Customer Segmentation is a fantastic tool that when utilised correctly can drastically improve a company’s understanding on their clients’ preferences and needs. The ideologies behind customer segmentation essentially operate under the fact that people not one person is the same, so therefore you can’t market to everybody in the same manner. It simply won’t work. Customer segmentation employs the quality over quantity approach. With that in mind, companies therefore target specific smaller groups with relevant messages and offers. This customer segmentation, and this blog will delve further into the topic.
What Are the Factors of Customer Segmentation?
In order to segment your customers successfully, identify relevant factors that you can then in turn target and market to. These factors are also known as you segments. Traditionally, these segments are fairly straight forward, and even s o are still fairly general. Traditional segments that companies may well implement are:
- Demographic segments
- Behavioural tendencies
- And psychographic segments.
Whilst these segments will offer you a degree of depth, you’ll have more success if you’re able to segment your consumers in more depth and detail. An example of a publisher doing this successfully is by using preferred authors as a segment.
By using this segment, publishers are able to successfully market to their readers who only like that author. If you compare this to using an age segment for example, it’s a much more effective way of marketing and in turn will reap greater rewards.
Benefits of Customer Segmentation
Now that we’ve identified what the factors of customer segmentation is, and how it works, it’s time to delve deeper into how you can greatly maximise it to your advantages. One of the benefits of customer segmentation is of course the data. By segmenting your customers, in turn you’re able to use the measurable data it provides you, and turn it into actionable information. This will allow you to identify which of your customer segments are bringing in the most revenue, and which ones aren’t, so you can then ultimately come up with a strategy to improve the marketing efforts for segments that aren’t doing as well. It also will allow you adjust your marketing budgets to reflect what the segments are doing for your business revenue wise.
Evolok and Customer Segmentation
What can Evolok contribute to customer segmentation? Our smoking gun is real time personalisation and customer segmentation. This essentially means that as a user is on a website which has the Evolok framework implemented on it, we’re segmenting them and sending them personalised information in real time. The reason behind this is that if a consumer is accessing your content, then it means that they have an interest in it. Instead of waiting until a consumer has logged off or sending them relevant content a day later, we do it in the moment, whilst they’re still active online. This in turn leads to more chance that your consumer will purchase something, whether it’s a subscription plan or a product, the Evolok framework can be seamlessly plugged in and work perfectly alongside your websites. Don’t hesitate to contact us for further info.