that  make  up  our   buying  decisions.  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  25. 25. When  marketers  start  with  life  roles,   we  are  be"er  able  to  define  our   customer  because  different   behaviors  fall  into  the  different  roles   we  carry  in  life.  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  26. 26. When  you  define  someone’s  life   roles,  you  are  be"er  able  to  define   their  –     behaviors,  habits,  interests  and   purchasing  decisions  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  27. 27. h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  28. 28. h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  29. 29. Understanding  Market  Segmenta/on   Learning  How  to  Break  Down  Your  Customer’s  Into  Groups  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  30. 30. Market  segmenta/on  is  the  process   that  companies  use  to  divide  large   markets  into  small  markets  that  can   be  reached  more  efficiently  and   effec<vely  with  products  and   services  that  match  their  unique   needs  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  31. 31. Market  Segmenta<on  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  32. 32. Market  Segmenta<on  Divides  the  market   Divides  the  market  into  different   into  groups  based  on  geographical  units   variables  such  as  such  as  na<ons,   age,  gender,  family  regions,  states,   Geographic   Demographic   size,  income,  coun<es,  or  ci<es   segmenta/on   segmenta/on   occupa<on  and   educa<on  Divides  buyers  into   Divides  buyers  into  different  groups   Psychographic   Behavioral   groups  based  on  based  on  social  class,   segmenta/on   segmenta/on   their  knowledge,  lifestyle,  or   aCtudes,  uses,  or  personality  traits   responses  to  a   product  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  33. 33. How  Do  We  Market  To  These  Segments?  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  34. 34. Marke<ng  Segmenta<on   New  vs.     4  Key   8  Major   16  Visitor   All   Returning   Products   Markets   Personas  100%  of  visitors   100%  of  visitors   1  segment  =  all     16  segments  =  all    h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  35. 35. Market  Targe<ng   Mass   Segmented   Niche   Local/Individual  Undifferen<ated   Differen<ated   Concentrated   MicroMarke<ng   Marke<ng   Marke<ng   Marke<ng  Targets  the   Targets  several   Targets  a  small   Prac<ce  of  whole  market   different  market   share  of  a  large   tailoring  with  one  offer   segments  and   market   products  and     designs  separate     marke<ng  Mass  marke<ng   offers  for  each  to   Limited  company   programs  to  suit     achieve  higher   resources   the  tastes  of  Focuses  on   sales  and     specific  common  needs   stronger  posi<on   Knowledge  of   individuals  and  rather  than   the  market   loca<ons  what’s  different     More  effec<ve   and  efficient  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  36. 36. Results  from  Mass  Marke<ng   Price   Direct  Sales   Fill  by  ad  networks   Volume  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  37. 37. Results  from  Market  Segmenta<on   Price   Direct  Sales   Audience-­‐based  selling   New  Revenue   Fill  by  ad  networks   Volume  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
  38. 38. Results  from  Audience  Targe<ng   Price   Direct  Sales   Audience-­‐based  selling   New   Revenue   Fill  by  ad  networks   Volume  h"p://emagine-­‐   Brand  Focused,  Socially  Ac<ve,  Digitally  Enabled  
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