How well do you know your customer? Segmentation may be your next step
Many marketing teams sit around tables and suggest their customers look a particular way or show certain behaviors. You have likely heard from call center representatives that tell you they “know” the customer. Or, is it the CEO, CMO or another leader that understands the way the customer acts and thinks? The best is when others around the table say they talked to a customer the other day and want to change a strategy or message based on that single interaction.
Admittedly, there are times intuition can lead to victory, but in our data rich world there are easier ways to understand our customers. Below are several different profile/segmentation programs that can be used by marketers to reveal true insight about their customers' behaviors.
Mosaic is a lifestyle segmentation model. Moderately priced, it gives you great detail on how to communicate to your customers. By identifying past behaviors of your current customers, the segmentation is broken into over 70 different profiles that include titles like American Royalty, Boomers and Boomerangs, and Everyday Moderates. Mosaic segmentation provides channel preferences for communication (email, direct mail, radio, TV, etc), as well as sample messaging tone with key features. It also includes the basics like age, income, and age of children. This segmentation would be helpful to those looking for the best ways to talk to their customers.
Another lifestyle segmentation is PRIZM. With 66 segments, PRIZM focuses on purchase behavior (Apparel, Automotive, Travel, Home Furnishing, etc), as well as segment based on media behavior (Television, Cable, Radio, Internet). The 66 Segments are broken down into 11 life stages and 14 social groups.
With over 58 segmentations, P$YCLE can be used to evaluate your customers based on key demographics that affect financial behaviors. Many marketers use this segmentation when promoting financial and investment services and products. With some advanced usage, it can help product managers and/or marketers create a customer buying journey.
As one might guess, GreenAware is a segmentation to target the green consumer market. Taking current customers and segmenting them out into environmentally friendly groups can help with cross sell or additional communications. Understanding this market will allow you to identify a prime group for paperless billing, or other green activities. Interesting enough, it will also identify those that are considered "True Browns” who are not environmentally conscious.
Besides the ones listed above, there are many other segmentation groups available. Below is a short list of additional possibilities:
Auto in the Market
Simmons Health and Well-Being
Here at B2E, we have access to various types of segmentations and understand the options on how they can be used to help a marketing team reach their goals. Let use know how we can help you.