This document discusses how businesses can use market segmentation tools and analysis to better understand their customer base, discover new market opportunities, and build stronger customer relationships. It provides an overview of common segmentation methods like regression, CHAID, clustering, and penetration analysis. The rest of the document describes case studies of how different companies have successfully applied these segmentation tools to gain insights into their best customers, identify lookalike prospects, improve marketing campaigns, and expand into new market segments.
Industrial Market is another name for B2B (Business to Business) Markets.
This presentation focuses on
1. Segmentation Variables for Business Markets
2. Effective Segmentation Criteria
3. Steps in Segmentation Process
Industrial Market is another name for B2B (Business to Business) Markets.
This presentation focuses on
1. Segmentation Variables for Business Markets
2. Effective Segmentation Criteria
3. Steps in Segmentation Process
this ppt contains strategies for the industries involved in the services business, by segmenting and targeting the markets according to the available resources, and how to change the own relations at the interface level
How should Business markets be segmented?Sameer Mathur
This presentation tells about how business markets should be segmented.
Based on Chapter 7 Kotler
Marketing Management : A South Asian Perspective 14th Edition (English) 14th Edition
Everything you need to know about marketing segmentation, from the marketing experts at Adashmore Creative. This presentation helps you figure out where to start, factors to consider, best practices, and how to use segments to your advantage.
this ppt contains strategies for the industries involved in the services business, by segmenting and targeting the markets according to the available resources, and how to change the own relations at the interface level
How should Business markets be segmented?Sameer Mathur
This presentation tells about how business markets should be segmented.
Based on Chapter 7 Kotler
Marketing Management : A South Asian Perspective 14th Edition (English) 14th Edition
Everything you need to know about marketing segmentation, from the marketing experts at Adashmore Creative. This presentation helps you figure out where to start, factors to consider, best practices, and how to use segments to your advantage.
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There’s no question that the right marketing strategy for your business will depend on your brand, your business capabilities, your solutions, and most importantly, your market. But knowing the distinct trends can and should influence your marketing priorities.
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Business Segmentation
1. How to Apply a Business
Segmentation Product to Build
Relationships and Discover Market
Potential
2. Market Segmentation
• A Market Segment is a subgroup of
organizations that have one or more
characteristics in common that cause them to
have similar product or service needs.
• Market Segmentation is the process of
dividing the market into meaningful, relatively
similar and identifiable segments and groups.
4. What issues are indicators of a need for
segmentation services?
• Rapid customer base churn
• Product/services sold across a wide spectrum of
consumers or industries
• Multiple channels of distribution (field/telephone sales,
brokers, et. al.)
• Low market penetration
• Unclear understanding of what constitutes the “best”
customer set
• Low response rates on solicitation
• Low approval/acceptance rates
5. Some Tools for Segmentation
• Regression
• CHAID
• Basic Demographic Profiling
• RFM Analysis
• Proprietary Cluster Systems
6. Which is the “Best” Solution?
• Each method has pros and cons
• Any segmentation problem has a marketing
decision or implementation objective
• Apply the method that will meet the marketing
requirements
▫ Evaluate customers, prospects, or both?
▫ Require continuous scores or are segment-defined
scores acceptable?
▫ Time and cost constraints?
7. hat’s in it for me?
• Who are our best customers?
• Where can we find more of our best customers?
• How can we more effectively reach customers for
our products and services?
• Where should we best expand our market area?
• What characteristics are common in our top
customers?
• How can we tailor our message to each segment of
our customers?
• How can we better allocate our sales resources?
• What segments of the market need our services
most?
8. Applying Segmentation Tools to Discover
Market Potential & Build Relationships
• Four industries using four different segmentation tools.
• Tools / applications ranked by segmentation complexity:
regression, CHAID, cluster, penetration.
• All tools are valid. Identification of appropriate tool is
dependent upon desired results, available resource, and
sophistication of users.
9. Applying Segmentation Tools
to Discover Market Potential & Build Relationships
Case Study: Commercial Oil Card
• Oil card positioned for mid-to-large size fleets.
• Multiple channels of distribution: sales force,
wholesalers, retail POP take one apps.
• Challenge #1– identify prospects likely to have large
fleets that travel longer distances and consume higher
volumes of petroleum products.
• Challenge #2 – pre-approve or prequalify prospect on
credit basis for card issuance.
10. Applying Segmentation Tools
to Discover Market Potential & Build Relationships
Case Study: Commercial Oil Card
• Combined customer transactions with external
firmagraphics in regression model
• Regression segmentation tool to predict consumption
and pass risk hurdle
• Reduced credit rejection rate by 60% and increased
top line revenue by 35%
• Major beneficiary of improved relationships were
internal sales channels
11. Applying Segmentation Tools
to Discover Market Potential & Build Relationships
Case Study: Health Care Insurer
• Regional heath care insurance organization using
direct response to create inbound inquiries for small
employer group market.
• Prospects selection based upon size, SIC, number of
employees and geography. Quarterly mailings to all
qualifiers.
• Issue: Are all prospects equally valid?
12. Applying Segmentation Tools
to Discover Market Potential & Build Relationships
Case Study: Health Care Insurer
• Marketer’s dilemma: applying limited budget to get the
best results.
• Marketer’s objective: increase the number of inquiries
into the call center.
• Solution: CHAID analysis of customer set to identify
characteristics of prospects most likely to respond to
solicitations.
• CHAID allowed marketer to change mix of prospects:
more mailings to organizations most likely to respond,
fewer to less likely responders.
13. Applying Segmentation Tools
to Discover Market Potential & Build Relationships
Case Study: Uniform Rental
• Uniform supply organization supporting prospecting efforts of
multiple business units and branch offices
• Telemarketing used to survey and prequalify prospects for local
sales offices
• SIC/size selects used for several years to pull best prospects
• Challenge #1: prospect pool diminishing due to over-selection
• Challenge #2: have current business practices for prospect
selection left good prospects on the table?
14. Applying Segmentation Tools
to Discover Market Potential & Build Relationships
Case Study: Uniform Rental
• Customer file matched to reference universe file
• Simple penetration reports generated to look at
penetration with existing sic/size select criteria as
well as identify opportunities to expand selection
based upon management intuition and knowledge
• Identified new segments for selection and kept the
pipeline full
15. Applying Segmentation Tools
to Discover Market Potential & Build Relationships
Case Study: Office Products & Equipment
• National provider of supplies and equipment to retailers
and wholesalers
• Provides marketing support to channels to sell to end-
users
• Challenge #1: All businesses consume products. Who
buys more and why?
• Challenge #2: Retailers and wholesalers own the client
relationship. How does the provider help identify salient
consumption characteristics of end-users when they
don’t have the direct relationship?
16. Applying Segmentation Tools
to Discover Market Potential & Build Relationships
Case Study: Office Products & Equipment
• Solution analyzed ship-to information: host
organization often ships products directly to the retailer/
wholesaler customer to expedite delivery.
• Ruf business cluster segmentation tool used to identify
characteristics of the ship to locations and segment on
basis of size and penetration
• Rank ordering showed 5:1 lift top quintile vs. bottom
quintile
• New program has prospects selected among records in
top quintile
17. Applying Segmentation Tools
to Discover Market Potential & Build Relationships
Case Study: Office Products & Equipment
• Business Clusters: a combination of has US business
demographic and econometric information
• Business Clusters create flexible and immediately
actionable segmentation for virtually any measurable
objective
• Mid-range modeling solution provides faster and
more economical segmentation than custom
solutions
18. Case Study: Office Products & Equipment
Mission for Business Cluster Product
• Create a general business segmentation tool for the
national business “universe”
• Provide a highly flexible segmentation solution
▫ Handle multiple objectives with a common tool
• Incorporate “deeper” data than typical business
demographics
• Generate cluster profile models rapidly and economically
• Provide additional input data for custom modeling using
other statistical tools
19. Data Used in Formation of Business
Clusters
• Business demographics
▫ SIC
▫ annual sales
▫ employee size
▫ location type
▫ years in business
▫ business type
▫ etc.
• Econo-metric Footprint variables
20. Econo-metric Footprints
• Proprietary variables developed by DMS’s partner Ruf
Strategic Solutions.
• Businesses are affected by surrounding areas
• Built using economic data from:
▫ US Dept. of Commerce
Bureau of Economic Analysis
Bureau of the Census
▫ Consumer data
• Provide unique advantage to business segmentation
techniques
21. Econo-metric Footprints
Office Office Supplies
Supplies
Place - Montgomery
SURFACE
Place - Manhattan
# Employees - 23
RELATIONSHIPS
# Employees - 23
SIC - 5943
SIC - 5943
R v n e - 5 ml
ee us i
Revenues - 5 mil
High Growth
HIDDEN
Flat Growth
Labor Shortage
RELATIONSHIPS
Labor Oversupply
Moderate Crime
Low Crime
Impacted by Textiles
Impacted by Finance
Low Tech
High Tech
Older Consumers
Younger Consumers
Etc. . . .
Etc. . . .
23. Top Performing Business Clusters
Office Products Client
Rank Cluster % of Customers % of Businesses Index
1 7018 0.82 0.11 724.38
2 7029 0.81 0.12 656.17
3 7028 2.28 0.37 622.65
4 7034 1.50 0.26 582.95
24.
25. Key 2 Digit SIC codes by market penetration
Office Products Client
Rank SIC Code Description % of Customers % of Businesses Index
1 36 Electronic Equipment and 0.94 0.21 438.98
Components
2 38 Instruments and Related Products 0.53 0.13 417.87
3 26 Paper and Allied Products 0.37 0.10 370.81
4 30 Rubber and Miscellaneous Plastics 0.58 0.16 362.13
Products
30. Applying Segmentation Tools
to Discover Market Potential & Build Relationships
Implementation
• We’ve analyzed the customers. We see the top prospects
are in the top quintile.
• We communicate this to the distribution channel with
the appropriate collateral that explains how we can
identify better candidates
• We provide the distribution channel a means of ordering
these “better” prospects to create relationships using
different communications
• We follow up as best we can to determine if these new
prospects are converting at a higher rate
31. Start with the end in mind!
• Understanding the marketing objective drives all
decisions
▫ What behavior do we want to optimize?
▫ What input data will be needed?
▫ How will the results be implemented?
▫ How will we be able to measure success?
• Conceptualize how successful segmentation will
impact your ROI
• Competitive Advantage