Prioritize Growth Through Customer Segmentation
Customer Segmentation Strategy
Many organizations center their strategy around a specific product or a portion of the market. However, as buyer personas evolve, successful companies realize that they must move beyond product- or market-focused and become customer-focused.
Customer segmentation represents a more focused view when compared to the traditional Marketing lens of market segmentation. In addition, customer segmentation analysis offers specificity allowing revenue and sales departments to curate their strategies on a granular level and look into individual factors that drive sales. As part of this process, leading companies use data from a range of internal and external sources to identify what value they can provide to individual customer segments.
Using customer segmentation, revenue and sales organizations assess their target audiences to find groups warranting different messages, channels and coverage models.
Alexander Group offers experience and in-depth research to help you identify, target and operationalize customer segments that lead to increased revenue growth.
Benefits of Customer Segmentation
Customer segmentation supports a sales strategy around a specific group of prospective buyers. While each prospect shares a common interest in your product or service, numerous factors differentiate them. Customer segmentation identifies the characteristics that link customer groups, helping you develop unique sales strategies for each group.
A customer segmentation strategy considers the target audience’s needs and delves into their pre-purchase habits. Variables commonly used include demographics, firmographics, purchase history and product or service usage. This approach also uncovers the information sales teams need to drive revenue. As a result, your Revenue Operations will benefit from targeted customer segments, products and messaging that support your growth objectives.
Alexander Group can help identify and implement your customer segmentation model to:
- Sell the right products: Customer segmentation considers your customers’ needs, opening opportunities to reflect on unique insights and provide innovation opportunities. In turn, the products you offer are more likely to succeed.
- Communicate the right message: Customer segmentation improves marketing strategies as some segments respond differently to the tone, phrasing and imagery you used in a recent marketing campaign. In addition, customer-level segmentation allows you to monitor and assess your marketing strategies to ensure you reach prospective and existing customers with compelling messages.
- Target the right customers: Two customers interested in the same product may require different levels of attention. Focusing on the customer requiring the least attention for the same sale helps increase revenue growth.
- Close the right deals: Connecting the right customer with the right product will enter them into a cycle that expands the relationship, adds value to the customer’s business and drives more revenue. No more wasting resources connecting the ideal customer with the wrong product or selling a great product to an uninterested customer.
Customer segmentation discipline evolves and grows to match the needs of your business. Alexander Group helps companies across industries, creating important customer insights that align with revenue growth goals.
Explore customer segmentation further
The Customer Performance Segmentation technique evaluates the underlying customer base to identify positive and negative growth trends at the account level.Read the Article
Dive into customer segmentation
Learn more about the different types of customer segmentations, how segmentation evolves as your business grows and read through examples of customer segmentation.