One of the most effective ways to drive business outcomes is to create meaningful segments for deeper customer engagement. Hear how targetable segmentation is a type of insights work that yields clear direction on influencing customers.
A full transcript of the video follows:
So many brands out there have massive amounts of information on customers; everything from how much they spend to how they engage, either online or in person. But if you’re like most brands, you may struggle to understand how to take this data and transform it into meaningful target segments to find the most valuable segments that will lead you to innovations and opportunities for growth. That’s because this existing data or information alone is often ineffective at producing targets that are different in terms of needs, attitudes, and motivations — what we call the marketable traits, those that make a difference in guiding product development or marketing campaigns.
But there is a way to leverage your brand’s information for better segmentation, one that is differentiated and targetable. First, we take a deep dive into your existing information to really understand what’s there. We then capture a representative sample of your current and prospective customers looking for the most relevant information to create unique targets. This is done by capturing a combination of behavioral, attitudinal, and needs-based insights. We use these to uncover the real motivators, the whys behind customer decisions and actions.
From there, we create dozens of micro targets by connecting these marketable traits with your existing data. Through further analysis, we then combine these into typically five to seven macro targets that are differentiated in meaningful ways and are targetable. This makes it manageable for your marketing team to build unique approaches for each segment and to reach them more easily. For brands pursuing new market opportunities, this robust segmentation approach helps identify the most valuable targets and provides a strong estimate of the size of the opportunity.
For many clients, targeted segmentation has led to messaging that connects directly to the needs of customers. In one case, this resulted in a double-digit improvement in marketing campaign performance for a large financial services organization. In short, using this targetable segmentation approach pays off in many ways that link directly to brand innovation and growth.
Want to learn more about how unique targets can move your brand forward?