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Why segmentation is more important than membership

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Associations Forum

  1. 1. <ul><li>Why Segmentation is More Important than Membership! - simple strategies to unlock growth </li></ul><ul><li>Michael Field </li></ul><ul><li>www.michaelfield.com </li></ul>
  2. 2. <ul><li>Why is Segmentation More Important than Membership? </li></ul><ul><li>What is segmentation? </li></ul><ul><li>Membership growth vs. targeted segment growth </li></ul><ul><li>What are the benefits of segmentation </li></ul><ul><li>How to start segmentation in your organisation today </li></ul>
  3. 3. <ul><li>What is segmentation? </li></ul><ul><ul><li>“ A market segment is a sub-set of a market made up of people or organisations sharing one or more common attributes.” </li></ul></ul>
  4. 6. <ul><li>A market segment must </li></ul><ul><li>Be distinct from other segments </li></ul><ul><li>Be homogeneous within the segment </li></ul><ul><li>Respond similarly to marketing efforts </li></ul><ul><li>Be accessible </li></ul>
  5. 7. <ul><li>Types of segmentation </li></ul><ul><li>Industry </li></ul><ul><li>Geography </li></ul><ul><li>Organisation size/revenue/turnover/employees </li></ul><ul><li>Job title/position description </li></ul><ul><li>Purchase history </li></ul><ul><li>Needs and aspirations </li></ul><ul><li>Sales cycle </li></ul>
  6. 8. <ul><li>The problem with growth for growths sake </li></ul><ul><li>Expensive to reach </li></ul><ul><li>Higher cost-to-serve </li></ul><ul><li>Difficult to manage satisfaction </li></ul><ul><li>Assumes ‘one-size-fits-all’ </li></ul>
  7. 9. <ul><li>Benefits of segmentation </li></ul><ul><li>Lower acquisition costs </li></ul><ul><li>Increase yield per member </li></ul><ul><li>Lower cost-to-serve </li></ul><ul><li>Higher member satisfaction </li></ul>
  8. 10. <ul><li>Needs-based segments considerations </li></ul><ul><li>Members wishing to; </li></ul><ul><li>Advance their career </li></ul><ul><li>Give back to their professional community </li></ul><ul><li>Network with other professionals </li></ul><ul><li>Access knowledge </li></ul><ul><li>Engage with regulatory, policy or advocacy interests </li></ul>
  9. 11. <ul><li>Successful segmentation case studies </li></ul><ul><li>B2B organisation achieved a significant sale price in a trade sale as a result of segmentation </li></ul><ul><li>Global online property achieved >30% response rates to segmented campaigns </li></ul><ul><li>Member services organisation significantly reduced member churn through targetted offerings </li></ul>
  10. 12. <ul><li>Start today </li></ul><ul><li>Determine what outcome you want from segmentation </li></ul><ul><li>Determine which segmentation approach is most appropriate for your objectives </li></ul><ul><li>Identify what customer data already exists </li></ul><ul><li>Source additional data where necessary </li></ul><ul><li>Decide if you want to conduct the segmentation in-house or outsource </li></ul><ul><li>Analyse internal data and identify missing information </li></ul><ul><li>Conduct market research to further explore/validate the findings </li></ul><ul><li>Review findings and identify opportunities </li></ul><ul><li>Map the report findings back to your project objectives and prioritise the action steps </li></ul>
  11. 13. <ul><li>Biography </li></ul><ul><li>
 Michael provides strategic marketing consulting, to business-to-business organisations, member services and not-for-profit organisations. </li></ul><ul><li>
 His professional experience includes director and executive positions across listed and private companies including publishing, online, start-ups, business to business, not for profit (NFP) and member services organisations. </li></ul><ul><li>
 His career began in publishing and progressed to online marketing where he launched Australia’s first online business directory. </li></ul><ul><li>
 Michael is the former General Manager of Marketing and Member Services for the Australian Institute of Company Directors (AICD) and was responsible for implementing a comprehensive needs-based segmentation programme, managing sponsorship, publications, e-business and the ASX Top-200 programme. </li></ul><ul><li>
 Michael is a member of the Australian Institute of Company Directors (AICD), founder of Next Director, has served as a non-executive director on the board of Save the Children Victoria, is a current council member of Save the Children New South Wales and is a former guest lecturer in marketing, small business promotional marketing and professional communication at Edith Cowan University in Western Australia. </li></ul>
  12. 14. Mobile: 0417 900 109 www.michaelfield.com [email_address]

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