Salesforce - Market Segmentation
Quick intro
"Well, that depends." Isn't that a wonderfully ambiguous statement? When you're looking for information, "it depends" can seem like a non-answer. For businesses, however, “that depends” is sometimes the only answer that really works.
As business owners invest time, effort, and resources into marketing products and services, they inevitably ask, “How can I get the message across that my business is worth their time?” Well, that depends on the preferences of your customers.
What is customer segmentation?
When you try to use a one-size-fits-all approach to marketing, even the best strategy is going to have mixed results. Some customers will respond well to one campaign. Others may not. No matter how effective your marketing efforts are for some, or even most, of your customer base, they could fall flat with others — or even cause them to unsubscribe or block you.
How does it work?
In order to develop more effective marketing tactics, businesses will employ customer segmentation techniques. Then, using specialized software tools to gather and analyze data based upon those subgroups, they develop several different strategies designed to deliver the best results for each segment. Given that segmented marketing campaigns have been shown to generate an average a 760% increase in revenue, its effectiveness has already been proven.
