Customer Segmentation Strategies Marketers Should Learn

Posted: September 08, 2020

[caption id="" align="alignright" width="437"] Image: Marketing Insider Group[/caption] Customers are the backbone of every business. Knowing your customers' preferences and behaviors has become essential in keeping them. In today's extremely competitive environment to build and keep a customer base, a blanket marketing approach isn't likely to give you much success. Utilizing segmentation strategies to target your key customers or to re-engage those that haven't interacted in a while could be the best way to make sure you're providing each one with exactly what they want from you. Michael Brenner, CEO and Founder of Marketing Insider Group, shares customer segmentation strategies every marketer should know. You might think you know your customer inside and out, but what you really know are the likes, dislikes, and behaviors of your ideal customer. In reality, each person engaging with your brand is unique. A one-size-fits-all approach to marketing fails to account for their individual quirks. The solution: customer segmentation strategies. Personalization has fast become a crucial element in any marketer’s toolbox, with seven in ten claiming that personalization significantly impacts customer experience, improving loyalty, and providing measurable ROI.

The Benefits of Customer Segmentation

Expertly executed customer segmentation strategies can benefit your brand in several ways. Here are a few stand-out advantages to get you thinking:

Improve Customer Retention

Estimates suggest that 52 percent of consumers switch brands during a one-year period, with 68 percent never going back. This results in a $1.6 trillion cost felt by businesses due to customer loss. Read the entire article, Customer Segmentation Strategies All Marketers Must Learn, on Marketing Insider Group.