The key to creating a marketing strategy is being able to quantify the market. Determine a plan of action to reach the people that haven’t been reached. Not everyone will or should be your customer. By knowing your potential customers’ demographics, your business can narrow its dollars efficiently. Segmenting helps generate an effective plan that will target specific demographics.
Customer Segmentation means to divide your customers into groups that share similar characteristics. Customer Segmentation can help you identify unmet customer needs that can then be used to outperform the competition by developing uniquely appealing products and services.
Use Segmenting to:
- Divide customers and identify unique needs based on behavior and demographics
- Evaluate sales and profit potential of each segment
- Develop targeted marketing strategies
- Measure marketing and sales performance effectively
Dr. Elijah Clark (March 29, 2016). Segmenting your customers [Web log post]. Retrieved from http://elijahclark.com/segmenting-your-customers/