The Key To Great Customer Segmentation
Great customer segmentation is something that gets thrown around a lot in advertising & marketing circles. Truth be told, it’s just fancy words for narrowing one’s focus on exactly the right customers to buy your product/service. However, narrowing said focus in just the right way isn’t as easy as it seems. In fact, there’s a science to the whole process. And just like the kind of science that require Bunsen burners & test tubes, unless you know what you’re doing, you’re likely going to muck it all up.
Great Customer Segmentation: It’s No Gimmick
There’s gotta be a trick to it, right? Considering customer segmentation is often seen as a way of reading your ideal customer’s mind, much like that parlor trick, there’s likely strings attached. Well, sorry to break it to you, but no, no parlor trick here. It turns out that customer segmentation is 100% the real deal. When you see it done well & it looks smooth as molasses, it’s because it’s being done by the folks who’ve mastered the strategy.
Being Resistant to Change: A Gamble That’s Just Not Worth It
But maybe you want to still dig your heels in & go about finding customers your own way, the old-school way of just getting your name out there in any way, shape, or form. You start sinking money into print ads & even a few media ads like TV spots and radio commercials because you feel, in your heart of hearts, you’ve got a good hunch. Great! Right before you get absolutely bombarded by customers, translate that hunch of yours into a possible return on your investment.
You can’t for one reason — it’s impossible. Your hunch is no better than buying a few different types of lottery tickets & crossing your fingers, hoping one of them pays off. How has that strategy worked out for most folks? Most of them are still scratching tickets on the sidewalk outside the gas station using the dollar they won to buy another ticket & coming up empty.
This is not the approach a person running a business should have. It’s irresponsible, reckless, and puts your livelihood on the line. Don’t forget you’re also playing with the jobs of your employees who have faith in you. The last thing you want them to know is that you’re banking the future of your business on a guess & not even an educated one at that.
Data, Data, Data…and More Data
Customer segmentation is a strategy that, when done well, allows a business to know exactly where to market, to whom to market, and how to market. That’s unrivaled accuracy that every business should aspire to at all times. At the heart of every solid customer segmentation strategy, there is one crucial element — data. Information is what is key to making it all work. The more info you have, the better able you are at understanding where your focus needs to be.
When It’s Time to Get Help
Businesses tend to have two big issues they wrestle with a lot. First, they don’t have time to look through a ton of data. And second, they don’t know how to read data. The real doozy is when it’s a little of both. This is where partnering with a great advertising firm can be the single most important business decision a business owner can make. By working with a firm that actually knows what they’re doing & can provide guidance, you are better equipped to know how best to move forward in reaching your best customers.
MindEcology, an Austin advertising agency, can show you what customer segmentation should look like. See what they can teach you today.