Market Segmentation: Gathering Intelligence On Your Consumers

Not everyone is interested in what you’re selling. You can’t afford to waste your time and money creating advertising for people who will never be your customers. Instead, you have to focus your operation on a target market—your quintessential clients.

Finding your target market requires a categorization process known as market segmentation. By carefully deciphering the demographics, beliefs, and other traits of consumers, you can interpret their needs and desires and create a strategy that addresses them. You can have one target market or several; the most important thing is that you’ve identified the groups that will react and respond to your advertising.

Historically, consumer segmentation was based on instinct. Little data was available to offer insight on customer perspectives, so advertisers divined information where they could and filled in the rest with gut feelings. Sometimes it worked and sometimes it didn’t.

Today, technology is opening doors to a wealth of new information about consumer behavior that wasn’t available even five years ago. According to Razorfish CEO Pete Stein, “There’s been exponential growth in the availability of behavioral data…but many companies are struggling to translate this data.”

That’s where Screamer Co. can help. We have the tools to decode your data into useful intel. We can help you unlock secrets about who your target consumers are, how they think, what they want, and what type of content they respond to best.

Knowing more about how consumers act and react enables businesses to offer them a personalized advertising experience—what Forbes’ Glen Llopis calls a “deep and rich conversation with target consumers”—in lieu of low-yield mass marketing.

When University Federal Credit Union (UFCU) approached us for help identifying their target audience, we revealed new opportunities stemming from the announcement of the new UT Medical School. Thanks to the influx of health care professionals to UFCU’s primary trade area, we helped UFCU realize the potential of specialized outreach to industry-specific consumers, from students to doctors to administrators.

Screamer Co. is well equipped to do your consumer reconnaissance, whether your audience is large or small. Let us show you the data we can uncover for your business.

SOURCES
http://www.alwayson.razorfish.com
http://www.adweek.com/news/technology/76-marketing-execs-say-they-dont-target-behavioral-data-156408
http://www.forbes.com/sites/glennllopis/2014/03/24/every-leader-must-be-a-change-agent-or-face-extinction/

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