Join Doug Ladd for an in-depth discussion in this video Next steps, part of Marketing Foundations: Customer Segmentation.
- You now have the tools and training to dive deep and understand which of your customers are the most profitable for your organization and how to select new targets. Being able to sift through all your customer targets to determine which are the most profitable and attractive to your business, will help you with more efficient deployment of your people and budgets. Companies that do customer segmentation well, have learned that they can create customized marketing and sales programs, add or enhance features to existing products, prioritize new product and service development projects, adjust pricing to maximize revenues and profits, refine their distribution strategies, modify service levels, and gain greater share of wallet from their existing customers.
If you'd like to explore this topic more deeply, one of the best ways to see what other companies are doing so you can gain ideas and insights is to read the Wall Street Journal on a daily basis. Advertising age is another great source for information as well. And in the Exercise Files, I've included the names of some books and articles where you can explore more deeply. In most cases, you'll have the customer information you'll need to complete the segmentation work within your company records so you can already get started.
I've covered the tools you need to do the assessments in the analysis, but there's also a lot of fun to be had as you work with others in your organization to develop the insights to craft your customer personas. You now have the tools to help you get it done. Congratulations on completing this course, I hope you enjoy putting these new skills to work.
- Segmenting by location
- Segmenting by demographics
- Segmenting by usage or other behavior
- Why segmenting is important
- Creating and using customer personas