Since leading/managing your business, you’ve realized that no two customers/clients are exactly the same. Unfortunately, that can lead you to be taken advantage of by people who then claim that you must therefore market to everyone as well as market the same way to everyone. The result: your marketing budgets will be considerable and measuring your outcomes will be unruly.
But, fear not! You can always segment — that is, split your customers/clients into smaller groups — and then market to these smaller groups. The resulting benefits are considerable: you can build a better understanding of these smaller groups’ needs, priorities, purchase behaviours and obstacles to purchase. At the same time, you can hone your marketing budgets and collect meaningful measures.
Keep in-mind that when you decide to segment, the challenge then becomes: How do you develop meaningful segments? Robert and I delve into this topic in a future BusinessCast Podcast.
But, before we tackle how you can/should segment your customers/clients, here’s a fun and thought-provoking example that gives you a flavour of one way to segment a specific group of consumers.