Customer segmentation, targeting, and positioning are by far one of the oldest yet dependable strategies any organization can employ for their business. The strategic process is relatively simple if all the information is available.
Customer Segmentation, Targeting & Positioning Step by Step Guide
So how does this work?
Step 1: Create Define Criteria for Segmentation
The criteria can be the basic demographics of your customers such as gender, age range, profession, etc. Add some transactional information to further provide deeper insights such as Frequency of Purchase, Time of Purchase, Types of Purchase, Average Sale per Purchase, etc.
Step 2: Segment Your Market Based on the Defined Criteria
Segmenting can be a mix and match of anything. This will really depend much on the creativity of your team and will require deeper and deeper analysis. You need to set a certain threshold on how the deep the initial analysis should be or else you will never stop analyzing your data.
Step 3: Positioning Based on the Market
Customize your positioning for each target segment, primarily based on their personality, behavior, and lastly, based on your intent for each target segment. (e.g. Do you want to increase their visits, do you want to increase the average sale per purchase per customer, etc.)
Step 4: Campaign Implementation
The most important step — implement a campaign — is a strategy that employs all the information you were able to output from steps 1-3.
Well, there you have it. As we have said, the customer segmentation, targeting, and positioning process are relatively simple, but the actual work is tough. Great information can be extracted from even the simplest data set, just be creative and collaborative.
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Let J2E Tech help you with customer segmentation, targeting, and positioning and other important things about running a business. Services offered include Business Intelligence as a Service, Digital Marketing as a Service, Website as a Service, and Consulting. For more information, visit the J2E Tech’s Services page.