Marketing Consulting on Customer Segmentation Lincolnshire

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Management & Marketing Services
01526 352892
Unit 2A Tattershall Road Industrial Estate
Woodhall Spa

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D K Marketing Services Ltd
01472 852333
8 South Street
Market Rasen

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14C Marketing Marketing
01522 684360
Unit 1

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Marketing Ideas
01522 750517
Oak House

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Joe Buckner Ltd
01507 600627
84 Newmarket

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Lincoln Management Field Marketing
01522 534566
2 Monks Way

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Chris Moreno Ltd
01522 511116
2-4 Clasketgate

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J D Industrial Marketing
01526 321333
Chestnut Close

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Duet Marketing Ltd
01522 705353
22 Tudor Road

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U S Eurolink Marketing Services Ltd
01507 523180
10 The Sidings

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Segmenting Your Customers - Uncovering Hidden Value

Although markets consist of customers with similar needs, customers still differ in many ways, such as the benefits wanted, how price sensitive they are, and the quantity and frequency with which they make purchases.

Therefore segmentation is the process of dividing customers within a market into distinct groups based on these differences.
The process works in the following way:

  • Segment your customers into distinct groups based on past actions or preferences

  • Develop a relevant communication strategy with each group

  • Position your various products or services in a way to appeal to each group
    For example, you may separate people based on average spend, how recently they made a purchase, or how often they make purchases. When segmenting your database remember the following advice:
    • Make groups the right size – too large and they won’t be focused enough, too small and it won’t be worth going to the effort to target them.

    • Have enough groups to suit your requirements.

    • Ensure that each group is different and distinct – without this you’ll be unable to develop unique offerings for each group.
    If you have a database of members you may want to divide your database into those people who are current members, those who have been members at some point in the past, and those who have some connection but have never become a member.
    Having segmented your database you can use the data to develop distinct marketing strategies for each group based around:
    • Direct mail
    • Individualised email marketing communications
    • Product development
    The aim is to move people down the marketing funnel : prospects to customers, customers to repeat customers, and repeat customers to high-value customers.
    For example, you could send a membership offer to people who were members in the past, inviting them back for a special free trial. Always individualise communications, as Marilyn Latham is the Marketing Manager for Lyris Technologies highlights:
    "Sending out a single email message to every address in your database whenever you wanted is so 20th Century now!"
    To your most loyal customers you could send out a voucher along with 5 discount vouchers for their friends. This will further strengthen their loyalty and as you know that they’re likely to have a positive opinion of your company they&rs...

    Click here to read the rest of this article from Marketing Minefield