Ads are everywhere but how can we get ahead in the fierce competition for customers’ eyes without compensating effort and budget?
Not all customers are the same, that is why the one-size-fits-all approach to marketing does not equate to better return of investments (ROI) for marketing departments. Knowing your customers and delivering a specific message directed to a target group is one of the most effective and cost-friendly strategies in achieving your business goals. But we never know where a consumer is going to be, what the consumer wants and which product characteristic the consumer needs at any point in time, so how do we do this?
Segmentation is the division of a market’s customers into discrete groups along distinct commonalities, used to effectively identify and zoom in on customers’ characteristics and behaviors for the purpose of optimizing marketing ROI and customer retention. Mind of Marketing blog site’s brief example of segmentation win-backs shows that it could be very tricky, however, doable. The process of properly clustering customers to achieve specific business objectives is complex and requires various data-driven analytic tools that are usually only provided by 360 data agencies. The goal-oriented process of segmentation, when done properly, could significantly help in improving your ROI by distinguishing your target customers.
Know Your Customer
According to Michael Savio, Head of Insights at Datalicious, segmentation allows entrepreneurs to learn much about their customers leading to a personalization of contacts. Personalization makes for a unique product offering for each customer based on their interests which could be used for future product suggestions. As enamored as we all are with big data, how can we funnel that down to what’s relevant and actionable?
How Datalicious Can Help
Datalicious, a global big data analytics agency, has the pleasure in filling that role by tapping into big customer data and using analytic strategies to help entrepreneurs come up with a proper context from gathered customer information so that you will not fall into false leads. Datalicious can refine gathered data and turn it into relevant insights that are actionable and usable, and help you design personalized campaigns which ultimately lead to customer loyalty.
If you are a new marketer, getting started with big data for segmentation would likely prove to be a daunting exercise. Dr. Frank Wyman enumerated the best practices and key trends in going about your segmentation in his research work. These listed practices tell us to take advantage of big data but in order to do so, you will need the proper platform that could handle the volume and variety of data. The expertise of Datalicious, rooted from decades of serving some of Australia’s biggest companies, could do this for you. Its capabilities to determine what is relevant and to determine the context of information could help you make better decisions for your business.