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Finding Your Best Growth Segments

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Now that you are collecting high-quality reliable data about your website visitors, app users and products, it's time to start using that data to build superior growth marketing programs.

In this webinar, we will talk about:

How to ask yourself the right questions so that you can define your best growth segments
Why testing is critical in segmentation and how to run a successful a/b test to your segments
How to leverage your defined segments to generate yield, including ideas for marketing automation, personalization, and taking advantage of look-alike audiences

Published in: Marketing
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Finding Your Best Growth Segments

  1. 1. Finding Your Best Growth Segments RYAN KOONCE, MAMMOTH GROWTH
  2. 2. @Kissmetrics #Kisswebinar @thuelmadsen
  3. 3. Thue is the Kissmetrics Webinar Wizard and Marketing Ops Manager. Before joining forces with Kissmetrics, he was a Lyft driver in SF, which is also how he ended up as a Kissmetrics marketer. Whenever Thue is not trying to automate everything around him, you can find him hiking in the Sierras. THUE MADSEN Marketing Operations Manager, Kissmetrics @ThueLMadsen As CEO of Mammoth Growth, Ryan works with his team to help clients leverage data to drive growth. He is also Executive Chairman of Attributionapp.com, a SaaS platform providing multi-touch attribution, and Managing Director of Roaring Bull Studios, a social game studio. RYAN KOONCE CEO, Mammoth Growth @mammothgrowth
  4. 4. @mammothgrowht #Kisswebinar @ryankoonce
  5. 5. 1 Section One - Introduction Understanding Segments Product / Service Segmentation Customer / Behavioral Segmentation Understanding Different Customer Segment Types Segment Testing Leveraging Segments for More New Users 2 Section Two - Finding Your Best Growth Segments 3 Section Three - Questions! TABLE OF CONTENTS #Kisswebinar
  6. 6. Two Kinds of Segmentation - Product or Service Segmentation - Customer / Behavioral Segmentation WHAT IS A GROWTH SEGMENT? #Kisswebinar
  7. 7. GROWTH SEGMENT FEEDBACK LOOP #Kisswebinar Sell Product or Service Segment and Understand CustomersDefine New Segments and Niche Opportunities
  8. 8. Product or Service Segmentation - A singular or focused solution that can meet the needs of many customers. - Allows differentiation that narrows the competitive landscape PRODUCT / SERVICE SEGMENTATION #Kisswebinar
  9. 9. If you have a specialized product in a segment that you own, you have pricing power because the incremental value of that niche feature usually outweighs the additional price. #Kisswebinar PRODUCT / SERVICE SEGMENTATION
  10. 10. How do you choose your product or service segment? - Deep understanding of the buyer in the niche - Deep understanding of the market in the niche #Kisswebinar PRODUCT / SERVICE SEGMENTATION Vs.
  11. 11. Take a few seconds to think about your product or service segmentation. - Is it unique enough (product or service)? - Is it in a unique enough market niche? #Kisswebinar PRODUCT / SERVICE SEGMENTATION
  12. 12. Being the cheapest option is never a good segmentation strategy. Unless you are Amazon. #Kisswebinar PRODUCT / SERVICE SEGMENTATION
  13. 13. Jeff Bezos Amazon Your margin is my opportunity. “
  14. 14. Customer Segmentation - Getting more from your current customers - Getting more customers like your best customers CUSTOMER / BEHAVIORAL SEGMENTATION #Kisswebinar
  15. 15. Obvious Segments - Geography (Language) - Demographics - Gender - Device / Platform UNDERSTANDING YOUR CUSTOMERS #Kisswebinar
  16. 16. Other Segments to Consider - Customer Lifecycle - Attitude - Behavior - Motivation UNDERSTANDING YOUR CUSTOMERS #Kisswebinar
  17. 17. GROWTH SEGMENTS #Kisswebinar Learning Trying Buying Advocating Customer Lifecycle
  18. 18. Customer Lifecycle GROWTH SEGMENTS #Kisswebinar First time Visitor Regular Visitor Subscriber Advocate
  19. 19. Attitude / Beliefs GROWTH SEGMENTS #Kisswebinar
  20. 20. GROWTH SEGMENTS #Kisswebinar Behavior - Great Referrer (advocate) - Big Spender (whale) - Regular Visitor
  21. 21. GROWTH SEGMENTS #Kisswebinar Motivation Buy a Pair, Give a Pair
  22. 22. Where to start? #Kisswebinar
  23. 23. UNDERSTANDING YOUR CUSTOMERS #Kisswebinar There is no magic bullet
  24. 24. Steps to Segmentation Success 1. Ask the right business questions 2. Define the metrics that provide the answers 3. Use the right tools to collect the metrics interpret the right data 4. Test -> rinse and repeat STEPS TO SEGMENTATION SUCCESS #Kisswebinar Segmentation Success = Higher Conversions
  25. 25. Steps to Testing Success 1. Focus on the best opportunity for yield (low hanging fruit) 2. Make sure you have enough sample 3. Be rigorous STEPS TO TESTING SUCCESS #Kisswebinar
  26. 26. DEFINING TESTS BASED ON TARGET SEGMENTS #Kisswebinar Learning Here’s some great information on how to set up the product! Customer Lifecycle Message Testing Trying We noticed you haven’t tried Feature X yet! Give it a try! Buying 50% off your next purchase of $50 or more one day only! Advocating One more referral and your next month is free!
  27. 27. Attitude / Belief Message Testing DEFINING TESTS BASED ON TARGET SEGMENTS #Kisswebinar Trump is Great! Trump is Dotard!
  28. 28. Get more best users 1. Define your “best customers” using segmentation 2. Create lists and upload for Facebook lookalike/custom audiences 3. Tailor message to new lookalike audience (for higher conversions) USING THE DATA TO GET NEW CUSTOMERS #Kisswebinar
  29. 29. THUE MADSEN Marketing Operations Manager, Kissmetrics @ThueLMadsen tmadsen@kissmetrics.com Questions? RYAN KOONCE CEO, Mammoth Growth @ryankoonce ryan@mammothgrowth.com

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