Are your marketing campaigns not as effective as they should be and failing to generate a better return on the cash you are plowing into it?

That's a problematic situation.

In such a case, you need to consider segmenting your audience; this allows you to find different types of customers you could target and create a more specific campaign for your prospects.

Segmentation: What is it?

As you know, every market comprises different consumers who can benefit from your product or service, and you could divide them into various groups or segments.

Hence, segmentation is the process of dividing your target audience into different groups based on similar characteristics, shared interests, demographic, or behavioral criteria to give them better precisely what they need or want.

After putting in many efforts to find emails and successfully building a potentially qualified prospect list, you cannot afford to lose your opportunity to make the best out of it.

Segmenting the audience allows conducting a personalized marketing strategy. And that's crucial when a vast majority of the consumers say they like their shopping experience more personalized than currently.

However, marketers often commit a mistake with their prospect list while segmenting their audience. Let me walk you through these mistakes in the rest of the article.

"One-Size-Fits-All" Approach

When you try to sell your product or service to everyone, you get nothing but to waste valuable marketing resources on the audience who either don't need them or are not interested.

There is a saying," When you try to make everyone happy, you'll end up making no one happy!"

The same logic applies to your audience's interests.

What's the use of preaching about how good your product is to the wrong audience? There is no way they'll buy it. 

Therefore, you must trash the "one-size-fits-all" approach.

Better Product Development

Based on the Harvard Business Review, more than thirty thousand new consumer products launch every year. Sadly, only five percent are able to succeed.

What about the remaining 95%?

They fail to succeed because due to one of the below reasons;

• Fixing a problem that doesn't exist
• Unreasonable Pricing
• Failing to understand the consumer requirements
• Poor execution
• Delayed market entry
• Not having a solid team and internal capabilities

If you notice, you can rectify some of these problems just by segmenting your audience correctly.

By concentrating on a specific segment that's of your desired audience can quickly get you effective results. 

It will be best if you looked at the lives of your target audience, or else you may be cutting your chances of colossal revenue down. 

Creating Segments Based on Limited Data

Your marketing strategy will be limited if you target a segment created using the limited data. 

For instance, if you wish to create promotional offers for men, and if you haven't collected the gender-specific details, it's not possible to send emails to only men in your prospect list.

Can you run a campaign based on guesswork?

No, right?

Similarly, your campaign shouldn't be based on limited information or data, either.

Blindly Using all Communication Channels

Not all your consumers wish to hear from you on all the channels. Instead of targeting your entire segments through all social media channels, the solution is to use the appropriate channel for each consumer segment. This approach allows you to connect with your audience based on their past activities and attributes.

Final Thoughts

Get ready to refresh your segments & ensure they work for you.

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