People can be incredibly diverse in their behaviors, needs, attitudes, lifestyle, and purchase drivers; that’s why a market segmentation study is critical.
A thoughtfully designed market segmentation study can help you identify sets of customers (or buying occasions) with important attributes in common so that you can most effectively set your marketing and product strategies and priorities.
Market segmentation helps focus your marketing and product development efforts against a portion of the market where you have a greater chance of succeeding, rather than trying to be all things to all people.Hilary DeCamp, Chief Research Officer for Material’s Insights Division
While there are many simple ways to segment a market, a true segmentation study is a robust undertaking that leverages both art and science to paint a picture as rich and nuanced as your market.
Grow your business with market segmentation
Whether your business goal is innovation, improvements to communications and promotion, customer service transformation, or digital activation, you’ve got to focus your energy, creativity, and resources on your greatest opportunity customer segments to drive growth.
Launching your next segmentation study
An effective segmentation study helps you identify the most valuable groups of customers and prospects, prioritized by their receptivity to your brand’s offering, their accessibility in the market, alignment with your strategy and brand purpose, and the size of their economic opportunity.
Find out how to optimize your next segmentation study with Material’s expert insights.
What you’ll learn
- Benefits of market segmentation,
- Market segmentation study types,
- The market segmentation process,
- How to craft an effective segmentation RFP,
- How to activate your segmentation study and set yourself up for success, and more!