Imagine you’re at a
shooting range trying to get a shot at a target from 50 meters away.
What are the things you require to master this shot? You are correct focus and a good Trigger to help to shoot.
Customer segmentation is a way to focus attention on your marketing and marketing strategy, and targeted marketing triggers the sends the correct message to the right person at the right time.
If you don’t segment your customers You are shooting a machine gun in all directions, and not only failing to hit all targets, but also waste your precious bullets.
As per Mckinsey report, retailers who run marketing campaigns that are tailored to various audiences can achieve up to 5percent more sales.
What is Customer Segmentation & Target Marketing
Customer Segmentation can provide insights into the scene of the market through the development of characteristics of the customer which can be utilized to divide customers into segments that share something similar. The segments can be created according to the demographics of the customers geographical location, as well as buying behaviours.
Once you have your segmented customers, then you are able to focus your marketing efforts to some or a few important segments that comprise of customers whose requirements and preferences best match your service or product. This is referred to as targeted marketing.
Benefits:
A higher rate of customer satisfaction Streamlined marketing strategies are tailored to the individual consumer’s requirements and wants, which results in a greater satisfaction rate.
More engaged customers When your customer get the correct and personalized message at the right moment they will feel better connected with your business or brand. Find out more about how to improve your customer engagement.
Lower costs for marketing The resources and effort aren’t wasted on reaching out to everyone, or pleasing everyone Instead, a select group of consumers are contacted by those who are likely to buy or consume the item or service.
Enhance the revenue of your business: focusing on the right customers with targeted messages is increasing the effectiveness of your marketing effort, thus increasing revenues.
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