Many companies are challenged by segmentation and don’t do it well. Segmentation can enable you to identify and focus your resources on the customer groups who each have different values for your offering. To maximize your sales, your offering needs to be differentiated for each value segment. However, discovering segments to deliver business growth is not always obvious. In this class, that is what you will learn how to do.
Segmentation Done Right
You will explore how to go beyond demographics and sales history and other similar common segmentation approaches. The right segmentation approach depends on your business objective. So, understanding which segmentation approach enables the capture of more revenue is key. To be successful with new products or services, you need to segment the market based on how groups of potential customers will respond when you launch.
We address how to get that learning from data collected from the market itself. In this interactive class, you will start by generating segments from what you know today. Then you will understand how to collect the market data necessary to test or validate your initial thoughts. Factors like needs and behavior-based (past and future), as well as the value for your offering, provide the input to establish actionable segments. Once your segments for business development success are validated, you can have confidence in the response they will have to your product, price and positioning. How to achieve that level of confidence is what this class is all about.
Pre-work: Be prepared to share how your company does segmentation today.
About the Author
Pamela Roach is CEO of Breakthrough Marketing Technology. She is dedicated to our mission of enabling businesses to make decisions based on fact. She has designed, collected, analyzed, and delivered the intelligence necessary to produce insights into the motivations, attitudes, and outcomes that characterize multicultural targets. In addition to her work at Breakthrough, she also teaches graduate students Integrated Marketing and Media Campaigns at NYU School for Professional Studies.