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B2B Market Segmentation is hard. It is very different than segmenting consumer markets. Free video explains why.
Numerous articles have been written, and debates engaged, about the question, “Are market researchers bad marketers?” It does strike one as odd—that a profession so driven to understand customer attitudes and behaviors, can’t seem to apply the discipline for its own marketing—and ultimately revenue-generating—benefit.
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Here are a few practical tips about what you should see in a market segmentation proposal. If you see these things, it tells you that this proposal is from an experienced market research firm that understands how to mitigate the risks specific to segmentation projects.
They used an “a priori” segmentation model. Yup, that’s right. They went into the study with a hypothesized set of segments in mind. The segments were based on behavioral data from their existing customer database. During the presentation, this confused me. We were, after all, in a session on conducting segmentation. The process was defined as qual, leading to quant. But the speaker occasionally referred to the segments they started with…
Computer-based training (CBT), also known as eLearning, is a time-efficient, cost-effective training option for busy professionals.
Market segmentation is all about sales and marketing ROI. The premise is that to maximize success with a large population of customers, it is best to divide it into logical subgroups. By dividing one large, generalized market into subgroups, you can fine-tune your product, messaging, promotional, distribution and related strategies to meet the specific needs of unique customer groups.
A tricky part of successfully delivering client insight data is knowing how much data your audience really wants. So, be honest with yourself: do you understand your colleagues’ or clients’ data appetite?
